BETHESDA, Md.--November 15, 2012 -RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that it acquired the 275-room Embassy Suites Boston/Waltham (the “Hotel”), through an off-market transaction, for a purchase price of $64.5 million, or approximately $235,000 per key. The purchase price represents a forward capitalization rate of approximately 7.9% on the hotel's projected 2013 net operating income. The Company purchased this asset with cash available on its balance sheet.

“We are excited to enter the Boston market, one of the strongest performing RevPAR hotel markets in the country,” commented Thomas J. Baltimore, Jr., President and Chief Executive Officer. “This hotel’s recent conversion to an Embassy Suites has positioned this centrally-located asset for exceptional growth.”

The Hotel went through an extensive $12-million brand conversion from a DoubleTree Guest Suites to an Embassy Suites in 2011, one of only three Embassy Suites in the greater Boston area. During the conversion, the guest suites and the public spaces were also significantly upgraded.

The strength of this newly upgraded hotel in Boston’s premier Waltham submarket is evident by the impressive performance it has generated in 2012. With more than 37% RevPAR growth already generated through September, the Company expects that this hotel will continue to produce outsized returns due to its recent brand conversion and its prime location within this excellent market.

The Hotel’s prime location in Boston’s submarket of Waltham, provides the Hotel with a wide variety of demand generators. Waltham’s economy is heavily concentrated in education and high tech and is recognized as a central hub for national and international biotech, technology, and information system companies, such as Raytheon, IBM, Novell, and Verizon. With more than 15 million square feet of office space in this Boston submarket, the Hotel benefits from strong corporate demand. The property itself is proximate to multiple corporate office parks and two universities. Additionally, the Hotel’s all-suite product is an attractive option to the more than 18 million leisure travelers that visit the greater Boston area annually.

The acquisition of this premium-branded hotel is compliant with the Company’s overall investment thesis. With the addition of this new hotel, the Company now owns 145 hotels with more than 21,600 rooms across 21 states and the District of Columbia.

About Us
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. Additional information may be found on the Company’s website at http://rljlodgingtrust.com.

Forward Looking Statements
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