RLJ Lodging Trust

What RLJ Lodging Trust does

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust (NYSE: RLJ) that owns 92 premium-branded, rooms-oriented, focused-service and compact full-service hotels with approximately 21,000 rooms across 23 U.S. states and Washington D.C. The company was formed to succeed the hotel investment platform of RLJ Development, co-founded by Robert L. Johnson in 2000, and completed its IPO in May 2011. Properties are concentrated in major urban markets with multiple demand generators and high barriers to new supply, and operate under franchise agreements with Marriott International, Hilton Worldwide, Hyatt, IHG, Wyndham, and Choice Hotels. Over 80% of the portfolio is affiliated with Hilton and Marriott brands, embedding assets in Marriott Bonvoy, Hilton Honors, and other global loyalty ecosystems.

The underlying product is the real estate itself: RLJ acquires, renovates, rebrands, and owns hotel properties while third-party management companies operate them under brand franchises. The company does not operate a proprietary technology platform; its competitive identity is grounded in real estate selection, capital allocation, and franchise relationships. Recent operational emphasis has shifted toward lifestyle and boutique brand conversions (e.g., Autograph Collection, Tapestry Collection, Margaritaville) and high-barrier urban markets, exemplified by the June 2026 openings of The Atterbury in Pittsburgh and The Untitled Nashville Hotel, plus the August 2026 Margaritaville Key West conversion.

RLJ generates revenue almost entirely from hotel room rentals and ancillary food, beverage, and meeting space at select properties, with pricing set dynamically at the property level by brand systems. The company monetizes its real estate through three primary levers: operating performance (RevPAR, occupancy, ADR), capital recycling (acquisitions funded by dispositions), and capital structure optimization, demonstrated by the February 2026 refinancing that extended the $600 million revolver to 2031, upsized a term loan to approximately $570 million, and added a $150 million delayed-draw term loan maturing in 2033. The trust also authorized a $250 million share repurchase program in 2026 alongside a 5.3% dividend yield, targeting both income and total return for shareholders.

Name

RLJ Lodging Trust

Legal name

RLJ Lodging Trust

Website

https://rljlodgingtrust.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

RLJ Lodging Trust is a self-advised publicly traded REIT that owns 92 premium-branded focused-service and compact full-service hotels with approximately 21,000 rooms across 23 U.S. states and Washington D.C., operating under Marriott, Hilton, Hyatt, IHG, Wyndham, and Choice franchises in major urban markets.

Ownership category

akta.pro rank

Product category

Hotel Real Estate Investment Trust (Lodging REIT)

NAICS

Hotels (except Casino Hotels) and Motels (72111), Hotels (except Casino Hotels) and Motels (721110), Traveler Accommodation (7211)

SIC

Hotels & Motels (7011), Real Estate Investment Trusts (6798), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Business & Corporate Full-Service Hotels (THAGAAAE)

Keywords

• Hotel real estate investment trust
• Lodging REIT
• Focused-service hotels
• Hospitality real estate
• Hotel property investment

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Marketing or Sales

Revenue model

1. Hotel room rentals and related services: RLJ Lodging Trust generates revenue primarily from room rentals at its premium-branded focused-service and compact full-service hotels. The company also earns ancillary revenue from food and beverage outlets and meeting space at select properties. Revenue is generated directly from guests booking through brand loyalty programs (Marriott Bonvoy, Hilton Honors, etc.) and third-party channels.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

RLJ Lodging Trust owns a portfolio of 92 premium-branded, rooms-oriented, focused-service and compact full-service hotels with approximately 21,000 rooms across 23 U.S. states and Washington D.C. Properties are operated by third-party management companies under franchise agreements with major hotel brands including Marriott, Hilton, Hyatt, IHG, Wyndham, and Choice. Revenue is generated from room rentals and ancillary services such as food and beverage and meeting space at select properties.

Product overview

RLJ Lodging Trust is a self-advised, publicly traded REIT that owns and operates a diversified portfolio of 92 premium-branded, rooms-oriented, high-margin, focused-service and compact full-service hotels with approximately 21,000 rooms across 23 U.S. states and Washington D.C. The portfolio operates under major franchise affiliations including Marriott International (Courtyard, Residence Inn, Moxy, Fairfield Inn, Springhill Suites, Marriott Hotels, Renaissance, AC Hotels, Autograph Collection), Hilton (DoubleTree, Embassy Suites, Hilton Garden Inn, Homewood Suites, Hampton Inn, Curio Collection, Tapestry Collection), Hyatt (Hyatt Place, Hyatt House, Hyatt Centric), IHG, Choice, and Wyndham. RLJ also recently launched new hotel properties including The Atterbury in Pittsburgh (June 2026) and conversions to lifestyle brands like Margaritaville in Key West (2026).

