BNET Industries
Market Cap:$1.2B
Last Fiscal Year Sales:$683.3M
- Public
- US
Dow Jones Description
The Company was organized as a Maryland real estate investment trust on January 15, 1998 to buy, own, redevelop and lease primarily upscale and luxury full-service hotels located in convention, resort and major urban business markets. The Company is a self-managed and self-administered real estate investment trust (REIT) as defined in the Internal Revenue Code of 1986, as amended (the Code). As a REIT, the Company is generally not subject to federal corporate income tax on that portion of its net income that is currently distributed to shareholders. The income of LaSalle Hotel Lessee, Inc. (LHL), the Companys taxable-REIT subsidiary, is subject to taxation at normal corporate rates.
Chairman & CEO
Jon E. BortzNumber of Employees 30
Contact Information
3 Bethesda Metro Ctr Ste 1200
Bethesda, Maryland 20814
(301) 941-1500
Peer Companies
NAICS Code : 525930
Recent Events
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Bank of America Initiates Coverage on LaSalle Hotel LHO with a Neutral
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LaSalle Hotel Properties Declares Dividend for Fourth Quarter 2009
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FBR Capital Markets and Co. raises LaSalle Hotel Properties to 'outperform'
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FBR Capital Upgrades LaSalle Hotel Properties LHO to Outperform; Strongest Balance Sheet in Lodging REIT...
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Lasalle Hotel Properties Records 3rd Qtr Net Income of $3.4 million, Compared to $12.5 million...
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REIT eying high end hotels files for $402.5 mln IPO
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Lasalle Records 3rd Qtr Net Income
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Market Report -- In Play LHO
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LaSalle Hotel Properties Reports Third Quarter Results
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LaSalle Hotel names Young chief operating officer
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LaSalle Hotel names COO
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Alfred L. Young Appointed Chief Operating Officer for LaSalle Hotel Properties
News & Analysis
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lasalle hotel properties - All News and Analysis
LaSalle Hotel Properties Q3 2009 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions. Your first question comes from Ryan Meliker – Morgan Stanley. Ryan Meliker – Morgan Stanley A couple of really quick questions here for you. I'm wondering if you can provide color on two different things for me? First of all,...
LaSalle Hotel Properties Q4 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question is from Patrick Scholes – Friedman, Billings, Ramsey. Patrick Scholes – Friedman, Billings, Ramsey & Co. Did you say on the call what your total January, including DC, RevPAR results were? Jon Bortz We said...
LaSalle Hotel Properties Inc Q3 2008 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Our first question from Chris Woronka - Deutsche Bank. Chris Woronka - Deutsche Bank As you look out to 2009 you mentioned you made a conscious decision to group-up a little bit this year. Do you see that continuing? How would the potentially higher...
LaSalle Hotel Properties, Q2 2008 Earnings Transcript Call
Question-and-Answer SessionOperator Operator Instructions. And from Baird we will go to David Loeb? David Loeb - Robert W. Baird Hi, Jon, can you just give us an estimate of where you see market Cap rates for upper upscale independent hotels like the ones that you currently own? ...
LaSalle Hotel Properties Q1 2008 Earnings Call Transcript
Question-and-Answer Session Operator Thank you. Operator instructions The first question comes from Bill Crow with Raymond James. Bill Crow – Raymond James Good afternoon guys. Jon, a couple of questions. First of all, if I just go back to your first major renovation program, I think it was the...
LaSalle Hotel Properties Q4 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions. And our first question will come from Charles Scholes with JPMorgan. Charles Scholes - JPMorgan Hi, good morning. A number of your competitors have recently announced a potential share repurchases with the funds coming from either accessing the balance sheet or selling non-core assets. What...
LaSalle Hotel Properties Q3 2007 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions We will take our first question from William Truelove with UBS. William Truelove - UBS I have got three main questions here. The first one is about the sales force issue you had at Lansdowne and the group pace in the quarter. Were...
LaSalle Hotel Properties Reports First Quarter Results; RevPAR Increases 10.3 Percent; EBITDA Rises 82.0 Percent
BETHESDA, Md. -- LaSalle Hotel Properties (NYSE:LHO) today reported a net loss to common shareholders of $2.9 million, or ($0.10) per diluted share for the quarter ended March 31, 2005, compared to a net loss of $6.2 million, or ($0.25) per diluted share for the prior year period. For...
