RLJ Lodging Trust (NYSE: RLJ) today announced that it is under contract to acquire the fee simple interest in the newly-built, 186-room Hampton Inn & Suites Atlanta Midtown for a purchase price of $58.0 million in cash. Upon stabilization, the Company expects the Hotel to generate an estimated 8.0% to 8.5% NOI yield.
RLJ Lodging Trust (NYSE: RLJ) is providing additional details regarding its embedded value creation opportunities. By executing on its high-value conversions, revenue enhancements and margin expansion initiatives, the Company expects to unlock significant value.
Total portfolio generated positive Hotel EBITDA each month during the first quarter - Monthly cash burn below low end of guidance - Open hotel occupancy of 46.4%
Full Year Highlights - Total revenue of $473.1 million - Pro forma RevPAR decrease of (66.8%) - Net loss of ($408.8) million
RLJ Lodging Trust (NYSE: RLJ) today announced that it has amended its $1.8 billion Senior Unsecured Credit Facilities comprising a $600 million revolving credit facility and $1,175 million in term loans.
Ample liquidity with approximately $1.2 billion of cash on hand - Operations currently suspended at 57 hotels
RLJ Lodging Trust Announces CEO Succession
Fourth quarter Pro forma RevPAR increased 4.0% - Sold Fairmont Copley Plaza Boston for $170 million - Completed transformative merger with FelCor Lodging Trust
RLJ Lodging Trust (NYSE: RLJ) last week announced that the Company has sold the 383-room Fairmont Copley Plaza in Boston, MA for $170.0 million or approximately $444,000 per key.
Pro forma RevPAR decreased 1.9%; adjusting for the disruption from Hurricanes Harvey and Irma, RevPAR would have decreased 1.1%