RLJ Lodging Trust Q1 revenue up 3.1% to $324M; net income down 55% to $4.7M

RLJ Lodging Trust

2024-Q1 EPS reported -$0.01 revenue$324,410,000

Comparable RevPAR $137.88, up 1.0% YoY; ADR flat, occupancy up 1.2%.
Acquired 304-room Wyndham Boston Beacon Hill for $125M funded with cash.
Adjusted FFO per diluted share $0.33 vs $0.35 prior year; Q2 RevPAR expected below mid-point due to soft April.
Reaffirmed FY24 outlook: RevPAR growth 2.5%-5.5%, Adj EBITDA $360M-$390M, Adj FFO $1.55-$1.75/share.
Total liquidity $1.0B; extended $181M mortgage loans to April 2025, drew $200M revolver to pay maturing debt.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RLJ Lodging Trust reported three months ended March 31, 2024 results: revenue $324,410, net income $4,746, EPS $0.33. Guidance reaffirmed.

Period: three months ended March 31, 2024
Revenue: $324,410
Net income: $4,746
EPS: $0.33
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Operational Overview: (1) Comparable ADR $198.84 $199.07 (0.1)% Comparable Occupancy 69.3% 68.5% 1.2% Comparable RevPAR $137.88 $136.45 1.0% Financial Overview: Total Revenue $324,410 $314,503 3.1% Comparable Hotel Revenue $324,392 $314,488 3.1% Net Income $4,746 $10,514 (54.9)% Comparable Hotel EBITDA $88,855 $90,926 (2.3)% Comparable Hotel EBITDA Margin 27.4%

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Source: SEC EDGAR

accession 0001511337-24-000010

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