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Dec 31, 2019
RLJ Q4 2019 Earnings Report
RLJ Lodging Trust reported results for the fourth quarter of 2019.
Key Takeaways
RLJ Lodging Trust reported a net income of $34.9 million and an Adjusted EBITDA of $96.3 million for the fourth quarter of 2019. The company successfully sold five hotels in Austin, TX for $67.6 million and repurchased 0.7 million shares for approximately $12.2 million.
Pro forma RevPAR decreased by 0.5%.
Pro forma Hotel EBITDA Margin was 30.0%.
Net income reached $34.9 million.
Adjusted EBITDA totaled $96.3 million.
Forward Guidance
The Company’s outlook includes only hotels owned as of February 25, 2020. For the full year 2020, the Company anticipates: Pro forma RevPAR growth-1.5% to +0.5%, Pro forma Hotel EBITDA Margin 29.4% to 31.0%, Pro forma Consolidated Hotel EBITDA $413.0M to $443.0M, Corporate Cash General & Administrative Expense $35.0M to $36.0M, Adjusted EBITDA $378.0M to $408.0M, Adjusted FFO per Diluted Share and Unit $1.62 to $1.77
Positive Outlook
- Pro forma RevPAR growth -1.5% to +0.5%
- Pro forma Hotel EBITDA Margin 29.4% to 31.0%
- Pro forma Consolidated Hotel EBITDA $413.0M to $443.0M
- Corporate Cash General & Administrative Expense $35.0M to $36.0M
- Adjusted EBITDA $378.0M to $408.0M
Challenges Ahead
- The outlook does not incorporate the refinancing of the $475 million senior unsecured notes.
- The outlook does not incorporate any incremental share repurchases.
- Future acquisitions or dispositions are also not assumed in the Company's outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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