RLJ住房信托 2024年度报告

RLJ LODGING TRUST (“RLJ”)is a self-advised, publicly traded real estate investment trust that ownspremium-branded, rooms-oriented, high-margin, urban-centric hotels located within the heart of demandlocations. Our hotels are geographically diverse and concentrated in major urban markets that providemultiple demand generators from business, leisure and other travelers. The lodging industry once again demonstrated its resiliency in 2024 by achieving positiveRevPAR growth against a choppy backdrop, with urban markets outperforming. The stronggrowth in urban markets was led by the continued improvement in corporate travel, stronggroup demand from citywide events and small groups, as well as persistent urban leisuredemand driven by sports, concerts, and other special events. Relative to this backdrop, RLJdemonstrated its favorable positioning within the lodging industry, while executing on eachof its strategic objectives to position the Company for continued growth. During 2024, RLJ achieved RevPAR growth of 2.0%,which outpaced the industry while increasing marketshare. Our top-quartile growth relative to our peers onceagain illustrates the consistent and positive momentumin our urban-centric portfolio. Additionally, we furtherenhanced our growth profile with thoughtful capitalallocation, including increasing our mix of “Lifestyle”branded hotels by acquiring Hotel Teatro in Denverand adding another valuable conversion opportunitythrough our purchase of the fee-simple interest in theWyndham Boston Beacon Hill. With respect to internalgrowth, we completed three high-quality conversionsin Houston, New Orleans, and Pittsburgh. To date wehave completed six conversions, which collectivelydelivered robust RevPAR growth of 10% in 2024,exemplifying the embedded value we are unlocking.On the balance sheet front, we addressed all of our2025 debt maturities, accretively recycled dispositionproceeds into $22 million of share repurchases, andraised our quarterly dividend by 50%, reflecting ourcommitment to enhancing shareholder returns. minimizing our environmental impact and creatingmeaningful benefits for the communities we serve.We were also active in maintaining an open dialoguethrough frequent meetings with our shareholders. Looking ahead to 2025, we expect the momentum inlodging fundamentals to continue and expect urbanmarkets to once again outperform. Our portfolio willalso have tailwinds from our favorable footprint in keymarkets that are poised to benefit from a robust eventscalendar. Overall, the resiliency of our urban-centricportfolio, along with the ongoing execution of ourkey objectives, gives us confidence that RLJ is well-positioned for the year ahead. As we move beyond 2025, we remain optimistic aboutthe long-term outlook for lodging fundamentals giventhe secular shift of consumers prioritizing experiencessuch as travel and a favorable multi-year outlook forsupply. Against this backdrop, our high-quality portfolio,robust conversion pipeline, and strong balance sheetposition RLJ Lodging Trust to drive sustained growthand deliver value for our shareholders. I am proud ofour dedicated team whose hard work continues topropel our success. Together, we look forward toexecuting on our strategic priorities and capitalizingon the opportunities ahead. We achieved all of these key objectives whilecontinuing to reaffirm our corporate responsibilityand commitment to best-in-class governance. Ourcorporate responsibility and governance practicesare overseen by our dedicated Nominating andCorporate Governance Committee, which providesrigorous oversight and strategic direction. Oursustainability initiatives included implementation ofenergy efficiency improvements, reducing waste, andfostering community partnerships with the aim of Leslie D. HalePresident & CEO Robert L. JohnsonExecutive Chairman Maryland(State or Other Jurisdiction of Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerate