RLJ Lodging Trust(RLJ)2025-05-05 13:47Financial Performance - Comparable RevPAR increased by 1.6% to $141.23 compared to the prior year[4] - Total revenues for Q1 2025 were $328.1 million, reflecting a 1.1% increase from $324.4 million in Q1 2024[5] - Net income decreased by 33.2% to $3.2 million from $4.7 million in the same period last year[5] - Comparable Hotel EBITDA was $85.3 million, down 3.4% from $88.3 million in Q1 2024[5] - Adjusted EBITDA for Q1 2025 was $77.6 million, a decrease of 2.5% compared to $79.6 million in Q1 2024[5] - Funds from Operations (FFO) attributable to common shareholders for Q1 2025 was $41.7 million, down from $43.5 million in Q1 2024, a decrease of 4.1%[38] - Adjusted FFO for Q1 2025 was $46.9 million, compared to $51.9 million in Q1 2024, a decline of 9.6%[38] - Comparable Hotel EBITDA margin for Q1 2025 was 26.1%, down from 27.3% in Q1 2024[45] - The company reported a net loss attributable to common shareholders of $2.9 million for Q1 2025, compared to a loss of $1.3 million in Q1 2024[37] Revenue Outlook - The updated full-year 2025 outlook projects Comparable RevPAR growth between -1.0% to +1.0%[13] - The forecast for Comparable Hotel EBITDA is between $365.5 million to $395.5 million for FY 2025[13] - The company expects full-year 2025 EBITDA to range between $316.3 million and $346.3 million[46] - The projected Adjusted FFO per common share for full-year 2025 is estimated to be between $1.38 and $1.58[47] Liquidity and Debt - The company had approximately $847.5 million in total liquidity as of March 31, 2025[9] - Total assets as of March 31, 2025, were $4.8 billion, a slight decrease from $4.9 billion as of December 31, 2024[34] - Total liabilities decreased to $2.57 billion as of March 31, 2025, from $2.59 billion as of December 31, 2024[34] - Total mortgage debt amounts to $206 million with a weighted average interest rate of 4.74%[49] - Corporate debt totals $2.025 billion with a weighted average interest rate of 4.52%[49] - The company has a $500 million borrowing capacity on the Revolver, with an unused commitment fee of 0.25% annually[51] - In April 2025, the company repaid the $100 million outstanding balance on the Revolver using proceeds from upsizing the $200 million term loan to $300 million[51] - The $200 million term loan maturing in 2026 was refinanced to $300 million, extending the maturity to April 2030[52] - The weighted average interest rate for total debt is 4.54%[49] - The company has fixed-rate senior notes due 2026 and 2029, each totaling $500 million with interest rates of 3.75% and 4.00% respectively[49] - The floating interest rates are hedged with interest rate swaps[50] - The company has a total of $1.5 billion in term loans maturing in 2026 and 2027[49] - The company has two one-year extension options for the refinanced term loan, subject to certain conditions[52] Shareholder Actions - The company repurchased 2.7 million shares for approximately $24.3 million year-to-date[4] - The company sold a non-core hotel for $24.3 million, achieving an 18.0x multiple based on projected 2025 Hotel EBITDA[7]