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RLJ Lodging Trust To Raise $550M In IPO

RLJ Lodging Trust is seeking to raise a total of about $550 million in an initial public offering.

    RLJ Lodging Trustis seeking to raise a total of about $550 million in an initial public offering (IPO),The Wall Street Journalreports. The real estate investment trust (REIT) has not disclosed the number of shares to be sold and their expected price range.

    After the completion of IPO, RLJ will own 140 hotels in 19 states and the District of Columbia. Almost all of the hotels will operate under the firm’s current relationships withMarriott International,Hilton WorldwideandHyatt Hotels. RLJ will use the proceeds from the offering to repay its debt.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromReuters.

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