RLJ Development Is In Acquisition Mode

BETHESDA, MD-Now that RLJ Lodging Fund II LP, an affiliate of RLJ Development, LLC, has completed the first closing on a $1.7-billion, 100-hotel acquisition, the company is actively looking at other acquisitions as well, Thomas Baltimore Jr., president of RLJ, tells GlobeSt.com. He says RLJ Development has an additional “few hundred million” of acquisitions in its pipeline. “We are in acquisition mode now and expect to be very busy for the next year.”

The firm is still very bullish on the hotel market, especially as there is little supply on the horizon, Baltimore notes. “The White Lodging Services transaction has been very compatible with our strategy of investing in upscale hotels in urban or dense suburban markets. Also, their portfolio is very young and many of the properties are based in recovery markets.” RJL would also consider other brands for its portfolio, he adds.