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RLJ Lodging Trust (RLJ) investor relations material
RLJ Lodging Trust Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Operates 94–95 hotels with approximately 20,982–21,200 rooms as of September 30, 2025, focused on premium-branded, high-margin, rooms-oriented hotels in urban markets.
Third quarter results aligned with expectations, reflecting portfolio resiliency, effective cost controls, and out-of-room revenue growth of 1.3% year-over-year, despite a 5.1% RevPAR decline and lower occupancy.
Major renovations in Waikiki, Key West, and Fort Lauderdale are substantially complete, with conversions in Nashville and Pittsburgh progressing; strategic investments continue to position the portfolio for future value creation.
Sold one hotel for $24.3 million, refinanced a term loan to $300 million, repaid $100 million on the revolver, and approved a new $250 million share repurchase program, repurchasing 3.3 million shares for $28.6 million.
Government shutdown in October led to a 2% RevPAR decline for the month, impacting Q4 outlook and delaying ramp-up of renovated assets.
Financial highlights
Q3 2025 total revenue was $330.0 million, down 4.5% year-over-year; nine-month revenue was $1.02 billion, down 1.7%.
Q3 2025 comparable hotel occupancy was 73.0%, ADR was $189.74–$190, and RevPAR was $138.29–$139, down 5.1% year-over-year.
Q3 2025 Adjusted EBITDA was $72.6 million (down 21% year-over-year); nine-month Adjusted EBITDA was $254.2 million.
Q3 2025 net loss attributable to common shareholders was $3.8–$10.0 million; nine-month net income was $9.2–$28.0 million.
Q3 2025 Adjusted FFO per diluted share was $0.27 (down 32.5% year-over-year); nine-month Adjusted FFO was $160.7 million.
Outlook and guidance
Full-year 2025 guidance: comparable RevPAR growth between -2.6% and -1.9%; comparable hotel EBITDA $357.5M–$365.5M; adjusted EBITDA $324M–$332M; adjusted FFO per diluted share $1.31–$1.37; capital expenditures expected at $80M–$100M.
Guidance assumes no further acquisitions, dispositions, or refinancings; capital allocation remains focused on portfolio quality and prudent structure.
2026 outlook is positive, with expected benefits from major events (World Cup, Super Bowl, 250th U.S. anniversary) and continued urban market recovery.
Forward-looking statements caution that actual results may differ materially due to risks and uncertainties.
When do renovation impacts on RevPAR reverse?
Detail ROI initiatives driving out-of-room growth.
Strategy for 2026 debt maturities?
What drives Wyndham Boston's 40% EBITDA upside?
How does the shutdown affect Q4 RevPAR guidance?
San Francisco's AI growth impact on broader portfolio?
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Next RLJ Lodging Trust earnings date
Q4 202525 Feb, 2026
Next RLJ Lodging Trust earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
RLJ Lodging Trust is a real estate investment trust (REIT) specializing in the ownership of premium-branded, focused-service, and compact full-service hotels. The company's portfolio includes properties primarily affiliated with well-recognized brands such as Marriott, Hilton, and Hyatt. RLJ Lodging Trust focuses on high-demand urban, airport, and suburban markets, catering to both business and leisure travelers. Its revenue is generated through hotel operations managed by third-party operators. The company is headquartered in Bethesda, Maryland, and its shares are listed on the NYSE.
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