RLJ Takes 100 Hotels for Close to $2B

BETHESDA, MD-Locally based RLJ Development LLC struck a deal to purchase a 100-property hotel portfolio for $1.7 billion. RLJ signed a definitive agreement to acquire the hotels from Merrillville, IN-headquartered White Lodging Services Corp., which will continue to manage the facilities under a long-term contract that was agreed to as part of the deal.

Consisting of about 14,000 guestrooms, the WLS portfolio involves properties that are located in states in nearly every major region of the country–Colorado, Connecticut, Florida, Illinois, Indiana, Kentucky, Michigan, New Jersey, Pennsylvania, Tennessee, Texas and Utah. Most of the hotels carry the Marriott or Hilton brand flags and will continue to do so under the new ownership.