RLJ Lodging Trust reports Q2 adjusted FFO 56c, consensus 53c

Reports Q2 revenue $357.0M, consensus $355.62M. Portfolio Comparable RevPAR was $152.89; an increase of 4.5% from last year. “We were pleased with our second quarter results as our portfolio once again achieved RevPAR growth ahead of the industry. Our results continued to benefit from our urban-centric portfolio which saw ongoing improvement in corporate demand, strength in urban leisure travel, continued strong production in group, and rising inbound international demand, all of which provided the momentum that drove our RevPAR growth,” commented Leslie Hale, CEO. “We are successfully executing on our strategy to unlock significant incremental value embedded within our portfolio with our Nashville hotel joining the Tapestry Collection by Hilton, in addition to the ramping of our recently completed conversions. We are also demonstrating our ability to execute on the optionality of our strong balance sheet by repurchasing our shares, increasing our quarterly dividend by 25% and deploying capital towards our current year conversions.”