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RLJ Lodging Trust (NYSE: RLJ) is a self-advised, publicly traded real estate investment trust (REIT) specializing in the acquisition of premium-branded, focused-service, and compact full-service hotels. The company boasts a diverse portfolio of 125 properties, encompassing approximately 20,800 rooms situated across 21 states and the District of Columbia. RLJ Lodging Trust's strategic focus is on major urban areas and densely populated markets, catering to a wide range of travelers, including business, leisure, and other segments.
RLJ Lodging Trust's hotel portfolio includes prominent brands such as Marriott, Hilton, and Hyatt, ensuring high standards of service and widespread recognition. These properties are strategically located in key urban centers, dense suburban markets, and bustling business districts, maximizing their appeal to various demand generators.
The company's revenue streams are primarily derived from hotel operations, which include room sales, food and beverage services, and other property-related income. RLJ Lodging Trust has demonstrated financial stability, with a substantial portion of its revenue coming from the operation of these high-performing hotels.
In recent developments, RLJ Lodging Trust continues to expand and optimize its portfolio through strategic acquisitions and partnerships. The company remains committed to enhancing shareholder value by focusing on properties that offer strong growth potential and significant demand drivers. RLJ Lodging Trust's ongoing projects and recent achievements highlight its dedication to maintaining a robust and geographically diverse portfolio that meets the evolving needs of the hospitality industry.
To stay updated on RLJ Lodging Trust's latest performance, events, and developments, visit their news section for the most recent updates.
RLJ Lodging Trust reported Q3 2024 results with a 2.0% RevPAR increase to $145.23 compared to 2023. The company achieved Comparable Hotel Revenue of $344.7 million, up 3.0%, and Net Income of $20.6 million. Key highlights include entering a new $500.0 million term loan, repurchasing 1.6 million shares for $14.8 million, and increasing quarterly dividend by 50%. The company maintained total liquidity of $885.4 million and reaffirmed its full-year 2024 outlook with RevPAR growth projected at 1.0% to 2.5%.
RLJ Lodging Trust (NYSE: RLJ), a self-advised real estate investment trust specializing in premium-branded hotels, has announced its dividend payments for the third quarter of 2024. The company's Board of Trustees has declared a quarterly cash dividend of $0.15 per common share, payable on October 15, 2024, to shareholders of record as of September 30, 2024. Additionally, a quarterly cash dividend of $0.4875 on the Company's Series A Preferred Shares has been declared, payable on October 31, 2024, to shareholders of record as of September 30, 2024.
RLJ Lodging Trust (NYSE: RLJ) has announced its schedule for reporting third quarter 2024 financial results. The company will release its earnings report on November 6, 2024, after market close. A conference call to discuss the results is set for November 7, 2024, at 12:00 p.m. Eastern Time. Investors can access the call by dialing (877) 407-3982 or (201) 493-6780 for international participants.
A replay of the call will be available from 4:00 p.m. on November 7 until November 21, 2024. Additionally, a live webcast of the conference call will be accessible on the company's website, with a replay archived in the Investor Relations section. RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust specializing in premium-branded, high-margin, focused-service and compact full-service hotels.
RLJ Lodging Trust has acquired the Hotel Teatro in Denver for $35.5 million, expanding its portfolio of lifestyle properties in urban locations. The 110-room boutique hotel, converted from a historic building, is expected to generate a 10% stabilized yield. Located in Denver's CBD, the hotel benefits from its proximity to key attractions and is poised to capitalize on the city's growing economy and tourism sector.
The acquisition price represents a significant discount to recent trades and replacement cost, showcasing RLJ's advantage as an all-cash buyer. The property will be managed by Sage Hospitality Group, the largest hotel operator in Denver. This strategic move aligns with RLJ's focus on high-quality, premium-branded hotels in prime locations that cater to diverse demand segments.
RLJ Lodging Trust (NYSE: RLJ) reported positive Q2 2024 results, with RevPAR increasing 2.6% to $157.30 compared to last year. The company saw total revenue rise 3.5% to $369.3 million, while net income reached $37.3 million. RLJ acquired Hotel Teatro in Denver for $35.5 million and repurchased 0.3 million shares for $3.1 million. The company also increased its quarterly dividend to $0.15 per share.
Key financial highlights include:
- Adjusted EBITDA of $109.0 million
- Adjusted FFO per diluted share of $0.51
- Total liquidity of $771.1 million as of June 30, 2024
RLJ updated its full-year 2024 outlook, projecting Comparable RevPAR growth of 1.0% to 2.5% and Adjusted FFO per diluted share of $1.45 to $1.58.
RLJ Lodging Trust (NYSE: RLJ) announced a quarterly cash dividend of $0.10 per common share, payable on July 15, 2024, to shareholders of record as of June 28, 2024. Additionally, the Board declared a quarterly cash dividend of $0.4875 per Series A Preferred Share, payable on July 31, 2024, to shareholders of record as of the same date.
RLJ Lodging Trust specializes in owning premium-branded, high-margin, focused-service, and compact full-service hotels.
RLJ Lodging Trust (NYSE: RLJ) will release its Q2 2024 financial results after market close on August 1, 2024.
A conference call to discuss the results is scheduled for August 2, 2024, at 10:00 a.m. ET.
The call can be accessed by dialing specific numbers for domestic and international participants.
A replay of the call will be available from August 2 to August 16, 2024, and can be accessed by dialing designated replay numbers.
A live webcast and replay will also be accessible on RLJ Lodging Trust's website.
RLJ Lodging Trust is a publicly traded real estate investment trust focusing on premium-branded, high-margin hotels.
RLJ Lodging Trust reported strong first-quarter 2024 results, with a 1.0% increase in RevPAR and Adjusted FFO per diluted share of $0.33. The company expanded its conversion pipeline by acquiring Wyndham Boston Beacon Hill. Despite a decrease in net income and comparable hotel EBITDA, the company's total revenue saw a 3.1% increase. RLJ's balance sheet remains strong with $1.0 billion in total liquidity, and the company reaffirmed its annual outlook for 2024.
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