RLJ Lodging Trust reports 'no material property damage' following hurricanes
RLJ Lodging Trust provided an update with respect to the company's properties following Hurricanes Harvey and Irma. "Our thoughts and prayers go out to the people impacted by these two devastating hurricanes," commented Ross Bierkan, president and CEO. In Texas, all of the company's 11 hotels in the Houston market remain operational. To date, there has been no material property damage reported. RLJ's hotels in the Austin and San Antonio markets have also remained operational and were largely unaffected. In Florida, eight of the company's 20 hotels had been temporarily closed to comply with mandatory evacuation orders. A number of the closed hotels are in the process of reopening as evacuation orders are lifted at their respective locations. Based on preliminary information, no material property damage has been reported. RLJ maintains comprehensive insurance coverage on all of its hotels including property, flood and business interruption. The company is working with its insurance providers to assess the overall impact from the two storms and expects the assessment to take several weeks to complete.