LaSalle Hotel Properties
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LaSalle Hotel Properties is a self-managed, self-administered real estate investment trust focusing on quality, upscale and luxury hotels, resorts and convention hotels. Therefore, it owns properties in urban, resort and convention geographic areas.
31 properties in 14 markets in 11 states and the District of Columbia -- a total of 8,500 guest rooms. It had its IPO (initial public offering) in April 1998, starting with 10 hotels, and it does have a DRIP (dividend reinvestment plan).
The first CEO, president and chairman was Jon E. Bortz, and COO was Michael D. Barnello.
On September 14, 2009 Michael Barnello took over as a CEO and Jon Bortz left the company to join Pebblebrook Hotel Trust, and is now their chairman, president and CEO.
Because Barnello has been with LaSalle Hotel for so many years, he does not plan any major changes in policy. He is working hard to get his hotels through this difficult economy.
LaSalle Hotel (NYSE: LHO) pays dividends on a monthly basis. Its mission is to provide a reliable stream of income to their investors, with moderate long-term earnings growth.
Properties owned by LaSalle Hotel include:
Urban Hotels -- Alexis Hotel, Donovan House, Gild Hall, Grafton on Sunset, Hilton Alexandria Old Town, Hotel Amarano, Hotel Deca, Hotel George, Hotel Helix, Hotel Madera, Hotel Rouge, Hotel Sax Chicago, Hotel Solamar, Hyatt Harborside, Le Montrose Suite Hotel, Le Parc Suite Hotel, Onyx Hotel, The Liaison Capitol Hill, Topaz Hotel, and Westin City Center Dallas.
Resorts -- Chaminade at Santa Cruz, Hilton San Diego Resort, Hotel Viking, Lansdowne Resort, San Diego Paradise Point Resort & Spa, and Seaview Resort & Spa.
Convention Hotels -- Hilton San Diego Gaslamp Quarter, Indianapolis Marriott Downtown, Sheraton Bloomington Hotel, Minneapolis South, Westin Copley Place, and Westin Michigan Avenue.
As a REIT, LaSalle Hotel Properties is concentrated in the upscale travel market. It's fairly well-diversified geographically, but is vulnerable to downtowns in travel, both tourist and business.
Next: LTC Properties -- long term sectors of the medical, health care industry
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