Differentiator

Problem solved

Functional benefit

Products and services

• RLJ Lodging Trust Hotel Portfolio A portfolio of 92 premium-branded, rooms-oriented, high-margin, focused-service and compact full-service hotels with approximately 21,000 rooms, located in major urban markets across 23 U.S. states and Washington D.C. Properties operate under major franchise brands including Marriott, Hilton, Hyatt, IHG, Choice, and Wyndham, and are managed by third-party hotel management companies. The portfolio caters to business, leisure, and group/meeting travelers.
• The Atterbury, Autograph Collection A 300-room hotel in downtown Pittsburgh operating under Marriott's Autograph Collection brand, following a multi-million-dollar restoration of the historic Fulton Building. Targeted at business and leisure travelers seeking distinctive design-forward accommodations in the Pittsburgh urban market.
• The Untitled Nashville Hotel at Bankers Alley, Tapestry Collection by Hilton A hotel in Nashville's historic downtown under Hilton's Tapestry Collection upscale boutique brand, targeting travelers interested in Nashville's cultural offerings including art, music, and cuisine. Opened in June 2026 following a multi-million-dollar renovation.
• Margaritaville Key West Hotel A hotel in Key West converted to the Margaritaville lifestyle brand as part of RLJ's capital allocation strategy focused on lifestyle brand conversions. Targeted at leisure travelers visiting Key West seeking experiential lifestyle accommodations.

Quantifiable outcome

• RevPAR growth of 6.8% year-over-year to $167.15 in Q2 2026
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates approximately 40+ hotels under Marriott brand affiliations including Courtyard, Residence Inn, AC Hotels, Moxy, Renaissance, Fairfield, and Springhill Suites. Properties participate in Marriott Bonvoy loyalty program. The company maintains strong relationships with Marriott for franchise licensing and brand standards compliance.
• Hilton WorldwidecoreChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates approximately 35+ hotels under Hilton brand affiliations including Embassy Suites, Hilton Garden Inn, Homewood Suites, DoubleTree, Hampton Inn, and Curio Collection. Properties participate in Hilton Honors loyalty program. Strategic conversions to Hilton's Tapestry Collection have been part of recent asset upgrade strategy.
• Hyatt Hotels CorporationcoreChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates hotels under Hyatt brand affiliations including Hyatt Place, Hyatt House, Hyatt Centric, and standard Hyatt. Properties participate in World of Hyatt loyalty program, targeting business and leisure travelers in urban markets.
• IHG (InterContinental Hotels Group)minorChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates select hotels under IHG brand affiliations including Holiday Inn Express, with properties participating in IHG Rewards Club loyalty program.
• Wyndham Hotels & ResortsminorChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates select hotels under Wyndham brand affiliations including Wyndham Boston Beacon Hill, Wyndham New Orleans French Quarter, and Wyndham Philadelphia Historic District, participating in Wyndham Rewards program.
• Choice Hotels InternationalminorChannel Partner/ Reseller/ DistributorRLJ Lodging Trust operates select hotels under Choice brand affiliations including Sleep Inn, participating in Choice Privileges loyalty program.

Scale indicators8 records

Recent moves15 records

Expansion highlights4 records

Direct peers

• Host Hotels & Resorts: Largest publicly traded US lodging REIT (NYSE: HST), focused on luxury and upper-upscale urban and resort properties operated under Marriott, Hilton, and Hyatt flags. Directly comparable to RLJ in business model, urban concentration, and brand affiliations.
• Apple Hospitality REIT: NYSE-listed lodging REIT (APLE) with a focused-service and upscale portfolio operated under Marriott and Hilton brands. Highly comparable to RLJ in brand mix, room count, and premium-branded rooms-oriented strategy; prior employer of RLJ's CDO Craig Amos.
• Park Hotels & Resorts: NYSE-listed lodging REIT (PK) spun off from Hilton, owning upper-upscale and luxury hotels in urban and resort markets. Comparable to RLJ in urban concentration and brand-affiliated operating model, though with a more upscale mix.
• Pebblebrook Hotel Trust: NYSE-listed lodging REIT (PEB) focused on urban and resort upper-upscale hotels in major markets. Directly comparable to RLJ in business model, urban portfolio strategy, and franchise-driven operations.
• Sunstone Hotel Investors: NYSE-listed lodging REIT (SHO) owning long-term and variable-stake interests in upper-upscale and luxury urban hotels operated under Marriott, Hilton, Hyatt, and IHG flags. Comparable to RLJ in upscale urban focus and brand portfolio breadth.
• DiamondRock Hospitality: NYSE-listed lodging REIT (DRH) owning premium-branded, focused-service, and full-service hotels in gateway markets. Closely comparable to RLJ in premium urban portfolio construction and Marriott/Hilton brand reliance.
• Xenia Hotels & Resorts: NYSE-listed lodging REIT (XHR) focused on premium-branded upper-upscale and luxury hotels in key urban markets. Comparable to RLJ in portfolio composition, brand affiliations, and group/meeting demand exposure.
• Hersha Hospitality Trust: Lodging REIT (HT) with a portfolio of premium-branded hotels concentrated in urban gateway markets. Comparable to RLJ in business model, brand mix, and urban business/leisure traveler focus.

Broad incumbents

• Marriott International: World's largest hotel franchisor (NASDAQ: MAR) and RLJ's largest brand partner. While not a direct REIT competitor, it sets franchise economics, loyalty distribution, and brand standards that materially shape RLJ's revenue and cost structure.
• Hilton Worldwide: Global hotel franchisor (NYSE: HLT) and RLJ's second-largest brand partner. As a broad incumbent in the lodging value chain, Hilton's brand standards and Honors program directly drive RLJ's distribution and RevPAR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/rlj-lodging-trust

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RLJ Lodging Trust