LaSalle Hotel Properties has recently reported a significant profit drop in this second quarter of 2009. The earnings were cut in half as room rates and occupancy kept falling down.

The Hotel George in D.C. and the Hilton Alexandria Old Town are suffering the global crisis. According to last year’s net income of $20. million which means 51 cents per share, these hotels went down to a net income of $8.2 million, 16 cents per share in 2009.

Mr. John Bortz, LaSalle Chief Executive commented on this drastic drop:”In light of the substantial reductions in revenues so far this year, our team and our operators continue to develop and implement cost savings measures.”

LaSalle Hotel Properties owns the Hotel George in D.C. and the Hilton Alexandria Old Town among other properties.

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