LaSalle Hotel Properties to Be Acquired by Blackstone for $33.50 Per Share in $4.8 Billion Transaction

BETHESDA, Md.--(BUSINESS WIRE)--LaSalle Hotel Properties (NYSE:LHO) (“LaSalle” or the “Company”) today announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone, a leading global asset manager, will acquire all outstanding common shares of beneficial interest of LaSalle for $33.50 per share in an all-cash transaction valued at $4.8 billion.