RLJ Lodging Trust has issued a statement in response to an open letter last week from activist investor Land & Buildings that prodded shareholders to seek a sale of the real estate investment trust.
BETHESDA, Md.--Sep. 7, 2017-- RLJ Lodging Trust (“RLJ”) (NYSE: RLJ) today issued the following statement in response to the open letter to shareholders issued by Land & Buildings Investment Management LLC on September 6, 2017:
RLJ remains committed to acting in the best interest of all our shareholders. We have and will continue to cultivate strong relationships with our shareholders and welcome their input and constructive dialogue. Our board of trustees and management team are fully committed to maximizing shareholder value.
With the recent closing of the merger with FelCor Lodging Trust Incorporated (“FelCor”) on August 31, 2017, we are working diligently to integrate both platforms. We continue to focus on unlocking the strategic benefits from the merger such as the realization of synergies, balance sheet optimization, strategic dispositions, and repositioning projects, which we believe will drive long-term shareholder value.
RLJ will provide an update on the integration progress and its business results on its third quarter earnings conference call to be held in early November 2017. A presentation that outlines the strategic benefits of the merger was previously made available to shareholders and can be accessed on the investor relations page of RLJ’s website at http://investor.rljlodgingtrust.com.
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. The Company’s portfolio consists of 158 hotels with approximately 31,180 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
Source: RLJ Lodging Trust
RLJ Lodging Trust
Leslie D. Hale, 301-280-7774
Chief Operating Officer and Chief Financial Officer
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