Exhibit 99.1
lhologo2017q1.jpg
 
 
 
 
 
 
 
 
News Release

LASALLE HOTEL PROPERTIES REPORTS FIRST QUARTER 2017 RESULTS
Strengthens Balance Sheet with $274 Million of Asset Sales Year-to-Date


BETHESDA, MD, April 19, 2017
-- LaSalle Hotel Properties (NYSE: LHO) today announced results for the quarter ended March 31, 2017. The Company’s results include the following:

 
First Quarter
 
2017
 
2016
 
% Var.
 
($'s in millions except per share/unit data)
 
 
 
 
 
 
Net income attributable to common shareholders(1)
$
76.1

 
$
6.0

 
1,168.3
 %
Net income attributable to common shareholders per diluted share(1)
$
0.67

 
$
0.05

 
1,240.0
 %
 
 
 
 
 
 
RevPAR(2)
$
177.56

 
$
175.03

 
1.4
 %
Hotel EBITDA Margin(2)
27.5
%
 
27.0
%
 
 
Hotel EBITDA Margin Growth(2)
50 bps

 
 
 
 
 
 
 
 
 
 
Total Revenues
$
254.4

 
$
260.1

 
-2.2
 %
EBITDA(1,2)
$
135.6

 
$
62.9

 
115.6
 %
Adjusted EBITDA(2)
$
61.8

 
$
65.0

 
-4.9
 %
Note: Adjusted EBITDA in the first quarter of 2016 includes $6.1 million for assets that the Company sold in July 2016 and January 2017.

 
 
 
 
 
 
FFO(2)
$
49.0

 
$
53.6

 
-8.6
 %
Adjusted FFO(2)
$
51.3

 
$
55.6

 
-7.7
 %
FFO per diluted share/unit(2)
$
0.43

 
$
0.47

 
-8.5
 %
Adjusted FFO per diluted share/unit(2)
$
0.45

 
$
0.49

 
-8.2
 %

(1) 2017 net income and EBITDA (as defined below) include $74.4 million of gains from the sales of the Hotel Deca, Lansdowne Resort, and Alexis Hotel.
(2) See tables later in this press release, which list adjustments that reconcile net income attributable to common shareholders to earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, funds from operations attributable to common shareholders and unitholders (“FFO”), FFO per share/unit, adjusted FFO, adjusted FFO per share/unit and pro forma hotel EBITDA. EBITDA, adjusted EBITDA, FFO, FFO per share/unit, adjusted FFO, adjusted FFO per share/unit and hotel EBITDA are non-GAAP financial measures. See further discussion of these non-GAAP measures and reconciliations to net income later in this press release. Room revenue per available room (“RevPAR”) is presented on a pro forma basis to reflect hotels in the Company’s current portfolio. See “Statistical Data for the Hotels - Pro Forma” later in this press release.


“We are proud that our teams continue to operate with excellent efficiency across the portfolio, as evidenced by a decline in hotel operating expenses during the first quarter,” said Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties.




The following information was filed by Lasalle Hotel Properties (LHO) on Wednesday, April 19, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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