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LaSalle Hotel Properties expects to incur Q3 net loss of up to $83.7M

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LaSalle Hotel Properties expects to incur Q3 net loss of up to $83.7M

LaSalle Hotel Properties disclosed its preliminary third-quarter results, saying it expects to incur a net loss in a range of $83.2 million to $83.7 million.

The multi-operator real estate investment trust also expects its funds from operations attributable to common shareholders and unit holders for the quarter in a range of negative $41.0 million to negative $41.5 million.

Third-quarter adjusted FFO attributable to common shareholders and unit holders is projected to hit a range of $80.9 million to $81.4 million, or 73 cents to 74 cents per share.

LaSalle noted that it recorded a $112.0 million expense related to its obligation to pay the termination fee under its merger agreement with private equity giant Blackstone Group LP and a corresponding liability on its balance sheet.

Following the termination of its merger deal with Blackstone, LaSalle agreed to a merger with fellow hotel REIT Pebblebrook Hotel Trust.

LaSalle will report its final third-quarter financial results Nov. 1.