Welcome to our dedicated page for RLJ Lodging Trust news (Ticker: RLJ), a resource for investors and traders seeking the latest updates and insights on RLJ Lodging Trust stock.
RLJ Lodging Trust reports developments as a self-advised, publicly traded real estate investment trust focused on premium-branded, rooms-oriented hotels in urban demand locations. Company updates commonly address hotel revenue, occupancy, average daily rate, RevPAR, Comparable Hotel EBITDA, adjusted EBITDA and adjusted FFO across a geographically diverse lodging portfolio serving business, leisure and other travel demand.
Recurring announcements also cover quarterly earnings schedules, common-share and Series A Preferred Share dividends, dividend tax treatment, renovations and hotel conversions when disclosed, and balance-sheet actions such as revolving credit facilities, unsecured term loans, mortgage refinancing and debt maturity management.
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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