LaSalle Hotel properties buys Hilton Gaslamp for $85 million
Gaslamp Hotel Is Sold: The Hilton San Diego Gaslamp Quarter hotel on Fifth Avenue across from the San Diego Convention Center fetched $85 million in a sale announced Jan. 7. Publicly traded Bethesda, Md.-based LaSalle Hotel Properties was the buyer. S.D. Malkin Properties, which developed, owned and managed the...
LaSalle Hotel Properties Completes $34.4 Million Secured Debt Financing; 4.98 Percent Loan Secured by Hilton Alexandria Old Town Hotel
BETHESDA, Md. -- LaSalle Hotel Properties (NYSE:LHO) today announced that it has successfully executed a $34.4 million secured loan with Wells Fargo Bank at a fixed rate of 4.98 percent. The term of the loan is five years and is collateralized by the Company's 241-room Hilton Alexandria Old Town Hotel....
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Kelly L Kuhn | President of Carlson Wagonlit Travel Military & Government Markets |
| Hans S. Wager | CFO & Executive Vice President |
| Hans Weger | CFO, Treasurer & Executive Vice President |
| Julio E Morales | Chief Accounting Officer |
| Michael Barnello | Chief Operating Officer and Executive Vice President of Acquisitions |
| Darryl Hartley-Leonard | Trustee of the Company |
| William S McCalmont | Trustee of the Company |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Jon E. Bortz | Chairman & CEO |
| Donald S. Perkins | Chairman |
| Stuart L. Scott | Chairman of The Companys Board of Trustees |
| Darryl Hartley Leonard | Board of Directors |
| Donald A. Washburn | Board of Directors |
Jon E. Bortz has served as Chairman of the Company's Board of Trustees since January 1, 2001, a trustee of the Company since 1998 and has been President and Chief Executive Officer of the Company since its formation. Mr. Bortz founded the Hotel Group of Jones Lang LaSalle Incorporated ("Jones Lang LaSalle"), and as President, oversaw all of Jones Lang LaSalle's hotel investment and development activities. From January 1995 as Managing Director of Jones Lang LaSalle's Investment Advisory Division, Mr. Bortz was also responsible for certain east coast development projects, including the redevelopment of Grand Central Terminal in New York City. From January 1990 to January 1995, he was a Senior Vice President of Jones Lang LaSalle's Investment Division, with responsibility for east coast development projects and workouts, including the redevelopment of Union Station in Washington, D.C. Mr. Bortz joined Jones Lang LaSalle in 1981. Mr. Bortz is a member of the Board of Governors of the National Association of Real Estate Investment Trusts. Mr. Bortz serves on the board of trustees of Federal Realty Investment Trust. Mr. Bortz holds a B.S. in Economics from The Wharton School of the University of Pennsylvania and is a Certified Public Accountant in Maryland.
| Organization | Position | Status |
|---|---|---|
| Global Hospitality Resources | Chairman, President & Chief Executive Officer | Current |
| LaSalle Hotel Properties | Chairman & CEO | Current |
| LaSalle, Inc. | Chief Executive Officer | Current |
| LaSalle, Inc. | President | Current |
| Spinpoint, Inc. | Current | |
| S-Board Ltd. | Chairman | Current |
| Metropark USA, Inc | Board of Directors | Current |
| Federal Realty Investment Trust | Board of Directors | Current |
| Federal Realty Investment Trust | Chairman, CEO and President, Lasalle Hotel Properties | Former |
| LaSalle Hotel Properties | President | Former |
| Grand Central Terminal | Former | |
| LaSalle, Inc. | Board of Directors | Former |
| School of the University of Pennsylvania | B.S. in Economics | Former |
| Wharton Graduate School of the University of Pennsylvania | B.S. In Economics | Former |
Kelly L. Kuhn is President of Carlson Wagonlit Travel Military & Government Markets, beginning in 2007. Ms. Kuhn had been President of SatoTravel, a Navigant International company, since 2005. (Navigant International was acquired by Carlson Wagonlit Travel in 2006.) For four years prior, Ms. Kuhn had been Navigant International s Regional President for the north central region. Ms. Kuhn also serves on Carlson Wagonlit Travel North America s executive committee and the strategic planning team. For approximately 10 years prior to joining Navigant International, Ms. Kuhn held several key positions at Arrington Travel Center, including manager of corporate communications, director of client and industry relations, vice president of operations, senior vice president, executive vice president and president and chief operating officer. Ms. Kuhn holds a B.A. from Northwestern University.
