AI Earnings Predictions for RLJ Lodging Trust of Beneficial Interest $0.01 par value (RLJ)

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Document

Press Release

RLJ Lodging Trust Reports Third Quarter 2026 Results

Q3 RevPAR increased 9.7%

Adjusted FFO per diluted common share and unit of $0.34 increased 25.9%

Adjusted EBITDA of $85.2 million increased 17.3%

Increasing full-year outlook

Bethesda, MD, November 4, 2026 – RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today reported results for the three and nine months ended September 30, 2026.

Third Quarter Highlights

•Comparable RevPAR of $153.36, an increase of 9.7% over the prior year

•Comparable Hotel Revenue of $354.5 million, an increase of 9.1% over the prior year

•Net income of $4.6 million

•Comparable Hotel EBITDA of $93.9 million, an increase of 17.5% over the prior year

•Comparable Hotel EBITDA Margin of 26.5%, an increase of 190 basis points over the prior year

•Adjusted EBITDA of $85.2 million, an increase of 17.3% over the prior year

•Adjusted FFO per diluted common share and unit of $0.34, an increase of 25.9% over the prior year

“We delivered another strong quarter, with results that once again exceeded our expectations across all metrics. Operating fundamentals accelerated during the quarter, with business travel leading the way alongside sustained strength in leisure and group, which disproportionately benefited our urban markets. As a result, we achieved robust RevPAR growth of 9.7%, outpacing the industry, driven by increases in both demand and rate. The ramp of our conversions and renovations provided additional momentum, which contributed to continued growth in non-room revenues. This robust top-line growth, combined with our disciplined cost control efforts, allowed us to expand margins and grow Hotel EBITDA at nearly twice the pace of revenues,” commented Leslie D. Hale, President and Chief Executive Officer. “Given our third quarter outperformance, strong preliminary results for October, and our expectation that positive trends will carry into the remainder of the year, we are raising our full-year guidance. Overall, against a backdrop of muted supply, demand continues to be supported by a favorable macro backdrop, including healthy corporate earnings and elevated levels of business investment, and we believe our urban-centric portfolio is well positioned to capture these trends.”

The prefix “comparable” as defined by the Company, denotes operating results which include results for periods prior to its ownership and excludes sold hotels. Explanations of EBITDA, EBITDAre, Adjusted EBITDA, Hotel EBITDA, Hotel EBITDA Margin, FFO, and Adjusted FFO, as well as reconciliations of those measures to net income or loss, if applicable, are included within this release.

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Financial and Operating Highlights

($ in thousands, except ADR, RevPAR, Change, and per share amounts)

(unaudited)

For the three months ended September 30,For the nine months ended September 30,

20262025Change20262025Change

Operational Overview: (1)

Comparable ADR$203.35$191.166.4%$210.32$201.294.5%

Comparable Occupancy75.4%73.1%3.1%74.4%72.6%2.4%

Comparable RevPAR$153.36$139.829.7%$156.51$146.217.0%

Financial Overview:

Total Revenue$354,476$330,0457.4%$1,077,441$1,021,2675.5%

Comparable Hotel Revenue$354,470$324,9859.1%$1,075,076$1,004,0437.1%

Net income (loss)$4,576($3,798)220.5%$35,555$28,00527.0%

Comparable Hotel EBITDA$93,859$79,88017.5%$303,039$275,20710.1%

Comparable Hotel EBITDA Margin26.5%24.6%190 bps28.2%27.4%80 bps

Adjusted EBITDA$85,150$72,58317.3%$276,415$254,1858.7%

Adjusted FFO$51,994$41,10326.5%$180,040$160,68412.0%

Adjusted FFO Per Diluted Common Share and Unit$0.34$0.2725.9%$1.19$1.0711.2%

Note:

(1) Comparable statistics reflect the Company's 91 hotel portfolio owned as of September 30, 2026.

Operational Update

Comparable RevPAR increased by 9.7% for the three months ended September 30, 2026, driven by ADR growth of 6.4% and a 230 basis point increase in occupancy. Non-room revenues increased by 6.5%, aided by strong growth in corporate transient and group demand, and reflecting the continued success of the Company’s return-on-investment initiatives. Robust revenue growth and disciplined expense management drove year-over-year Comparable Hotel EBITDA growth of 17.5% and Comparable Hotel EBITDA margin expansion of 190 basis points, contributing to Adjusted EBITDA growth of 17.3% over the prior year period.

Midway Portfolio Disposition

In October 2026, the Company completed the sale of seven hotel properties located near the Chicago Midway Airport for $110.0 million, which represents a multiple of 13.8x forecasted 2026 Hotel EBITDA, or 16.1x including required capital expenditures. As part of the transaction, RLJ provided $20.0 million of seller financing.

Balance Sheet

As of September 30, 2026, the Company had over $1.0 billion of total liquidity, comprised of approximately $448.3 million of unrestricted cash and $600.0 million available under its revolving credit facility (the "Revolver"), as well as $2.2 billi