RLJ Lodging Trust is to issue an IPO worth $550m to repay its debt and for general business purposes.

Following the IPO, the US-based trust, which primarily invests in premium-branded hotels, will own 140 hotels in 19 US states and the District of Columbia, comprising over 20,400 rooms.

The trust, however, did not reveal how many shares it plans to sell or its expected price.

The hotels will operate under the Marriott, Hilton and Hyatt brands, according to The Wall Street Journal.