RLJ Ditches 11 Hotels After Nabbing $313M Hyatt Portfolio

Law360, New York (February 21, 2014, 12:30 PM EST) -- RLJ Lodging Trust has sold 11 hotels spread across Florida, Texas and three other states, allowing the trust to reinvest in higher-yielding properties, like the 10 West Coast hotels it picked up earlier this month for $313 million from Hyatt Hotels Corp., according to a Friday statement.

The portfolio of hotels encompasses properties in Florida, Texas, Nevada, Michigan and Indiana that operate under several different brands, including Residence Inn and Hampton Inn & Suites, the trust said. The 11 hotels, which were some of RLJ's lowest-earning...
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