BETHESDA, Md Dec. 13, 2002 LaSalle Hotel Properties (NYSE:LHO) today announced its quarterly dividend of $0.21 per share of its common shares of beneficial interest for the fourth quarter ended December 31, 2002.
The dividend is payable on January 15, 2003 to shareholders of record as of December 31, 2002.
Beginning in 2003, the Company plans to pay monthly dividends in lieu of quarterly dividends to its common shareholders of beneficial interest. The first monthly dividend is anticipated to be paid in February for the month of January at a level of $0.07 per common share of beneficial interest.
LaSalle Hotel Properties is a leading multi-tenant, multi-operator real estate investment trust (REIT), which owns 17 upscale and luxury full-service hotels, totaling approximately 5,850 guest rooms in 13 markets in 11 states and the District of Columbia. LaSalle Hotel Properties focuses on investing in upscale and luxury full-service hotels located in urban, resort and convention markets.
The Company seeks to grow through strategic relationships with premier internationally recognized hotel operating companies including Marriott International, Inc., Radisson Hotels International, Inc., Starwood Hotels & Resorts Worldwide, Inc., Crestline Hotels & Resorts, Inc., Outrigger Lodging Services, Noble House Hotels & Resorts, Hyatt Hotels Corporation, and the Kimpton Hotel & Restaurant Group, LLC.
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