Wed, Feb 26, 8:08 PM (62 days ago)
**Summary of RLJ Lodging Trust's Financial Performance (Ticker: RLJ) for FY 2024** For the fiscal year ended December 31, 2024, RLJ Lodging Trust reported total revenues of approximately $1,369,440,000, reflecting a $43,863 increase from the previous year. Room revenue rose to $1,121,586,000, driven by increased corporate and group travel, with an occupancy rate of 72.6%. However, net income attributable to common shareholders decreased to $42,906,000, down from $51,290,000 in FY 2023, primarily due to increased operating expenses, which totaled $1,219,540,000. Operating expenses rose by $46,320,000, influenced by higher labor costs and inflationary pressures. The company’s debt stood at approximately $2.2 billion, with a significant portion being variable rate debt, exposing it to interest rate fluctuations. The firm maintained a flexible capital structure, including a $600 million revolving credit facility and various term loans. Strategically, RLJ focused on enhancing its portfolio through acquisitions, notably purchasing the fee simple interest in the Wyndham Boston Beacon Hill for $125 million. The firm plans to continue capital recycling and maintain a strong balance sheet. Key risks include economic volatility, competition, and potential impacts from rising interest rates. The company remains committed to its REIT status, requiring it to distribute at least 90% of taxable income, which may affect its liquidity and growth plans.