Bethesda Doubletree. Photo by Pebblebrook

BETHESDA, MD–This morning Pebblebrook Hotel Trust announced that last week it had made an offer to acquire LaSalle Hotel Properties in an all-stock offer at price that equates to $28.69 per share, according to RBC Capital Market’s calculations. LaSalle rejected the offer, which would have valued it at around $3 billion, stating in a letter that the proposal was “insufficient from both a price and mix of consideration perspective.”