RLJ Lodging Trust(RLJ) - 2025 Q3 - Quarterly Results

Financial Performance - Net loss attributable to common shareholders was $3.8 million, resulting in a net loss per share of $0.07[4] - Adjusted FFO per diluted common share was $0.27, a decrease of 32.5% compared to the prior year[5] - Total revenues for the third quarter were $330.0 million, down 4.5% year-over-year[4] - Adjusted EBITDA for the quarter was $72.6 million, reflecting a 21.0% decline from the previous year[5] - For the three months ended September 30, 2025, total revenues were $330,045,000, a decrease of 4.0% compared to $345,744,000 for the same period in 2024[36] - Net loss attributable to common shareholders for the three months ended September 30, 2025, was $10,015,000, compared to a net income of $14,323,000 in 2024[36] - Funds from Operations (FFO) attributable to common shareholders for the three months ended September 30, 2025, was $37,245,000, a decrease from $54,689,000 in 2024[38] - Adjusted FFO per common share for the nine months ended September 30, 2025, was $1.07, compared to $1.24 in 2024[38] - EBITDA for the nine months ended September 30, 2025, was $242.927 million, down from $268.763 million in 2024, reflecting a decrease of approximately 9.6%[42] - Adjusted EBITDA for the nine months ended September 30, 2025, was $254.185 million, compared to $280.494 million in 2024, indicating a decline of approximately 9.4%[42] Revenue and Occupancy - Comparable RevPAR decreased by 5.1% to $138.51, with a comparable occupancy rate of 73.0%, down 3.1%[5] - The updated full-year outlook projects comparable RevPAR growth between -2.6% to -1.9%[12] - The company's total revenue for the three months ended September 30, 2025, was $330.045 million, a decrease of 4.5% from $345.744 million in 2024[46] - Comparable Hotel EBITDA margin for the three months ended September 30, 2025, was 24.5%, down from 29.3% in 2024[46] Liquidity and Debt - The company has approximately $1.0 billion in total liquidity, including $375 million in unrestricted cash[9] - The company has a total consolidated debt of $2.231 billion as of September 30, 2025, with a weighted average interest rate of 4.66%[50] - Cash and cash equivalents as of September 30, 2025, were $374,827,000, down from $409,809,000 at the end of 2024[33] Capital Expenditures and Future Projections - Capital expenditures related to renovations are expected to be between $80 million and $100 million[15] - The anticipated range for Adjusted EBITDA for FY 2025 is $324.0 million to $332.0 million[12] - The company expects full-year 2025 EBITDA to be in the range of $308.8 million to $316.8 million[47] - Funds from Operations (FFO) for the year ended December 31, 2025, is projected to be between $182.5 million and $189.5 million[48] Asset Management - Total assets as of September 30, 2025, were $4,793,155,000, a decrease from $4,883,879,000 as of December 31, 2024[33] - Total liabilities as of September 30, 2025, were $2,585,106,000, slightly down from $2,585,602,000 at the end of 2024[33] - The company sold three hotels: Residence Inn Merrillville in May 2024, Fairfield Inn & Suites Denver Cherry Creek in September 2024, and Courtyard Atlanta Buckhead in March 2025[31] - The company reported a loss on the sale of hotel properties of $802,000 for the nine months ended September 30, 2025[42] Shareholder Actions - The company repurchased 0.2 million shares for approximately $1.3 million during the third quarter[8] - For the three months ended September 30, 2025, the company reported a net loss of $3.798 million compared to a net income of $20.643 million for the same period in 2024[42]