LaSalle Hotel Properties

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 1, 2018. Its latest SEC filing is a SC 13G/A from Feb 14, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Owns and leases upscale and luxury full-service hotels in urban, convention and resort markets, serving business and high-end leisure travelers.

How Did They Make Money?

It earns revenue from hotel operations as they take place; revenue from retail leases is spread across the lease term.

FY2017 revenue

Who Were Their Customers?

The hotels target business and high-end leisure travelers, and third-party operators manage and run them.

Did Revenues Turn Into Profits?

Yes. It kept 18 cents of every revenue dollar as net income in FY2017 and turned 26 cents into free cash flow.

Operating income, FY2017

14% of revenue

▼ −23% vs FY2016 ($194.7M, 16%)

Net income, FY2017

18% of revenue

▼ −23% vs FY2016 ($252.8M, 21%)

Free cash flow, FY2017

26% of revenue

▼ −18% vs FY2016 ($345.2M, 28%)

How Were They Changing?

Since the FY2017 annual report

Latest quarter: Q3 FY2018, the three months to Sep 30, 2018

Revenue: ▲ +4%; vs $285.9M in Q3 FY2017
Net income: ▼ Now a loss; vs $35.2M in Q3 FY2017

Dec 4, 2018 Pebblebrook completed its merger with LaSalle LaSalle common shares were converted into the right to receive cash or Pebblebrook shares under the merger terms.
Sep 6, 2018 LaSalle agreed to merge with Pebblebrook The agreement followed termination of LaSalle’s earlier merger agreement with affiliates of Blackstone.

Grew. Revenue grew 13% in 4 years, from $977.3M in FY2013 to $1.1B in FY2017, about 3% a year.

Comments