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RLJ-PA

RLJ Lodging Trust

RLJ-PA

RLJ Lodging Trust • NYSE
$25.10 ▼ -0.16% (-0.04)
Market Cap $3.79 B
52w High $26.22
52w Low $22.80
Dividend Yield 1.95%
P/E -15.39
Volume 31.83K
Outstanding Shares 151.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $330.045M ▼ $58.778M ▲ $-3.736M ▼ -1.132% ▼ $-0.069 ▼ $70.986M ▼
Q2-2025 $363.103M ▲ $57.501M ▼ $28.453M ▲ 7.836% ▲ $0.15 ▲ $102.347M ▲
Q1-2025 $328.119M ▼ $58.434M ▲ $3.362M ▼ 1.025% ▼ $-0.02 ▼ $76.053M ▼
Q4-2024 $329.989M ▼ $58.364M ▲ $5.376M ▼ 1.629% ▼ $-0.007 ▼ $79.076M ▼
Q3-2024 $345.744M $57.673M $20.602M 5.959% $0.092 $94.222M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $374.827M ▲ $4.793B ▼ $2.585B ▲ $2.195B ▼
Q2-2025 $373.896M ▲ $4.823B ▲ $2.583B ▲ $2.227B ▼
Q1-2025 $347.526M ▼ $4.818B ▼ $2.57B ▼ $2.234B ▼
Q4-2024 $409.809M ▲ $4.884B ▼ $2.586B ▲ $2.285B ▼
Q3-2024 $385.384M $4.888B $2.572B $2.302B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.798M ▼ $63.301M ▼ $-29.887M ▲ $-30.515M ▲ $2.899M ▼ $63.301M ▼
Q2-2025 $28.631M ▲ $101.32M ▲ $-34.513M ▼ $-38.039M ▲ $28.768M ▲ $101.32M ▲
Q1-2025 $3.172M ▼ $16.3M ▼ $-23.673M ▲ $-53.558M ▼ $-60.931M ▼ $16.3M ▼
Q4-2024 $5.376M ▼ $71.026M ▼ $-29.48M ▼ $-32.563M ▲ $8.983M ▼ $41.59M ▲
Q3-2024 $20.602M $73.007M $-21.212M $-41.759M $17.128M $38.331M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Food and Beverage
Food and Beverage
 $40.00M ▲$40.00M ▲$40.00M ▲$40.00M ▲
Hotel Other
Hotel Other
 $30.00M ▲$20.00M ▼$20.00M ▲$30.00M ▲
Occupancy
Occupancy
 $280.00M ▲$270.00M ▼$270.00M ▲$300.00M ▲

Five-Year Company Overview

Income Statement

Income Statement RLJ Lodging Trust’s income picture shows a clear recovery story from the severe hit during the pandemic to a more stable, profitable business today. Revenue has grown steadily as travel and hotel demand returned, and operating profits have improved along with it. Margins are healthier than they were a few years ago, showing better cost control and stronger pricing power. That said, bottom-line earnings remain moderate rather than spectacular, which is typical for a hotel REIT that operates in a cyclical, capital-intensive industry. Overall, the income statement suggests a business that has largely healed from the crisis years and is now in a “steady grind” phase rather than a rapid growth phase, with sensitivity to broader travel and economic conditions still a key risk.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid for a lodging REIT. Total assets have inched down from their peak, reflecting some portfolio pruning and depreciation, while debt levels have been kept broadly in check rather than aggressively expanded. Equity has held relatively stable, which points to no major balance sheet distress in recent years. Cash on hand is lower than it was in the immediate post-pandemic period, but the company appears to be relying more on ongoing cash generation than on holding a large cash cushion. The overall picture is of a company that is not overextended financially, but still carries meaningful leverage as is typical in real estate, making interest rates and refinancing conditions important watchpoints.

Cash Flow

Cash Flow Cash flow has moved from stress to strength. Operating cash flow has rebounded from the weak pandemic period to solidly positive levels, supported by higher occupancy and room rates. After necessary property spending, free cash flow has turned consistently positive, indicating that the portfolio is now throwing off cash rather than consuming it. Capital spending has been steady but not excessive, suggesting a balance between maintaining and upgrading hotels and preserving cash. This healthier cash profile gives RLJ more flexibility to service debt, fund renovations, and support distributions, but it still depends heavily on sustained travel demand and stable economic conditions.

Competitive Edge

Competitive Edge RLJ’s competitive position rests more on its portfolio quality and branding than on sheer scale. It focuses on premium-branded hotels under major flags like Marriott, Hilton, and Hyatt, which gives it access to powerful reservation systems and loyalty programs that help drive occupancy. Many of its properties are in dense, high-barrier urban markets where it is harder and more expensive for new competitors to build, providing some protection on pricing and utilization. Management has a track record of buying, renovating, and repositioning assets to higher-value segments, which can create incremental returns. On the flip side, the company still operates in a highly cyclical and competitive sector, facing pressure from other hotel owners, new supply in certain markets, and alternatives like short-term rentals, all of which can weigh on rates and occupancy during downturns.

Innovation and R&D

Innovation and R&D As a hotel REIT, RLJ does not invest in research and development in the traditional sense, but it does innovate through how it manages and upgrades its properties. Its strategy centers on “embedded value creation”: acquiring hotels with untapped potential, renovating them, and often rebranding into higher-end “lifestyle” concepts under big chains such as Hilton’s Curio and Tapestry collections. These repositionings aim to turn standard hotels into more distinctive, experience-driven properties that can charge better rates and appeal to upscale travelers. RLJ also emphasizes disciplined capital recycling—selling non-core assets to fund higher-opportunity projects—which is a more financial and strategic form of innovation. Any incremental use of technology tends to come through its brand partners, rather than RLJ building tech in-house, so its edge is more about asset selection, branding, and execution than about proprietary technology.

Summary

Overall, RLJ Lodging Trust appears to be a recovered and now stable hotel REIT that has transitioned from survival mode during the pandemic to a more normal operating environment. Its earnings and cash flows have improved materially, the balance sheet is reasonably sound for the sector, and the company has resumed generating surplus cash after property investments. The core strategy—owning and upgrading well-located, branded hotels and selectively repositioning them into higher-value lifestyle concepts—gives RLJ a clear playbook for creating value, though it requires ongoing capital spending and careful execution. Key risks remain tied to the broader economy, travel demand, interest rates, and the inherently cyclical nature of lodging. The company’s future performance will likely depend on how well it continues to manage its portfolio, control costs, and navigate shifts in both business and leisure travel patterns.