RLJ Lodging Trust (RLJ): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do investimento imobiliário em hospitalidade, o RLJ Lodging Trust surge como uma potência estratégica, transformando os investimentos em propriedades do hotel em um sofisticado ecossistema financeiro. Ao navegar magistralmente paisagens complexas de mercado, o RLJ oferece uma proposta de valor única que combina gerenciamento inovador de ativos, parcerias estratégicas e desempenho financeiro robusto. Este modelo de negócios exploração de tela revela os intrincados mecanismos que permitem que o RLJ gere consistentemente retornos atraentes para os investidores, mantendo uma abordagem flexível e com visão de futuro no setor de hospitalidade em constante evolução.

RLJ Lodging Trust (RLJ) - Modelo de negócios: Parcerias -chave

Empresas de gestão de hotéis

A RLJ Lodging Trust faz parceria com as seguintes empresas de administração de hotéis:

Empresa de gestão	Número de hotéis gerenciados	Status da parceria
Marriott International	37 hotéis	Parceria ativa de longo prazo
Hilton em todo o mundo	22 hotéis	Contrato de gerenciamento ativo
Hyatt Hotels Corporation	15 hotéis	Colaboração em andamento

Empresas de investimento imobiliário e parceiros de capital

Detalhes da parceria de capital -chave:

• Investimentos imobiliários de Goldman Sachs: compromisso de US $ 250 milhões
• Blackstone Real Estate Partners: investimento de joint venture de US $ 175 milhões
• JPMorgan Chase Real Estate Divisão: Linha de crédito de US $ 200 milhões

Investidores institucionais e grupos de private equity

Investidor	Valor do investimento	Porcentagem de propriedade
Grupo Vanguard	US $ 85,4 milhões	12.3%
Advisores de fundos dimensionais	US $ 62,7 milhões	9.1%
BlackRock	US $ 53,2 milhões	7.6%

Tecnologia de viagem e plataformas de distribuição

As parcerias de tecnologia estratégica incluem:

• Grupo Expedia: Contrato de Distribuição Cobrindo 59 Hotéis
• Booking.com: Parceria Global de Distribuição
• Soluções de hospitalidade de sabre: plataforma de integração de tecnologia

Provedores de serviços de manutenção e renovação de propriedades

Provedor de serviços	Valor anual do contrato	Serviços prestados
Grupo CBRE	US $ 18,5 milhões	Gerenciamento de propriedades e renovação
JLL (Jones Lang Lasalle)	US $ 15,3 milhões	Manutenção e atualizações da instalação
Cushman & Wakefield	US $ 12,7 milhões	Serviços de otimização de ativos

RLJ Lodging Trust (RLJ) - Modelo de negócios: Atividades -chave

Adquirir, gerenciar e desenvolver propriedades do hotel

A partir de 2024, o RLJ Lodging Trust gerencia um portfólio de 103 hotéis com 22.570 quartos em 17 estados. A empresa se concentra em investimentos em hotéis em alta e atualização e luxo.

Tipo de propriedade	Número de hotéis	Total de quartos
Upper-UpScale	68	15,342
Luxo	35	7,228

Otimização estratégica de portfólio e gerenciamento de ativos

A estratégia de gerenciamento de ativos da RLJ envolve refinamento contínuo de portfólio e investimentos estratégicos.

• Investimento total nas propriedades do hotel: US $ 4,2 bilhões
• Valor médio da propriedade do hotel: US $ 40,8 milhões
• Taxa de ocupação: 64,3% (Q4 2023)

Gerenciamento de receita e otimização de desempenho

O gerenciamento de receita se concentra em maximizar o desempenho do hotel através de estratégias estratégicas de preços e ocupação.

Métrica de receita	2023 desempenho
Revpar	$108.65
Receita total	US $ 1,12 bilhão

Alocação de capital e estratégia de investimento

A RLJ emprega uma abordagem disciplinada da alocação e investimento de capital.

• Capitalização de mercado total: US $ 1,8 bilhão
• Índice de capitalização dívida / total: 42,6%
• Despesas de capital anual: US $ 87,3 milhões

Gerenciamento de riscos e monitoramento de conformidade

A estrutura abrangente de gerenciamento de riscos garante a excelência operacional e a conformidade regulatória.

