LaSalle Hotel Properties Board of Trustees Confirms Unanimous Rejection of Unsolicited Proposal from Pebblebrook Hotel Trust

BETHESDA, Md.--(BUSINESS WIRE)--LaSalle Hotel Properties (NYSE: LHO) (“LaSalle” or the “Company”) today confirmed that its Board of Trustees (the “Board”) unanimously rejected an unsolicited proposal received on March 6, 2018 from Pebblebrook Hotel Trust (NYSE: PEB) (“Pebblebrook”) to acquire all outstanding shares of LaSalle in an all-stock transaction with consideration of 0.8655 common shares of Pebblebrook per common share of LaSalle.