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | President of Carlson Wagonlit Travel Military & Government Markets | Current |
| LaSalle Hotel Properties | Director | Current |
| Global Hospitality Resources | Board of Directors | Current |
| Scheduled Airlines Traffic Offices, Inc. | President | Current |
| Northwestern University | B.A. | Former |
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | CFO & Executive Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | CFO, Treasurer & Executive Vice President | Current |
| La Quinta Inns, Inc. | Vice President | Former |
| Harrah's Entertainment, Inc. | Former | |
| La Quinta Inns, Inc. | Treasurer | Former |
| University of Chicago | M.B.A. | Former |
| University of Southern Mississippi | B.S. In Finance | Former |
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | Chief Accounting Officer | Current |
Michael D. Barnello has served as Chief Operating Officer and Executive Vice President of Acquisitions of the Company since its formation and is President of LaSalle Hotel Lessee, Inc. On June 2, 2008 he was named President of LaSalle Hotel Properties and was elected to the Board of Trustees in July 2008. In accordance with the company’s succession plan Mr. Barnello will assume the role and duties of Chief Executive Officer on July 1, 2010. Mr. Barnello joined Jones Lang LaSalle in April 1995 as a Vice President. Prior to April 1995, Mr. Barnello was a Vice President with Strategic Reality Advisors, formerly known as VMS Realty Partners, where he was responsible for hotel asset management since 1990. Concurrently, Mr. Barnello was a Vice President at Stone-Levy LLC, an affiliate of Strategic Realty Advisers, where he was responsible for hotel acquisitions. Mr. Barnello holds a B.S. in Hotel Administration from the Cornell School of Hotel Administration.
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | Chief Operating Officer and Executive Vice President of Acquisitions | Current |
| LaSalle Hotel Properties | Board of Directors | Current |
| LaSalle Hotel Properties | President & COO | Former |
| LaSalle Partners Incorporated | Vice President | Former |
| Stone Levy | Vice President | Former |
| Strategic Realty Advisors, Inc | Vice President | Former |
| Cornell University | B.S. In Hotel Administration | Former |
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | Trustee of the Company | Current |
| Spinpoint, Inc. | Current | |
| LaSalle Hotel Properties | Board of Directors | Current |
| Global Hospitality Resources | Board of Directors | Current |
| Hyatt Hotels Corporation | Chief Executive Officer | Former |
| Global Hyatt Corporation | Chief Executive Officer | Former |
| Global Hyatt Corporation | Chief Operating Officer | Former |
| Hyatt Hotels Corporation | Chief Operating Officer | Former |
| Hyatt Hotels Corporation | Chairman of the Board | Former |
| Global Hyatt Corporation | Chairman | Former |
| Johnson & Wales University | Doctorate | Former |
| Lancaster University | B.A. | Former |
| LaSalle Partners Incorporated | member | Former |
| Organization | Position | Status |
|---|---|---|
| St. Joe Company | Chief Financial Officer | Current |
| ACE Cash Express, Inc. | Chief Financial Officer | Current |
| St. Joe Company | Executive Vice President | Current |
| LaSalle Hotel Properties | Trustee of the Company | Current |
| ACE Cash Express, Inc. | Board of Directors | Current |
| Aces Wired Inc | Director | Current |
| LaSalle Hotel Properties | Board of Directors | Current |
| La Quinta Inns, Inc. | Chief Executive Officer | Former |
| Harrah's Entertainment, Inc. | Chief Executive Officer | Former |
| Harrah's Entertainment, Inc. | Interim President | Former |
| La Quinta Inns, Inc. | Interim President | Former |
| La Quinta Inns, Inc. | Chief Financial Officer | Former |
| Harrah's Entertainment, Inc. | Treasurer | Former |
| Msia | B.A. | Former |
| Rollins College | B.A. | Former |
| Organization | Position | Status |
|---|---|---|
| Evanston Northwestern Healthcare | Life Director | Current |
| Quality Education | Director of Leadership | Current |
| Northwestern University | Trustee | Current |
| Spinpoint, Inc. | Current | |
| Nanophase Technologies Corporation | Chairman | Current |
| Blue Ridge Partners Management Consulting, LLC | Advisory Board Chairman | Current |
| Illinois Coalition | Honorary Chairman | Current |
| Springs Industries, Inc. | Director | Current |
| Shields Meneley Partners | Board of Directors | Current |
| Cummins, Inc. | Director | Current |
| Aon Corporation | Director | Current |
