LaSalle Hotel Properties / LHO

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

This is boom time for hotel companies, particularly for ones such as LaSalle that buy and sell properties and then have management chains operate them. Investment companies take home the bulk of the profit in these arrangements, and with business travel up and new supply growth down, companies such as LaSalle continue to do well.
The company's profit jumped to $99.1 million in 2006 from $35.4 million the year before. Revenue per available room, a key industry measure of strength, increased 10.1 percent compared with the previous year.
LaSalle is trying to squeeze even more gains out of this hotel boom. Last year, it bought seven hotels in urban markets, where demand is strongest and supply growth weakest, for $588 million. Two are in Chicago, another two in Los Angeles, and one each in Seattle, San Diego and New York. The company also spent $63.2 million to upgrade other hotels in its portfolio. It spent the most, $10.6 million, at the Paradise Point Resort in San Diego, renovating meeting facilities and upgrading carpets.

Chairman and CEO: Jon E. Bortz

2007 Financial Data

Total employees: 31 | Local employees: 31