Blackstone builds out hotel portfolio with LaSalle buy

Real estate investment trust LaSalle Hotel Properties on Monday batted down yet another takeover bid from Pebblebrook Hotel Trust, nearly a month after it agreed to be acquired by Blackstone fund Real Estate Partners VIII for $3.7bn. LaSalle owns 41 commercial properties across the US, including two high-end resorts in Key West and the luxury Gild Hall hotel in New York.