| Potomac Ventures | Board of Directors | Current |
| Evanston Northwestern Healthcare | Director | Current |
| LaSalle Hotel Properties | Board of Directors | Current |
| Nanophase Technologies Corporation | Board of Directors | Current |
| RoundTable Healthcare Partners | Advisory Board Member | Current |
| Ark Capital Management | Board of Directors | Current |
| Jewel Corn Allies, Inc. | Chief Executive Officer | Former |
| Jewel Corn Allies, Inc. | President | Former |
| Jewel Corn Allies, Inc. | Vice President | Former |
| Evanston Northwestern Healthcare | Chairman of the Board | Former |
| Jewel Corn Allies, Inc. | Chairman | Former |
| Kmart Corporation | Board Member | Former |
| Ford Foundation | Board of Directors | Former |
| The Brookings Institution | Board of Directors | Former |
| The Business Council | Board of Directors | Former |
| Time Warner Inc. | Board Member | Former |
| Eastman Kodak Company | Board Member | Former |
| University Corp. | B.A. Degree | Former |
| Yale University | B.A. Degree | Former |
| Harvard Business School | Graduate | Former |
| Yale University | Graduate | Former |
| Ford Foundation | Trustee | Former |
| The Brookings Institution | Trustee | Former |
| The Business Council | Member | Former |
| Organization | Position | Status |
|---|---|---|
| Spinpoint, Inc. | Current | |
| LaSalle Hotel Properties | Chairman of The Companys Board of Trustees | Current |
| Coppley Apparel Group Limited | Director | Current |
| Hartmarx Corporation | Director | Current |
| LaSalle Hotel Properties | Board of Directors | Current |
| LaSalle Partners Incorporated | Chief Executive Officer | Former |
| LaSalle Partners Incorporated | President | Former |
| LaSalle Partners Incorporated | Chairman of the Board of Directors | Former |
| S-Board Ltd. | Chairman | Former |
| Northwestern University School of Law | J.D. | Former |
| Northwestern University | J.D. | Former |
| Northwestern University School of Law | B.A. | Former |
| Hamilton College | B.A. | Former |
| Hartmarx Corporation | member | Former |
Darryl Hartley-Leonard has served as a trustee of the Company since 1998. Mr. Hartley-Leonard is a member of the Company’s Nominating and Governance Committee. Mr. Hartley-Leonard is a private investor. Mr. Hartley-Leonard is Chairman and CEO of PGI (an event production agency) and a retired Chairman of the Board, President and Chief Executive/Chief Operating Officer of Hyatt Hotels Corporation. Mr. Hartley-Leonard is a director of Jones Lang LaSalle. Mr. Hartley-Leonard holds a B.A. from Blackpool Lancashire College of Lancaster University and an honorary doctorate of business administration from Johnson and Wales University.
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | Board of Directors | Current |
Donald A. Washburn has served as a trustee of the Company since 1998. Mr. Washburn is also a member of the Company’s Audit Committee and the Nominating and Governance Committee and the Chairman of the Compensation Committee. Mr. Washburn is a private investor. Mr. Washburn is a retired Executive Vice President of Northwest Airlines, Inc. (“Northwest”) and Chairman and President-Northwest Cargo, Inc. Mr. Washburn joined Northwest in 1990 and served in a number of capacities, including Executive Vice President-Customer Service and Operations. Prior to joining Northwest, Mr. Washburn was a corporate Senior Vice President of Marriott Corporation, most recently Executive Vice President and general manager of its Courtyard Hotel division. Mr. Washburn is a director of Princess House, Inc., Key Technology, Inc. and Laga, Inc. Mr. Washburn serves as a private equity fund advisory board member of Spell Capital Fund II. Mr. Washburn graduated from Loyola University of Chicago, Kellogg Graduate School of Management at Northwestern University and the Northwestern University School of Law.
| Organization | Position | Status |
|---|---|---|
| LaSalle Hotel Properties | Board of Directors | Current |
| Princess House, Inc. | Director | Current |
| Victor Plastics Inc. | Director | Current |
| Key Technology, Inc. | Director | Current |
| The Greenbrier Companies, Inc. | Director | Current |
| Amedisys, Inc. | Director | Current |
| Laga | Director | Current |
| LaSalle Hotel Properties | trustee | Former |
| The Greenbrier Companies, Inc. | Nominating and Corporate Governance Committee Chair | Former |
| Kellogg School of Management at Northwestern University | Former | |
| Loyola University Chicago | Former | |
| Northwestern University School of Law | Former |
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