RLJ Lodging Trust

RLJ Lodging Trust

RLJ Lodging Trust

Overview
Date Founded

2011

Headquarters

3 Bethesda Metro Center, Suite 1000, Bethesda, MD, 20814, USA

Type of Company

Public

Employees (Worldwide)

84

Industries

Trusts & Funds
Hotels, Resorts, and Cruiselines
Real Estate Investment Trusts

Company Description

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. The Company's portfolio consists of 145 hotels in 21 states and the District of Columbia, with a total of more than 21,600 rooms. Our hotels are geographically diverse and concentrated in major urban areas and dense suburban markets that provide multiple demand generators from business, leisure and other travelers. At the same time, as a result of high construction costs and the density of these urban and suburban markets, these locales provide significant barriers to entry. We believe that our investment strategy and the current market environment present attractive opportunities for us to acquire additional hotels with significant upside potential. The company is a self-advised and self-administered Maryland real estate investment trust and is traded on the New York Stock Exchange under the stock symbol "RLJ". Our strategy is to invest in focused service and compact full-service hotels, which typically generate most of their revenue from room rentals, have limited food and beverage outlets and meeting space, and require fewer employees than larger hotels. We believe that such premium-branded, focused-service hotels have the potential to provide attractive returns relative to other hotel types due to their ability to generate revenue per room comparable to that of full-service hotels, while providing higher profit margins as a result of a more efficient operating model and less volatile cash flows. Our hotels operate under well-recognized global brands, including Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, Homewood Suites by Hilton, Hyatt Place and Embassy Suites and we maintain strong relationships with these leading franchisors. The company became publicly-traded in May 2011 and was formed to succeed to the hotel investment and ownership platform of RLJ Development and its two remaining lodging-focused private equity funds, RLJ Lodging Fund II, LP and RLJ Real Estate Fund III, LP. RLJ Development was co-founded in 2000 by Robert L. Johnson, our Executive Chairman, and Thomas J. Baltimore, Jr., our President and Chief Executive Officer, and, over more than 10 years of operations, the company has developed significant expertise in acquiring and asset managing focused service and compact full-service hotels. Our experienced senior management team, which operated the company's predecessor, is comprised of seasoned professionals with extensive industry relationships and asset management experience that will allow us to continue to compete effectively for acquisition activities and generate strong internal growth. In addition, we plan to enhance the value of this platform by being open and transparent in our investor communications and following sound corporate governance practices

Contact Data
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Executives & Employees

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Co-Chief Investment Officer

Co-Chief Investment Officer

Senior Vice President & General Counsel

Senior Vice President & Chief Accounting Officer

Vice President & Controller

Executive Vice President, Asset Management

Senior Vice President, Administration/Corporate Secretary

Senior Vice President, Asset Management

Board of Directors

Founder & Chairman at RLJ Lodging Trust

President & Chief Executive Officer at RLJ Lodging Trust

Former Governor of Indiana

Executive Chairman at K12, Inc.

Chief Executive Officer at Banner Oak Capital Partners LP

Former President, Strategic Partnerships at American Express Co.

Founder at Apertor Hospitality LLC

Treasurer at Congressional Black Caucus Institute

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RLJ Lodging Trust
Owners & Shareholders
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PGGM favors equity investments in North American and Europe and in sectors including financial services, raw materials, services and information technology. Their fixed-income portfolios primarily focus on European government bonds, but they also invest in US bonds and investment-grade credits. Their investment process begins with asset allocation and risk budgeting using VAR and RVAR. They then allocate markets, determine the investment style and select either an internal or an external manager. As a socially responsible investor, the firm pays close attention to the corporate governance practices of the companies in which they invest and exercises their shareholder rights by voting at their general meetings.

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AEW Global provides real estate investment management services to investors worldwide. Currently, AEW Global manages over $46.6 billion of real estate assets and securities on behalf of many of the world's leading institutional and private investors. With over 500 employees operating from 13 offices in North America, Europe and Asia, AEW Global provides the local real estate resources necessary to execute our clients' investment objectives. AEW Global actively manages portfolios across the risk/return spectrum in both the listed and direct property markets. Our mission is to be our clients' most trusted and effective advisor.

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DePrince, Race & Zollo (DRZ) follows a value income methodology with all of its value-income strategies. This value income philosophy is based on a belief that undervalued stocks with an above-average dividend yield and the existence of an imminent fundamental catalyst provide the opportunity for increased total returns with reduced volatility. Investments are selected based on three criteria: (1) low long-term relative valuation, (2) above average dividend yield, and (3) the existence of an imminent fundamental catalyst. The firm offers the following investment strategies: US Large-Cap Value, US Small-Cap Value, US Micro-Cap Value, US Small/Mid-Cap Value, International Value, International Small-Cap Value, Global Value, Emerging Markets Value, and DRZ Long/Short. Client portfolios are actively managed and are generally invested in equities subject to the investment strategy, objective selected and any investment restrictions or guidelines imposed by the client.

Recent Transactions
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Buccini Pollin Group, Inc. purchases Sheraton Society Hill Hotel from RLJ Lodging Trust

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RockBridge Capital LLC purchases Embassy Suites Boston Marlborough Hotel from RLJ Lodging Trust

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Iconic Copley Plaza Hotel LLC purchases Fairmont Copley Plaza Boston from RLJ Lodging Trust

Insider Transactions
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Transaction Advisors
Underwriter

Advised onRLJ Lodging Trust issued USD Common Stock

Underwriter

Advised onRLJ Lodging Trust issued USD Common Stock

Underwriter

Advised onRLJ Lodging Trust issued USD Common Stock

Director

Advised onRLJ Lodging Trust issued Common Stock

Managing Director

Advised onRLJ Lodging Trust issued Common Stock

Underwriter

Advised onRLJ Lodging Trust issued Common Stock

Advisors & Consultants
Legal Advisor

Former Partner at Sidley Austin LLP

Key Stats and Financials As of 2019
Market Capitalization
$2.86B
Total Enterprise Value
$5.07B
Earnings Per Share
$0.93
Revenue
$1.36B
Net Profit
$189M
EBITDA
$501M
EBITDAMargin
28.41%
Total Debt
$2.2B
Total Equity
$3.5B
Enterprise Value Sales
2.87x
Enterprise Value EBITDAOperating
10.1x
TEVNet Income
26.81x
Debt TEV
0.43x
Three Year Compounded Annual Growth Rate Of Revenue
16.43%
Five Year Compounded Annual Growth Rate Of Revenue
12.51%
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