Hogan Lovells is representing RLJ Lodging Trust, a Maryland-based, publicly traded real estate investment trust (REIT), in a merger transaction with Texas-based hotel REIT FelCor Lodging Trust Incorporated that will create the third largest pure-play lodging REIT with a combined enterprise value of US$7 billion. At closing, RLJ will be the largest pure-play public REIT dedicated to owning focused-service and compact full-service hotels.

Under the terms of the all-stock transaction, RLJ’s shareholders are expected to own approximately 71 percent of the combined company’s fully diluted equity, and FelCor’s shareholders are expected to own the remaining 29 percent. The combined company will have ownership interests in 160 hotels, including premium-branded hotels located primarily in urban and coastal markets with multiple demand generators.

Hogan Lovells represented RLJ in its 2011 initial public offering, and serves as the company’s primary outside counsel.  The Hogan Lovells corporate team on this transaction was led by David Bonser and included partners Leslie Reese (corporate) and Cameron Cosby (tax). Partners Lee Berner (real estate), Margaret de Lisser (employee benefits), Prentiss Feagles (tax) and Paul Skelly (employment) also were involved. Associates Matthew Bowles, Michelle Mirabal, Margaret McIntyre, James Smith and George Ingham, among others, also assisted on the transaction.