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RLJ Takes 100 Hotels for Close to $2B

BETHESDA, MD-In a $1.7-billion deal RLJ Development LLC takes hold of 100 hotels in 12 states across the country. Merrillville, IN-based White Lodging is selling the portfolio of mostly Hilton and Marriott brand properties, but will continue its management duties under a long-term agreement.

By Barbra Murray | Updated on February 14, 2006

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.

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