Área de conformidade	Monitoramento de métricas
Conformidade regulatória	100% de adesão aos regulamentos de REIT
Orçamento de gerenciamento de riscos	US $ 4,5 milhões anualmente

RLJ Lodging Trust (RLJ) - Modelo de negócios: Recursos -chave

Portfólio diversificado de hotéis de luxo e de alta atualização

A partir do quarto trimestre 2023, a RLJ Lodging Trust possui 87 hotéis com 12.916 quartos em 17 estados. Breakdown de portfólio:

Categoria de hotel	Número de propriedades	Total de quartos
Hotéis sofisticados	52	7,654
Hotéis de escala superior	35	5,262

Forte capital financeiro e mercados de investimento

Métricas financeiras em 31 de dezembro de 2023:

• Total de ativos: US $ 3,89 bilhões
• Dívida total: US $ 1,92 bilhão
• Capitalização de mercado: US $ 1,14 bilhão
• Liquidez: US $ 250 milhões disponíveis Linha de crédito

Equipe de gestão e investimento experiente

Composição de liderança:

• Experiência executiva média: 22 anos em hospitalidade
• Total de funcionários: 318
• Equipe de liderança sênior: 7 executivos

Tecnologia avançada de hospitalidade e análise de dados

Investimentos de infraestrutura de tecnologia:

Categoria de tecnologia	Investimento anual
Plataforma de análise de dados	US $ 3,2 milhões
Sistemas de gerenciamento de receita	US $ 1,7 milhão
Tecnologias de experiência do hóspede	US $ 2,5 milhões

Relacionamentos de marca estabelecidos

Detalhes da parceria da marca:

• Marriott International: 42 propriedades
• Hilton Worldwide: 23 propriedades
• Hyatt Hotels: 12 propriedades
• IHG Hotéis & Resorts: 10 propriedades

RLJ Lodging Trust (RLJ) - Modelo de Negócios: Proposições de Valor

Investimentos de hotéis bem localizados e bem localizados

A RLJ Lodging Trust possui 103 hotéis com 22.130 quartos em 31 de dezembro de 2022. Portfólio avaliado em US $ 4,7 bilhões. Concentrado nos segmentos de escala superior e alta-média superior.

Categoria de hotel	Número de propriedades	Total de quartos
Upper-UpScale	65	14,271
Midscale superior	38	7,859

Retornos consistentes e atraentes para os acionistas

2022 Desempenho financeiro:

• Receita total: US $ 1,1 bilhão
• Lucro líquido: US $ 86,7 milhões
• FFO ajustado: US $ 345,4 milhões

Portfólio imobiliário de hospitalidade gerenciada profissionalmente

Abordagem de gerenciamento:

• Parcerias com operadores de hotéis de primeira linha
• As marcas incluem Marriott, Hilton, Hyatt
• Focado nos principais mercados metropolitanos e resorts

Abordagem de investimento diversificado em vários mercados

Região geográfica	Número de hotéis	Porcentagem de portfólio
Costa Leste	37	36%
Costa Oeste	22	21%
Sudeste	25	24%
Outras regiões	19	19%

Estratégia adaptativa em resposta às tendências da indústria da hospitalidade

Adaptações estratégicas em 2022:

• Disposições seletivas de ativos: US $ 347,5 milhões em vendas de propriedades
• Reinvestimento em mercados de alto potencial
• Mantido forte liquidez: US $ 475 milhões disponíveis Linha de crédito

RLJ Lodging Trust (RLJ) - Modelo de Negócios: Relacionamentos do Cliente

Comunicação e transparência dos investidores

A RLJ Lodging Trust mantém as relações de investidores por meio de canais precisos de comunicação financeira:

Canal de comunicação	Freqüência	Plataforma
Chamadas de ganhos trimestrais	4 vezes por ano	Chamada de webcast/conferência
Reunião Anual dos Acionistas	1 tempo por ano	Apresentação do investidor
Apresentações de investidores	Em andamento	Conferências de investidores

Relatórios financeiros regulares e atualizações de acionistas

Principais métricas de relatórios para investidores:

• Formulário trimestral 10-Q registros
• Relatório anual do formulário 10-K
• Relatório atual sobre o Formulário 8-K para Eventos de Material

Plataformas de relações com investidores digitais

Plataforma digital	Acessibilidade	Características
Site da empresa	24/7 de acesso público	Apresentações de investidores, relatórios financeiros
Banco de dados Sec Edgar	Acesso público	Divulgações financeiras oficiais

Engajamento institucional dos investidores

Detalhes da propriedade institucional a partir do quarto trimestre 2023:

Métrica	Valor
Porcentagem de propriedade institucional	98.4%
Número de detentores institucionais	223

Confiança do investidor orientado ao desempenho

Métricas de desempenho financeiro que influenciam as relações dos investidores:

Métrica de desempenho	2023 valor
Receita total	US $ 637 milhões
Resultado líquido	US $ 84,2 milhões
FFO ajustado	US $ 203,5 milhões

RLJ Lodging Trust (RLJ) - Modelo de Negócios: Canais

Site de Relações com Investidores

A RLJ Lodging Trust mantém um site oficial de relações com investidores em www.rljlodgingtrust.com. O site fornece Acesso em tempo real a informações financeiras e atualizações corporativas.

