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Pebblebrook Hotel Trust Files Investor Presentation

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Urges Shareholders to Vote AGAINST the LaSalle-Blackstone Merger on
the GOLD Proxy Card

Pebblebrook Hotel Trust (NYSE:PEB) ("Pebblebrook") today filed an
investor presentation with the U.S. Securities and Exchange Commission
in connection with its opposition to LaSalle Hotel Properties' (NYSE: LHO) ("LaSalle") merger agreement with BRE Landmark L.P. ("BRE"), an
affiliate of the Blackstone Group L.P. (NYSE:BX) (together with BRE,
"Blackstone").

"We continue to strongly oppose LaSalle's "take-under" agreement with
Blackstone, and today publicly released a presentation outlining our
rationale in detail so that LaSalle shareholders can arm themselves with
the facts in advance of the vote," said Jon E. Bortz, Chairman,
President and Chief Executive Officer of Pebblebrook Hotel Trust. "It is
clear to us that the LaSalle Board has run a flawed process and has so
far failed its shareholders in arriving at its decision to support a
transaction that represents an egregious transfer of shareholder value
to Blackstone. This "Never Pebblebrook" stance that led to their
rejection of our clearly superior offer is unacceptable. By voting the
GOLD Card AGAINST the proposals, you are sending a message to the
LaSalle Board that you do not support this take-under, and believe there
should be a better outcome for shareholders: to engage with us and enter
into a value-maximizing agreement."

Pebblebrook's July 20, 2018 superior offer for a strategic combination
with LaSalle remains outstanding, and will continue to remain
outstanding for a reasonable time after shareholders reject the
Blackstone deal. When the LaSalle Board terminates that agreement,
Pebblebrook is prepared to move forward with its offer immediately.

The presentation can be accessed by visiting the Investor Relations
section of Pebblebrook's website, investor.pebblebrookhotels.com
or by clicking here.

PEBBLEBROOK URGES SHAREHOLDERS TO MAKE SURE THEIR VOICES ARE HEARD AT
THE SEPTEMBER 6
TH MEETING BY VOTING AGAINST THE
PROPOSED TAKE-UNDER TRANSACTION ON THE GOLD PROXY CARD

VOTING INSTRUCTIONS: VOTE THE GOLD PROXY CARD

To vote "AGAINST" the BRE Proposal, the Payout Proposal and the
Adjournment Proposal at the Special Meeting, please follow these
instructions.

We urge you to vote in advance of the meeting by signing and dating the
GOLD proxy card and returning it using the postage-paid envelope mailed
to you.

Vote by Mail

If you hold LaSalle Common Shares directly in your name as a
shareholder of record
, please complete, sign and date the GOLD
proxy card and return it promptly in the postage-paid envelope.

To be able to vote your LaSalle Common Shares in accordance with your
instructions at the Special Meeting, please send us your proxy as soon
as possible. You may vote your LaSalle Common Shares without submitting
a proxy to us if you vote in person or submit a proxy to LaSalle.

If you hold LaSalle Common Shares in "street name,"
meaning through a broker, bank, nominee or other holder of record
,
to vote by mail, you will need to sign, date and mark the voting
instruction form provided by your broker, bank, nominee or other holder
of record with the proxy materials mailed to you and return it in the
postage-paid return envelope provided. Your broker, bank, nominee or
other holder of record must receive your voting instruction form in
sufficient time to vote your shares.

Vote in Person

If you hold LaSalle Common Shares directly in your name as a
shareholder of record
, you may vote in person at the Special
Meeting on September 6. Shareholders of record also may be represented
by another person at the Special Meeting by executing a proper proxy
designating that person in writing.

However, if you hold LaSalle Common Shares in "street name,"
meaning through a broker, bank, nominee or other holder of record
,
you must obtain a legal proxy from that institution in order to vote
your LaSalle Common Shares at the Special Meeting. To request a legal
proxy, please contact your broker, bank, nominee or other holder of
record.

Vote by Telephone

If you hold LaSalle Common Shares in "street name," meaning
through a broker, bank, nominee or other holder of record
,
locate the Control Number located in the box on your GOLD Voting
Instruction Form, dial 1 (800) 454-8683 and follow the voting
instructions.

