LaSalle Hotel Beats EPS Estimates; Guides 2011 In-Line (LHO)

LaSalle Hotel Properties LHO today announced results for the fourth quarter and year ended December 31, 2010. LaSalle Hotel LHO Beats Street EPS Estimates; Guides 2011 Relatively In-Line. “2010 was a very successful year for our Company,” said Michael Barnello, President and Chief Executive Officer of LaSalle Hotel Properties. “The industry and our portfolio began to recover, our Company continued to deliver extraordinary hotel EBITDA margins and we substantially improved our portfolio by acquiring hotels that are consistent with our strategy and that we believe will create long term shareholder value and by exiting non-core markets and lower-performing assets. In addition, we were able to meaningfully increase the dividend in the third quarter of 2010. We continued to opportunistically raise capital in 2010 with net proceeds of $109.2 million through our common equity offering in March and $74.9 million through our ATM program. To date in 2011, we have raised net proceeds of $66.4 million through our Series H preferred offering and $72.3 million through our ATM program