RLJ Lodging Trust and FelCor Lodging Trust Announce Change to Dates of Special Meetings

BETHESDA, Md. & IRVING, Texas–(BUSINESS WIRE)–RLJ Lodging Trust ( “RLJ”) (NYSE:RLJ) and FelCor Lodging Trust
Incorporated (“FelCor”) (NYSE:FCH) today announced that RLJ has changed
the date of the Special Meeting of its Shareholders (the “RLJ Special
Meeting”) to Tuesday, August 15, 2017 at 1:00 p.m. Eastern Time, and
that FelCor has changed the date of the Special Meeting of its
Stockholders (the “FelCor Special Meeting”) to Tuesday, August 15, 2017
at 5:00 p.m. Central Time. The RLJ Special Meeting will be held at RLJ’s
corporate headquarters at 3 Bethesda Metro Center, Suite 1000, Bethesda,
Maryland 20814 and the FelCor Special Meeting will be held at FelCor’s
corporate headquarters at 125 E. John Carpenter Freeway, Suite 1600,
Irving, Texas 75062.

The record date for determining those shareholders and stockholders
entitled to vote at each of the RLJ Special Meeting and the FelCor
Special Meeting, respectively, has not changed and will remain as the
close of business on Thursday, July 6, 2017. At the RLJ Special Meeting,
RLJ’s shareholders will be asked to vote on the issuance of common
shares of beneficial interest, par value $0.01 per share, of RLJ in
connection with the previously announced agreement and plan of merger
pursuant to which FelCor will merge with and into a subsidiary of RLJ in
a stock-for-stock transaction (the “Merger”). At the FelCor Special
Meeting, FelCor’s stockholders will be asked to vote on a proposal to
approve the Merger. RLJ and FelCor continue to expect the closing of the
Merger to occur on or about August 31, 2017, assuming all conditions to
closing are satisfied (including the approval of shareholders and
stockholders of both companies at the meetings described above).

About RLJ Lodging Trust

RLJ Lodging Trust is a self-advised, publicly traded real estate
investment trust focused on acquiring premium-branded, focused-service
and compact full-service hotels. RLJ owns 122 hotels with approximately
20,100 rooms, located in 21 states and the District of Columbia.

About FelCor Lodging Trust Incorporated

FelCor Lodging Trust Incorporated, a Maryland corporation, owns a
diversified portfolio of primarily upper-upscale full-service hotels
that are located in major urban and resort markets throughout the U.S.
FelCor partners with leading hotel companies who operate its properties
under globally renowned names and as premier independent hotels.

Forward Looking Statements

Certain statements in this press release that are not in the present or
past tense or that discuss the expectations of RLJ and/or FelCor are
forward-looking statements within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. These forward looking
statements, which are based on current expectations, estimates and
projections about the industry and markets in which RLJ and FelCor
operate and beliefs of and assumptions made by RLJ management and FelCor
management, involve uncertainties that could significantly affect the
financial results of RLJ or FelCor or the combined company. Words such
as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” “forecast,” “guidance,” “outlook,” “may,” and “might” and
variations of such words and similar expressions are intended to
identify such forward looking statements, which generally are not
historical in nature. Such forward-looking statements may include, but
are not limited to, statements about the anticipated benefits of the
proposed merger between RLJ and FelCor, including future financial and
operating results, the attractiveness of the value to be received by
FelCor stockholders, the attractiveness of the value to be received by
RLJ, the combined company’s plans, objectives, expectations and
intentions, the timing of future events, anticipated administrative and
operating synergies, the anticipated impact of the merger on net debt
ratios, cost of capital, future dividend payment rates, forecasts of FFO
accretion, projected capital improvements, expected sources of
financing, and descriptions relating to these expectations. All
statements that address operating performance, events or developments
that we expect or anticipate will occur in the future — including
statements relating to expected synergies, improved liquidity and
balance sheet strength — are forward looking statements. These
statements are not guarantees of future performance and involve certain
risks, uncertainties and assumptions that are difficult to predict.
Although we believe the expectations reflected in any forward-looking
statements are based on reasonable assumptions, we can give no assurance
that our expectations will be attained and therefore, actual outcomes
and results may differ materially from what is expressed or forecasted
in such forward looking statements. Some of the factors that may affect
outcomes and results include, but are not limited to: (i) national,
regional and local economic climates, (ii) changes in the real estate
industry, financial markets and interest rates, or to the business or
financial condition of either company or business (iii) increased or
unanticipated competition for the companies’ properties, (iv) risks
associated with acquisitions, including the integration of the combined
companies’ businesses, (v) the potential liability for the failure to
meet regulatory requirements, including the maintenance of REIT status,
(vi) availability of financing and capital, (vii) risks associated with
achieving expected revenue synergies or cost savings, (viii) risks
associated with the companies’ ability to consummate the merger and the
timing of the closing of the merger, (ix) the outcome of claims and
litigation involving or affecting either company, (x) applicable
regulatory changes, and (xi) those additional risks and factors
discussed in reports filed with the Securities and Exchange
Commission (“SEC”) by RLJ and FelCor from time to time, including those
discussed under the heading “Risk Factors” in their respective most
recently filed reports on Forms 10K and 10Q. Neither RLJ nor FelCor
undertakes any duty to update any forward looking statements appearing
in this document.

Additional Information about the Proposed
Merger and Where to Find It

This communication relates to the proposed transaction pursuant to the
terms of the Agreement and Plan of Merger, dated as of April 23, 2017,
by and among RLJ, FelCor and the other entities party thereto. In
connection with the proposed merger, RLJ has filed with the SEC a
registration statement on Form S-4 (which registration statement has not
yet been declared effective) that includes a joint proxy statement of
RLJ and FelCor that also constitutes a prospectus of RLJ, which joint
proxy statement/prospectus has not yet been declared effective. RLJ and
FelCor also plan to file other relevant documents with the SEC regarding
INFORMATION. You may obtain a free copy of the joint proxy
statement/prospectus and other relevant documents (if and when they
become available) filed by RLJ and FelCor with the SEC at
the SEC’s website at www.sec.gov.
Copies of the documents filed by RLJ with the SEC will be available free
of charge on RLJ’s website at www.rljlodgingtrust.com
or by emailing RLJ Investor Relations at ir@rljlodgingtrust.com or
at 301-280-7774. Copies of the documents filed by FelCor with
the SEC will be available free of charge on FelCor’s website at www.felcor.com or
by contacting FelCor Investor Relations at asalami@felcor.com or
at 972-444-4967.

Certain Information Regarding Participants

RLJ and FelCor and their respective trustees, directors 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 merger. You can find information about RLJ’s executive officers
and Trustees in RLJ’s definitive proxy statement filed with
the SEC on March 28, 2017 in connection with its 2017 annual meeting of
shareholders and in Form 4s of RLJ’s trustees and executive officers
filed with the SEC. You can find information about FelCor’s executive
officers and directors in Amendment No. 1 to FelCor’s Annual Report on
Form 10-K for the year ended December 31, 2016 on Form 10-K/A filed with
the SEC on April 28, 2017 and in Form 4s of FelCor’s directors and
executive officers filed with the SEC. Additional information regarding
the interests of such potential participants will be included in the
joint proxy statement/prospectus and other relevant documents filed with
the SEC if and when they become available. You may obtain free copies of
these documents from RLJ or FelCor using the sources indicated above.

No Offer or Solicitation

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 U.S. Securities Act of 1933, as amended.


RLJ Lodging Trust
Leslie D. Hale, Chief Operating
Officer and Chief Financial Officer
Lodging Trust
Michael C. Hughes, Chief Financial