RLJ Lodging Trust completes sale of 18 noncore hotels

RLJ Lodging Trust has closed on the previously announced disposition of 18 noncore hotels.

The buyer was not disclosed.

The hotels are located in Austin, Dallas and Houston; Louisville, Ken.; Golden and Louisville, Colo.; and Mishawaka, Ind. The portfolio totals up to 2,119 rooms.

The sale was part of two portfolio sales, totaling 39 hotels for approximately $490 million.

“Our recently announced dispositions will not only transform our portfolio quality and improve our growth profile, but will also create significant investment capacity,” said Sean Mahoney, executive vice president and CFO, during the second quarter 2019 earnings call. As you would expect, we will remain highly disciplined as we evaluate our alternatives to deploy this capital. We have a range of highly accretive opportunities to pursue, including share repurchases, multiple brand conversion opportunities, including the eight Wyndham hotels, and $150 million to $200 million of high-impact ROI opportunities.”