LaSalle Hotel Properties / LHO
The Crimson Lounge in the Hotel Sax Chicago, one of the 31 boutique hotels and resorts owned by the company. (Photo: Andrew Bordwin)
About LaSalle Hotel Properties
3 Bethesda Metro Center, Suite 1200, Bethesda, Md. 20814
www.lasallehotels.com
| 301-941-1500
| Founded: 1998
Industry: Hospitality And Travel | Category: Top 100 Companies
LaSalle reported earnings that were up more than 50 percent in 2005, profiting from strong growth in the travel industry. The company continued to expand over the past year, buying seven hotels for a total of $624 million. Among them was the former Holiday Inn Downtown, on Thomas Circle in the District. The company paid $44.6 million, dropped the Holiday Inn name and said it plans to spend more than $21 million to renovate the property so it can be turned into a luxury hotel by early next year.
The company also continued to renovate and expand its Lansdowne Resort in Loudoun County.
Other acquisitions included two hotels in Boston, the luxury Westin Copley Place for about $318 million and the smaller Onyx Hotel for $28.6 million.
The company also paid $90.3 million in December to acquire a leasehold interest in the Hilton San Diego Resort, and $26.4 million to buy the Best Western University Tower Hotel in Seattle.
Chairman and CEO: Jon E. Bortz
2007 Financial Data
Total employees: 27 | Local employees: 27Company Leadership
| Jon E. Bortz | Chairman, president and CEO |
| Michael D. Barnello | COO |
| Hans S. Weger | CFO |
Source: Compensation data provided by Equilar, Inc..
Did You Know
LaSalle Hotel Properties, a real estate investment trust, owns interests in 27 upscale and luxury hotels with about 8,500 guest rooms in 11 states and the District. The hotels are managed by contractors and bear brands such as Westin, Sheraton, Marriott and Hyatt.
