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Sep 30, 2024
RLJ Q3 2024 Earnings Report
Reported third quarter results, with RevPAR increasing by 2.0% compared to 2023 and redeployed disposition proceeds to repurchase $20.7 million of common shares.
Key Takeaways
RLJ Lodging Trust reported solid third-quarter results, exceeding expectations with RevPAR growth two times the industry average. The company executed key initiatives, including addressing near-term maturities, completing conversions, repurchasing stock, raising the quarterly dividend by 50%, and reaffirming its outlook.
Portfolio Comparable RevPAR of $145.23; an increase of 2.0% from last year
Comparable Hotel Revenue of $344.7 million; an increase of 3.0% from last year
Net Income of $20.6 million
Adjusted FFO per diluted common share and unit of $0.40
RLJ
RLJ
RLJ Revenue by Segment
Forward Guidance
The Company is reaffirming its prior full-year outlook for all assets owned as of November 6, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income