RLJ Lodging Trust Q2 2024 10-Q Filed

TL;DR

**RLJ Lodging Trust Q2 10-Q is in! Check occupancy & F&B revenue for hotel performance.**

AI Summary

RLJ Lodging Trust filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational data for the second quarter of 2024. Key metrics such as occupancy rates and revenue from food and beverage services are reported, providing insight into the company's hotel operations.

Why It Matters

This filing provides investors with crucial financial and operational data for RLJ Lodging Trust, impacting investment decisions and market sentiment for the real estate investment trust.

Risk Assessment

Risk Level: medium — As a real estate investment trust, RLJ Lodging Trust is subject to market fluctuations, interest rate changes, and operational risks inherent in the hospitality industry.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting fiscal quarter.)
• 20240802 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• RLJ Lodging Trust (company) — Filer of the 10-Q
• 20240630 (date) — Period of report
• 20240802 (date) — Filing date
• MD (location) — State of incorporation and business address
• 301-280-7777 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.01 — hares of beneficial interest, par value $0.01 per share RLJ New York Stock Exchange
• $1.95 — per share RLJ New York Stock Exchange $1.95 Series A Cumulative Convertible Preferr

Filing Documents

• rlj-20240630.htm (10-Q) — 1891KB
• exhibit311-6302024.htm (EX-31.1) — 14KB
• exhibit312-6302024.htm (EX-31.2) — 14KB
• exhibit321-6302024.htm (EX-32.1) — 9KB
• 0001511337-24-000025.txt ( ) — 8784KB
• rlj-20240630.xsd (EX-101.SCH) — 60KB
• rlj-20240630_cal.xml (EX-101.CAL) — 63KB
• rlj-20240630_def.xml (EX-101.DEF) — 316KB
• rlj-20240630_lab.xml (EX-101.LAB) — 702KB
• rlj-20240630_pre.xml (EX-101.PRE) — 484KB
• rlj-20240630_htm.xml (XML) — 1463KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Financial Statements (unaudited) Balance Sheets as of J une 3 0 , 2024 and December 31, 2023 1 2 4 8 Notes to the Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

Signatures

Signatures 39 ii Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RLJ Lodging Trust Consolidated Balance Sheets (Amounts in thousands, except share and per share data) (unaudited) June 30, 2024 December 31, 2023 Assets Investment in hotel properties, net $ 4,274,669 $ 4,136,216 Investment in unconsolidated joint ventures 7,386 7,398 Cash and cash equivalents 371,133 516,675 Restricted cash reserves 36,081 38,652 Hotel and other receivables, net of allowance of $ 369 and $ 265 , respectively 30,916 26,163 Lease right-of-use assets 130,875 136,140 Prepaid expense and other assets 66,967 58,051 Total assets $ 4,918,027 $ 4,919,295 Liabilities and Equity Debt, net $ 2,222,642 $ 2,220,778 Accounts payable and other liabilities 149,682 147,819 Advance deposits and deferred revenue 33,475 32,281 Lease liabilities 119,902 122,588 Accrued interest 21,934 22,539 Distributions payable 22,621 22,500 Total liabilities 2,570,256 2,568,505 Commitments and Contingencies (Note 11) Equity Shareholders' equity: Preferred shares of beneficial interest, $ 0.01 par value, 50,000,000 shares authorized Series A Cumulative Convertible Preferred Shares, $ 0.01 par value, 12,950,000 shares authorized; 12,879,475 shares issued and outstanding, liquidation value of $ 328,266 , at June 30, 2024 and December 31, 2023 366,936 366,936 Common shares of beneficial interest, $ 0.01 par value, 450,000,000 shares authorized; 155,240,677 and 155,297,829 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 1,552 1,553 Additional paid-in capital 3,000,394 3,000,894 Distributions in excess of net earnings ( 1,057,061 ) ( 1,055,183 ) Accumulated other comprehensive income 22,171 22,662 Total shareholders' equity 2,333,992 2,336,862 Noncontrolling interests: Noncontrolling interest in the Operating Partnership 6,318 6,294 Noncontrolling interest in consolidated joint ventures 7,461 7,634 Total noncontrolling interests 13,779 13,928 Total equity 2,347,771 2,350,790 Tot

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View this 10-Q filing on SEC EDGAR