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RLJ, FelCor Finalize $7B Merger

RLJ Lodging Trust CEO Ross H. Bierkan says the combination of the two companies creates “the preeminent lodging REIT in the upscale focused-service and compact full-service space.”

By Paul Bubny | paulbubny | Updated on September 01, 2017

Photo of Ross H. Bierkan RLJ CEO Ross H. Bierkan is leading the combined company post-merger.

BETHESDA, MD—RLJ Lodging Trust said Friday it had completed its merger with FelCor Lodging Trust Inc., a $7-billion stock-for-stock transaction first announced in April. Shareholders of both companies approved the union creating the third largest pure-play lodging REIT on August 15, despite analysts’ concerns that RLJ was paying too high a price for FelCor.

Ross H. Bierkan, RLJ’s president and CEO, will lead the combined company along with executive chairman Robert L. Johnson and COO/CFO Leslie D. Hale. Patricia L. Gibson, formerly a FelCor director, has joined RLJ’s board, which now numbers eight with the addition of Gibson.

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