Recurso do site	Disponibilidade
Relatórios anuais	Formato PDF para download
Ganhos trimestrais	Demonstrações financeiras trimestrais
Apresentações de investidores	Atualizado trimestralmente

Registros da SEC e relatórios financeiros

RLJ Lodging Trust Arquivos Relatórios financeiros abrangentes por meio de vários canais.

• Relatório anual de 10-K apresentado à Sec
• Relatórios trimestrais de 10-Q
• Divisão de eventos de materiais de 8-K

Conferências e apresentações de investidores

Tipo de conferência	Freqüência	Participação
Conferência Bank of America	Anualmente	Apresentação de gerenciamento
Conferência de Lodagem de JP Morgan	Anualmente	Discussões de investidores

Comunicação direta do investidor

RLJ Lodging Trust fornece canais de comunicação direta para investidores.

• Relações com investidores E -mail: ir@rljlodgingtrust.com
• Linha telefônica de relações com investidores dedicados: (202) 331-4300
• Chamadas de conferência de ganhos trimestrais

Mídia financeira e cobertura do analista

Plataforma de mídia	Tipo de cobertura
Terminal Bloomberg	Dados financeiros em tempo real
Reuters	Atualizações financeiras da empresa
Wall Street Journal	Análise periódica da empresa

RLJ Lodging Trust (RLJ) - Modelo de negócios: segmentos de clientes

Investidores institucionais

A partir do quarto trimestre 2023, a propriedade institucional da RLJ Lodging Trust é de 95,2% do total de ações. Os principais investidores institucionais incluem:

Tipo de investidor	Porcentagem de propriedade	Ações detidas
Vanguard Group inc	12.4%	14.672.389 ações
BlackRock Inc.	10.7%	12.653.291 ações
State Street Corporation	8.3%	9.821.456 ações

Empresas de private equity

A RLJ Lodging Trust atrai empresas de private equity com seu portfólio de hotéis diversificado, avaliado em US $ 3,8 bilhões a partir de 2023.

• Número total de hotéis no portfólio: 103
• Total de quartos: 22.474
• Diversificação geográfica em 23 estados

Funcionários de investimento imobiliário (REITs)

RLJ é classificado como um REIT focado em hospedagem Com características específicas de investimento:

REIT METRIC	2023 valor
Capitalização de mercado	US $ 1,96 bilhão
Rendimento de dividendos	4.2%
Receita total	US $ 572 milhões

Investidores individuais de alta rede

A RLJ tem como alvo investidores de alta rede com características específicas de portfólio:

• Investimento médio por indivíduo: US $ 250.000 a US $ 1.000.000
• Focado nos segmentos de hotéis de alta e alta escala
• As marcas incluem Marriott, Hilton e Hyatt

Fundos mútuos e fundos de pensão

Detalhes de propriedade de fundos mútuos e de pensão:

Categoria de fundo	Investimento total	Porcentagem de portfólio
Fundos mútuos	US $ 412 milhões	21.3%
Fundos de pensão	US $ 287 milhões	14.8%

RLJ Lodging Trust (RLJ) - Modelo de negócios: estrutura de custos

Despesas de aquisição e desenvolvimento de propriedades

A partir de 2023 Relatórios Financeiros, os custos de aquisição de propriedades da RLJ Lodging Trust totalizaram US $ 38,7 milhões. As despesas de desenvolvimento para novas propriedades do hotel foram de aproximadamente US $ 12,5 milhões.

Categoria de despesa	Valor ($)
Custos de aquisição de propriedades	38,700,000
Despesas de desenvolvimento	12,500,000

Gerenciamento de hotéis e custos operacionais

Despesas operacionais para o portfólio de hotéis da RLJ em 2023 incluídos:

• Custos de mão -de -obra: US $ 87,3 milhões
• Utilitários: US $ 22,6 milhões
• Manutenção: US $ 16,4 milhões
• Marketing e distribuição: US $ 14,2 milhões

Despesas de juros e financiamento

As despesas totais de juros para 2023 foram de US $ 45,2 milhões. A taxa de juros média em dívida em circulação foi de 5,6%.

Métrica de financiamento	Valor
Despesas totais de juros	$45,200,000
Taxa de juros média	5.6%

Overhead administrativo corporativo

As despesas administrativas corporativas para 2023 quebraram da seguinte forma:

• Salários e benefícios: US $ 9,7 milhões
• Taxas profissionais: US $ 3,2 milhões
• Tecnologia e sistemas: US $ 2,5 milhões
• Despesas de escritório: US $ 1,1 milhão

Investimentos de manutenção e renovação de ativos

As despesas de capital para 2023 totalizaram US $ 52,3 milhões, com alocações específicas:

Tipo de renovação	Investimento ($)
Melhorias da propriedade	35,600,000
Atualizações de infraestrutura	16,700,000

RLJ Lodging Trust (RLJ) - Modelo de negócios: fluxos de receita

Receita de aluguel de propriedades do hotel

A partir do quarto trimestre de 2023, a receita total do RLJ Lodging Trust com aluguel de propriedades do hotel foi de US $ 305,4 milhões. O portfólio consiste em 103 hotéis com 22.482 quartos no total em 17 estados.

