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RLJ Lodging Trust Announces Closing of $313 Million, 10-Hotel Portfolio Acquisition from Affiliates of Hyatt Hotels Corporation


BETHESDA, Md.--(BUSINESS WIRE)--Mar. 13, 2014-- RLJ Lodging Trust (NYSE: RLJ) (“RLJ”) and Hyatt Hotels Corporation (NYSE: H) (“Hyatt”) today announced that their affiliates have closed on the previously announced purchase and sale of 10 Hyatt, Hyatt Place and Hyatt House hotels, totaling 1,560 rooms. Hyatt affiliates will manage the hotels under new management agreements.

The portfolio, which is comprised of the hotels listed below and located primarily on the West Coast, was acquired for a total purchase price of approximately $313 million. RLJ intends to spend approximately $25 million in capital expenditures across the portfolio, the majority of which will be invested over the next 24 months.

Details of the hotels are listed below:

Property   City   State   Rooms
Hyatt House Cypress / Anaheim   Cypress   CA   142
Hyatt House Emeryville / SF Bay Area Emeryville CA 234
Hyatt Place Fremont / Silicon Valley Fremont CA 151
Hyatt House San Diego / Sorrento Mesa San Diego CA 193
Hyatt House San Jose / Silicon Valley San Jose CA 164
Hyatt House San Ramon San Ramon CA 142
Hyatt House Santa Clara Santa Clara CA 150
Hyatt Market Street, The Woodlands Woodlands TX 70
Hyatt House Charlotte / Center City Charlotte NC 163
Hyatt Place Madison / Downtown   Madison   WI   151
Total 1,560

With the addition of these hotels, RLJ owns 147 properties, consisting of 145 hotels with approximately 22,500 rooms and two planned hotel conversions, located in 22 states and the District of Columbia.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. For more information, please visit

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company's subsidiaries manage, franchise, own and develop hotels and resorts under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara™ and Hyatt Ziva ™ brand names and have locations on six continents. Hyatt Residential Group, Inc., a Hyatt Hotels Corporation subsidiary, develops, operates, markets or licenses Hyatt Residences® and Hyatt Residence Club®. As of December 31, 2013, the Company's worldwide portfolio consisted of 548 properties in 48 countries. For more information, please visit

Source: RLJ Lodging Trust and Hyatt Hotels Corporation

RLJ Lodging Trust Contact:
Leslie D. Hale, Chief Financial Officer
Hyatt Media Contact:
Farley Kern, Vice President, Corporate Communications
Hyatt Investor Contact:
Atish Shah, Senior Vice President, Investor Relations