LaSalle Hotel Properties Confirms Receipt of Proposal from Pebblebrook Hotel Trust

BETHESDA, Md.--(BUSINESS WIRE)--LaSalle Hotel Properties (NYSE:LHO) (“LaSalle” or the “Company”) today confirmed that it received a proposal from Pebblebrook Hotel Trust (NYSE:PEB) (“Pebblebrook”) on August 21, 2018 to acquire LaSalle in a transaction with consideration of 0.92 common shares of Pebblebrook per common share of LaSalle, with the option for LaSalle shareholders to elect to receive cash up to a maximum of 30% in aggregate of the consideration, subject to pro ration.