LaSalle Hotel Properties (LHO)

Company Information:

Company Address:

4800 Montgomery Lane

Suite M25

Bethesda, MD 20814

Company’s Web Address: http://www.lasallehotels.com

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Company Overview:

LaSalle Hotel Properties is a leading real estate investment trust (REIT), owning 31 upscale and luxury full-service hotels and resorts, totaling approximately 8,500 guestrooms in 14 markets in 11 states and the District of Columbia. The Company focuses on investing in upscale and luxury full-service hotels located in urban, resort and convention markets.   

• Diversified high-quality portfolio with 31 upscale and luxury assets.

• LaSalle Hotel Properties seeks to invest in high quality, upscale and luxury full-service hotels in high barrier-to-entry urban, resort and convention markets while lowering risk through:

  • Diversification
  • Conservation  balance sheet management
  • Research-based investments
  • Regular investment in existing assets
    

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Discussion:

From comments made by Rod Petrik, a securities analyst with Stifel, Nicolaus & Company, during an interview with The Wall Street Transcript printed November 28, 2007.  "On the REITs side, we like Host Hotels and we like LaSalle (LHO). We think that they have two of the highest quality portfolios in the space. We believe that multiple will track RevPAR. Historically, those two companies have had the highest RevPAR in the lodging sector. Strategic has certainly entered that arena. A lot of those assets have been bought, and bought at relatively high prices over the last few years. Host and LaSalle would get the nod on the REITs side. On the C-Corp side, our favorite name is Marriott. We think the selloff in the stock recently due to timeshare has been overblown. We love the international opportunities; they are 20% of the business. We think that the bottom line can grow at almost 50% per year on the international front over the next two to three years. The opportunities in Asia, again, and particularly in India and China are very attractive. As you see a pickup in supply, obviously Marriott gets more than their fair share in new starts, with very competitive product, particularly in select service for those local developers looking for brands. When we talk to lenders, to the extent that you can get a construction loan it is very helpful to have a major brand like one of those."

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