LaSalle Hotel Properties Issues Statement in Response to Pebblebrook Hotel Trust's Revised Unsolicited Proposal

BETHESDA, Md.--(BUSINESS WIRE)--LaSalle Hotel Properties (NYSE:LHO) (“LaSalle” or the “Company”) today confirmed that on April 20, 2018 it received from Pebblebrook Hotel Trust (NYSE:PEB) (“Pebblebrook”) a further revised unsolicited proposal to acquire LaSalle in a transaction with consideration of 0.9085 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 20% in aggregate of the merger consideration, subject to pro ration.