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. Bortz
Number of Employees 30
Contact Information

3 Bethesda Metro Ctr Ste 1200

Bethesda, Maryland 20814

lasallehotels.c...

(301) 941-1500

NAICS Code : 525930

Recent Events

  • Bank of America Initiates Coverage on LaSalle Hotel LHO with a Neutral

    12/15/09 - Bond / Stock Rating - View Story

  • LaSalle Hotel Properties Declares Dividend for Fourth Quarter 2009

    12/15/09 - Stock Split / Dividend - View Story

  • FBR Capital Markets and Co. raises LaSalle Hotel Properties to 'outperform'

    10/23/09 - Bond / Stock Rating - View Story

  • FBR Capital Upgrades LaSalle Hotel Properties LHO to Outperform; Strongest Balance Sheet in Lodging REIT...

    10/23/09 - Bond / Stock Rating - View Story

  • Lasalle Hotel Properties Records 3rd Qtr Net Income of $3.4 million, Compared to $12.5 million...

    10/22/09 - Mgmt. Change Entering - COO - View Story

  • REIT eying high end hotels files for $402.5 mln IPO

    10/12/09 - New Investment - View Story

  • Lasalle Records 3rd Qtr Net Income

    10/23/09 - Financial Announcement - View Story

  • Market Report -- In Play LHO

    10/06/09 - Mgmt. Change Entering - COO - View Story

  • LaSalle Hotel Properties Reports Third Quarter Results

    10/21/09 - Mgmt. Change Entering - COO - View Story

  • LaSalle Hotel names Young chief operating officer

    10/06/09 - Mgmt. Change Leaving - CEO - View Story

  • LaSalle Hotel names COO

    10/06/09 - Mgmt. Change Entering - Vice President - View Story

  • Alfred L. Young Appointed Chief Operating Officer for LaSalle Hotel Properties

    10/06/09 - Mgmt. Change Entering - Vice President - View Story

News & Analysis

lasalle hotel properties - All News and Analysis

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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     LHO $20.22 -0.11 (-0.54% )
Average Volume 998,176
Shares Outstanding 63.51M
Market Cap 1.3B
Year High 21.45
Year Low 3.57
Earnings Per Share -0.44
P/E Ratio -45.95
Dividend 0.04
Yield 0.20
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