RLJ Lodging Trust Reports Q1 Growth and Strengthens Balance Sheet

Overview

• The company said first‑quarter RevPAR, a hotel metric that tracks revenue per available room, rose 4.8% to $149 and outpaced the industry by about one point, with occupancy at 70.8% and an average daily rate of $210.
• Non‑room revenue grew 8.2% and helped lift hotel EBITDA 7.2% to $89.9 million, with adjusted funds from operations at $0.33 per share.
• Management reported a 1.9% RevPAR dip in January, followed by gains of 6.1% in February and 8.9% in March, with early April tracking up about 4%.
• The company added $500 million of undrawn capacity and paid off $500 million of notes, leaving no debt due until 2029 and more than $950 million of liquidity.
• RLJ kept its 2026 outlook for comparable RevPAR growth of 1.5% to 3.5% and adjusted FFO of $1.29 to $1.45 per share, and it plans $80 million to $90 million of targeted renovations and brand conversions.