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RLJ Lodging Trust (RLJ) investor relations material
RLJ Lodging Trust Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Second quarter results exceeded expectations in some areas, but overall saw declines in RevPAR, revenue, and net income due to renovations and market-specific challenges.
Portfolio included 94–95 hotels with about 21,200 rooms as of June 30, 2025, focusing on premium-branded, high-margin properties.
Share repurchases were prioritized, with 3.2–3.3 million shares repurchased for $28 million YTD and a new $250M program approved.
Major renovations and conversions advanced, with assets expected to ramp up in Q4.
Management highlighted cost controls, portfolio resiliency, and disciplined capital allocation.
Financial highlights
Q2 2025 total revenue was $363.1M, down 1.7% year-over-year; net income attributable to common shareholders was $22.2M–$28.6M.
Q2 2025 comparable hotel EBITDA was $113.0M–$113.4M, with margins at 31.1%, down 90 basis points.
Q2 2025 adjusted EBITDA was $104.0M, and adjusted FFO per diluted share was $0.48, both down year-over-year.
Q2 2025 occupancy was 75.5%, ADR was $205.03–$205.27, and RevPAR was $154.90–$155.08, all declining year-over-year.
Non-room revenues and food & beverage profit rose, despite lower occupancy.
Outlook and guidance
FY 2025 guidance: comparable RevPAR growth of -1.0% to +1.0%, comparable hotel EBITDA of $365.5M–$395.5M, adjusted EBITDA of $332.5M–$362.5M, and adjusted FFO per diluted share of $1.38–$1.58.
Management expects the low end of guidance, citing a softer Q3 due to holiday shifts, tough comps, and renovations.
Q4 outlook is more favorable, with tailwinds from easier comps and ramping renovated assets.
2026 and beyond expected to benefit from improving economic backdrop and constrained supply.
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