• LaSalle takes a hit on New Jersey sale

Latest quarterly results from LaSalle Hotel Properties were hit by a once-off loss due to dipping hotel values, sending funds from operations down to $8.5 million. EBITDA for the quarter was $55.1 million compared to $48.4 million in the same period a year previously.

The figures were hit by a $23.6 million loss booked on the sale of the Seaview Resort in New Jersey. Revpar rose 6.3% to $148.39, and average daily rate was up 5.8% to $181.64, while occupany stayed level at 81.7 percent.

Read the full story here:  http://phx.corporate-ir.net/phoenix.zhtml?c=63030&p=irol-news&nyo=0

Share →