Vote by the Internet

If you hold LaSalle Common Shares in "street name," meaning
through a broker, bank, nominee or other holder of record
,
locate the Control Number located in the box on your GOLD Voting
Instruction Form, go to www.Proxyvote.com
to vote.

For Additional Information

Okapi Partners LLC, or Okapi, is assisting Pebblebrook with its efforts
to solicit proxies. If you have any questions concerning Pebblebrook's
Definitive Proxy Statement or to request a proxy card, please contact:

Okapi Partners LLC 1212 Avenue of the Americas, 24th Floor
New
York, NY 10036
(212) 297-0720
Shareholders may call toll free:
(855) 305-0855
E-mail: info@okapipartners.com

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment
trust ("REIT") organized to opportunistically acquire and invest
primarily in upper upscale, full-service hotels located in urban markets
in major gateway cities. The Company owns 28 hotels, with a total of
6,973 guest rooms. The Company owns hotels located in 9 states and the
District of Columbia, including: Los Angeles, California (Beverly Hills,
Santa Monica and West Hollywood); San Diego, California; San Francisco,
California; Washington, DC; Coral Gables, Florida; Naples, Florida;
Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota;
Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee;
Columbia River Gorge, Washington; and Seattle, Washington. For more
information, please visit us at www.pebblebrookhotels.com
and follow us on Twitter at @PebblebrookPEB.

ADDITIONAL INFORMATION

This communication does not constitute an offer to buy or solicitation
of an offer to sell any securities. This communication relates to a
proposal which Pebblebrook has made for a business combination
transaction with LaSalle. In furtherance of this proposal and subject to
future developments, Pebblebrook (and, if a negotiated transaction is
agreed, LaSalle) may file one or more registration statements, proxy
statements, tender or exchange offer statements, prospectuses or other
documents with the SEC. This communication is not a substitute for any
proxy statement, registration statement, tender or exchange offer
statement, prospectus or another document Pebblebrook or LaSalle may
file with the SEC in connection with the proposed transaction. INVESTORS
AND SECURITY HOLDERS OF PEBBLEBROOK AND LASALLE ARE URGED TO READ ANY
SUCH PROXY STATEMENT, REGISTRATION STATEMENT, TENDER OR EXCHANGE OFFER
STATEMENT, PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY
AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any
definitive proxy statement or prospectus (if and when available) will be
delivered to shareholders of LaSalle or Pebblebrook, as applicable.
Investors and security holders will be able to obtain free copies of
these documents (if and when available) and other documents filed with
the SEC by Pebblebrook through the website maintained by the SEC at http://www.sec.gov.

Pebblebrook or LaSalle and their respective trustees and executive
officers and other members of management and employees may be deemed to
be participants in the solicitation of proxies in respect of the
proposed transaction. You can find information about Pebblebrook's
executive officers and trustees in Pebblebrook's definitive proxy
statement filed with the SEC on April 27, 2018. You can find information
about LaSalle's executive officers and trustees in LaSalle's definitive
proxy statement filed with the SEC on March 22, 2018. Additional
information regarding the interests of such potential participants will
be included in one or more registration statements, proxy statements,
tender or exchange offer statements or other documents filed with the
SEC if and when they become available. You may obtain free copies of
these documents using the sources indicated above.

