LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT) that invests in, renovates, and leases full-service luxury hotels in the US. It owns more than 45 properties in 10 states and the District of Columbia. LaSalle Hotel Properties' holdings, which altogether boast more than 12,000 rooms, are typically located in major urban markets near convention centers, business districts, and resorts. The properties are managed by outside hotel companies that operate under such names as Marriott, Sheraton, Hilton, and Hyatt. LaSalle Hotel Properties became self-managing in 2001 after three years under the wing of Jones Lang LaSalle.