RLJ Lodging Trust Q2 RevPAR +2.6%; raises dividend to $0.15; acquires Hotel Teatro

RLJ Lodging Trust

2024-Q2 EPS reported $0.19 revenue$693,707,000

Q2 RevPAR $157.30 (+2.6% YoY); total revenue $369.3M (+3.5%); net income $37.3M.
Adjusted FFO per diluted share $0.51 (down from $0.56 YoY); Adjusted EBITDA $109.0M.
Acquired 110-room Hotel Teatro in Denver for $35.5M; expected 10% stabilized yield.
Board increased quarterly common dividend to $0.15 from $0.10 (50% increase), payable Oct 15, 2024.
FY 2024 outlook: Comparable RevPAR growth 1.0-2.5%; adj. FFO per share $1.45-$1.58.

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