RLJ Lodging Trust has closed on its merger with Irving, Texas-based FelCor Lodging Trust Incorporated. The new company will be headquartered in Bethesda, Maryland, will retain the RLJ name and will trade under the existing “RLJ” ticker on the New York Stock Exchange. Shares of FelCor common stock will no longer trade on the New York Stock Exchange and each former share of FelCor common stock will be converted into 0.362 newly issued RLJ common shares. This transaction was previously approved by RLJ’s shareholders and FelCor’s stockholders at their respective special meetings held on August 15, 2017. RLJ Lodging Trust portfolio consists of 158 hotels with approximately 31,180 rooms located in more than half the states in the country.
“We are pleased to complete this transformative merger that creates the preeminent lodging REIT in the upscale focused-service and compact full-service space,” commented Ross H. Bierkan, President and Chief Executive Officer of RLJ Lodging Trust. “Over the coming months we look forward to realizing the benefits of our expanded platform and executing our strategic plan to drive long-term shareholder value.”
