H/2 Credit Manager reveals 6.3% RLJ Lodging Trust (RLJ) ownership stake

Rhea-AI Filing Summary

RLJ Lodging Trust received a Schedule 13G reporting that investment adviser H/2 Credit Manager LP and its general partner H/2 Credit Manager GP LLC beneficially own 9,583,184 common shares, representing 6.3% of the outstanding class as of 12/31/2025.

The filing shows H/2 has shared voting and shared dispositive power over all 9,583,184 shares, with no sole voting or dispositive power. The securities are held in private funds managed by H/2 affiliates and are reported as being held in the ordinary course of business, not to change or influence control of RLJ Lodging Trust.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

RLJ Lodging Trust

(Name of Issuer)

Common Shares of beneficial interest, par value $0.01 per share

(Title of Class of Securities)

74965L101

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 74965L101

1

Names of Reporting Persons

H/2 CREDIT MANAGER LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,583,184.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,583,184.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,583,184.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 74965L101

1

Names of Reporting Persons

H/2 CREDIT MANAGER GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,583,184.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,583,184.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,583,184.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: RLJ Lodging Trust
(b)	Address of issuer's principal executive offices: 7373 Wisconsin Avenue, Suite 1500, Bethesda, MARYLAND, 20814.
Item 2.
(a)	Name of person filing: This Schedule 13G is filed by the following Reporting Persons: (i) H/2 Credit Manager LP is the principal investment manager to a number of private funds (collectively, the "H/2 Funds"). H/2 SO Manager IV LP and H/2 SO Manager V LP are Delaware limited partnerships and relying advisers to H/2 Credit Manager LP that serve as investment managers to certain H/2 Funds. The shares reported in this Schedule 13G are held in the H/2 Funds advised by H/2 SO Manager IV LP and H/2 SO Manager V LP. (ii) H/2 Credit Manager GP LLC is the general partner of H/2 Credit Manager LP. Together with H/2 SO Manager GP IV LLC and H/2 SO Manager GP V LLC, the general partners of the relying advisers, H/2 Credit Manager GP LLC may be deemed to be the indirect beneficial owners of the shares of Common Stock by virtue of such position.
(b)	Address or principal business office or, if none, residence: c/o H/2 Credit Manager LP 680 Washington Boulevard, Seventh Floor Stamford, CT 06901
(c)	Citizenship: H/2 Credit Manager LP is a Delaware limited partnership. H/2 Credit Manager GP LLC is a Delaware liability company.
(d)	Title of class of securities: Common Shares of beneficial interest, par value $0.01 per share
(e)	CUSIP No.: 74965L101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 of the cover page for each Reporting Person.
(b)	Percent of class: See Item 11 of the cover page for each Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 of the cover page for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: See Item 6 of the cover page for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 of the cover page for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 of the cover page for each Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

H/2 CREDIT MANAGER LP

Signature:	Alyssa Petrenko
Name/Title:	Authorized Signatory
Date:	02/17/2026

H/2 CREDIT MANAGER GP LLC

Signature:	Alyssa Petrenko
Name/Title:	Authorized Signatory
Date:	02/17/2026

Exhibit Information

Exhibit 1: Joint Filing Agreement