In connection with the proposed merger transaction between LaSalle and
affiliates of Blackstone, which Pebblebrook opposes (the "Proposed BRE
Merger"), LaSalle filed a definitive proxy statement with the SEC on
July 30, 2018 (the "LaSalle Proxy Statement"). On July 30, 2018,
Pebblebrook filed a definitive proxy statement with the SEC in
opposition that proposed merger transaction (the "Pebblebrook Proxy
Statement"). This communication is not a substitute for the LaSalle
Proxy Statement or the Pebblebrook Proxy Statement or for any other
document that LaSalle or Pebblebrook have filed or may file with the SEC
or send to LaSalle shareholders in connection with the Proposed BRE
Merger. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY
HOLDERS OF LASALLE ARE URGED TO READ THE LASALLE PROXY STATEMENT, THE
PEBBLEBROOK PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT PEBBLEBROOK, LASALLE, THE PROPOSED BRE MERGER AND
RELATED MATTERS. Investors and security holders are able to obtain free
copies of the LaSalle Proxy Statement, the Pebblebrook Proxy Statement
and other documents filed by LaSalle or Pebblebrook with the SEC through
the website maintained by the SEC at http://www.sec.gov.
Copies of the documents filed by LaSalle with the SEC are also available
free of charge on LaSalle's website at www.lasallehotels.com,
or by contacting LaSalle's Investor Relations Department at (301)
941-1500. Copies of the documents filed by Pebblebrook with the SEC are
also available free of charge on Pebblebrook's website at www.pebblebrookhotels.com,
or by contacting Pebblebrook's Investor Relations at (240) 507-1330.
LaSalle and its trustees and certain of its executive officers may be
considered participants in the solicitation of proxies from LaSalle's
shareholders with respect to the Proposed BRE Merger under the rules of
the SEC. Information about the trustees and executive officers of
LaSalle is set forth in LaSalle's Annual Report on Form 10-K for the
year ended December 31, 2017, which was filed with the SEC on February
20, 2018, LaSalle's proxy statement for its 2018 annual meeting of
shareholders, which was filed with the SEC on March 22, 2018, and in
subsequent documents filed by LaSalle with the SEC. Additional
information regarding persons who may be deemed participants in the
proxy solicitations and a description of their direct and indirect
interests, by security holdings or otherwise, is included in the LaSalle
Proxy Statement and may be included in other relevant materials to be
filed with the SEC. Pebblebrook and its trustees and executive officers
and other members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the Proposed
BRE Merger. You can find information about Pebblebrook's executive
officers and trustees in Pebblebrook's definitive proxy statement filed
with the SEC on April 27, 2018. You may obtain free copies of this
document as described above.

This document shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended.

Forward-Looking Statements

This communication may include "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to, statements
regarding Pebblebrook's offer to acquire LaSalle, its financing of the
proposed transaction, its expected future performance (including
expected results of operations and financial guidance), and the combined
company's future financial condition, operating results, strategy and
plans. Forward-looking statements may be identified by the use of the
words "anticipates," "expects," "intends," "plans," "should," "could,"
"would," "may," "will," "believes," "estimates," "potential," "target,"
"opportunity," "tentative," "positioning," "designed," "create,"
"predict," "project," "seek," "ongoing," "upside," "increases" or
"continue" and variations or similar expressions. These statements are
based upon the current expectations and beliefs of management and are
subject to numerous assumptions, risks and uncertainties that change
over time and could cause actual results to differ materially from those
described in the forward-looking statements. These assumptions, risks
and uncertainties include, but are not limited to, assumptions, risks
and uncertainties discussed in Pebblebrook's most recent annual or
quarterly report filed with the SEC and assumptions, risks and
uncertainties relating to the proposed transaction, as detailed from
time to time in Pebblebrook's and LaSalle's filings with the SEC, which
factors are incorporated herein by reference. Important factors that
could cause actual results to differ materially from the forward-looking
statements made in this communication are set forth in other reports or
documents that Pebblebrook may file from time to time with the SEC, and
include, but are not limited to: (i) the ultimate outcome of any
possible transaction between Pebblebrook and LaSalle, including the
possibilities that LaSalle will reject a transaction with Pebblebrook,
(ii) the ultimate outcome and results of integrating the operations of
Pebblebrook and LaSalle if a transaction is consummated, (iii) the
ability to obtain regulatory approvals and meet other closing conditions
to any possible transaction, including the necessary shareholder
approvals, and (iv) the risks and uncertainties detailed by LaSalle with
respect to its business as described in its reports and documents filed
with the SEC. All forward-looking statements attributable to Pebblebrook
or any person acting on Pebblebrook's behalf are expressly qualified in
their entirety by this cautionary statement. Readers are cautioned not
to place undue reliance on any of these forward-looking statements.
These forward-looking statements speak only as of the date hereof.
Pebblebrook undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after the
date of this communication or to reflect actual outcomes.

For additional information or to receive press releases via email,
please visit our website at
www.pebblebrookhotels.com

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