LaSalle Hotel Properties (NYSE:LHO) Q2 2016 Earnings Conference Call - Final Transcript

Jul 21, 2016 • 11:00 am ET

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LaSalle Hotel Properties (NYSE:LHO) Q2 2016 Earnings Conference Call - Final Transcript

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Presentation
Executive
Ken Fuller

covenants. After including $98 million of pro forma cash on hand, our pro forma debt-to-EBITDA would actually be 2.7 times, further demonstrating our focus on the maintenance of a top-tier balance sheet.

In addition, we finished the quarter with substantial fixed charge coverage of 5.6 times. Furthermore, our maturities are well staggered. Our next meaningful maturity is not until 2019 and the majority of our debt matures beyond that in 2021.

We have substantial flexibility with 44 of our 46 hotels unencumbered by debt. In addition, with nearly $775 million of capacity available on our lines of credit and pro forma cash of nearly $100 million, we have a highly liquid balance sheet, are well positioned to fund our capital needs and to capitalize on opportunities to execute transactions that will benefit our shareholders as they arise. That completes our prepared remarks, and Mike and I would now be happy to answer any questions you may have. Nicole?