Pebblebrook, LaSalle to unload up to $1B in hotels — and D.C. holdings could be on the block

Pebblebrook Hotel Trust and LaSalle Hotel Properties plan to send their proposed merger to shareholder votes the week of Nov. 26, with an eye toward closing the deal in late November or early December. 

The companies expect to file preliminary proxy and registration documents next week and issue a definitive registration statement by Oct. 22. Pebblebrook CEO Jon Bortz outlined the schedule, as well as other details, on a joint investor call Thursday with LaSalle CEO Michael Barnello. 

Bortz also identified the three hotels it said it would divest when the deal was announced. Those hotels, totaling 1,600 rooms, are the Park Central and the West House in New York and the Park Central in San Francisco — all LaSalle properties.

Bortz told investors the company will sell an additional $500 million to $1 billion in assets but did not reveal which hotels are on the block. 

“We don’t plan to disclose the specific hotels that we intend to sell, as this is disruptive,” Pebblebrook…

Read the full story from the Washington Business Journal.