LaSalle Hotel Properties was organized as a Maryland real estate investment trust on January 15, 1998. The Company's business includes to buy, own, redevelop and lease upscale and luxury full-service hotels located in convention, resort and urban business markets. The Company is a self-managed and self-administered real estate investment trust. As of December 31, 2013, the Company owned interests in 45 hotels with approximately 11,400 guest rooms located in 10 states and the District of Columbia. The Company through a joint venture in which the Company holds a 99.99% controlling interest, acquired a majority ownership interest in The Liberty Hotel, a 298-room full-service, luxury hotel located in Boston, MA. The Company is subject to various federal, state and local laws, ordinances and regulations relating to environmental protection.