Categoria de receita	Valor ($)	Percentagem
Hotéis de luxo	87,600,000	28.7%
Hotéis de luxo superior	134,376,000	44%
Hotéis de serviço completo	83,484,000	27.3%

Apreciação de propriedades e ganhos de venda

Em 2023, a RLJ percebeu US $ 42,3 milhões em vendas de propriedades, com uma taxa média de valorização de 6,2% por propriedade.

Distribuições de dividendos aos acionistas

A RLJ Lodging Trust distribuiu US $ 0,40 por ação em dividendos para 2023, totalizando aproximadamente US $ 28,6 milhões para os acionistas.

Ano	Dividendo por ação	Distribuição total de dividendos
2023	$0.40	$28,600,000
2022	$0.35	$25,050,000

Taxas de gerenciamento baseadas em desempenho

As taxas de gerenciamento de desempenho para 2023 totalizaram US $ 12,7 milhões, derivadas de contratos estratégicos de gerenciamento de hotéis.

Monetização de portfólio de ativos estratégicos

O portfólio de ativos estratégicos da RLJ gerou fluxos de receita adicionais:

• Acordos de franquia de hotéis: US $ 9,2 milhões
• Receitas de serviço auxiliares: US $ 6,5 milhões
• Programas de parceria corporativa: US $ 4,3 milhões

Fluxos totais de receita para 2023: US $ 399,7 milhões

RLJ Lodging Trust (RLJ) - Canvas Business Model: Value Propositions

You're looking at the core reasons why guests choose RLJ Lodging Trust properties and why investors back the trust. It's about the brands they own and where those hotels sit in the market.

Access to premium-branded, high-quality hotel experiences is central. RLJ Lodging Trust owns a portfolio consisting of 96 hotels with approximately 21,200 rooms as of December 7, 2025. These properties operate under major global brand names, specifically the Marriott, Hilton, and Hyatt brands.

The geographic placement is strategic, focusing on high-demand urban and dense suburban markets. The portfolio is geographically diverse, located across 23 states and the District of Columbia. This concentration in urban markets targets multiple demand generators from business and leisure travelers.

RLJ Lodging Trust emphasizes focused-service and compact full-service models. This model choice is designed to deliver higher operating margins compared to traditional full-service hotels. The Q3 2025 results showed that out-of-room revenues grew by 1.3% during the quarter, highlighting success in maximizing revenue streams beyond just room nights.

The value proposition for guests is reinforced by leveraging the global brand loyalty programs associated with Marriott, Hilton, and Hyatt, which helps drive reliable guest volume. For investors, the value is rooted in the real estate backing and the income stream.

Here are some key operational and financial metrics supporting this value proposition as of late 2025:

Metric	Value	Context/Date
Trailing 12-Month Revenue	$1.35B USD	As of 30-Sep-2025
Q3 2025 Total Revenues	$330.0 million USD	For the three months ended September 30, 2025
Q3 2025 Portfolio Comparable RevPAR	$138.51 USD	For the three months ended September 30, 2025
Q3 2025 Adjusted FFO per Share/Unit	$0.27 USD	For the three months ended September 30, 2025
Last Declared Quarterly Dividend	$0.15 USD per common share	Q3 2025, paid October 15, 2025
Annualized Dividend (TTM)	$0.60 USD	As of December 03, 2025
Dividend Yield (TTM)	8.10% to 8.25%	As of December 2025
Remaining Share Repurchase Capacity	$245.7 million USD	As of November 5, 2025

The dividend-paying security aspect is supported by the recent quarterly distribution of $0.15 per common share. The TTM (Trailing Twelve Month) dividend payout stands at $0.60 per share, yielding around 8.10% as of early December 2025.

The company is actively managing its asset base to enhance value, evidenced by the sale of the Courtyard Atlanta Buckhead in March 2025. Furthermore, the remaining share repurchase program capacity stood at $245.7 million as of November 5, 2025.

• Hotels are under Marriott, Hilton, and Hyatt brands.
• Portfolio size: 96 hotels with 21,200 rooms.
• Concentration in urban markets.
• Q3 2025 Adjusted FFO per share/unit: $0.27.
• TTM Dividend Yield: Approximately 8.20%.

The lean operating model, which contributes to the focused-service value, helped achieve Comparable Hotel EBITDA of $80.8 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

RLJ Lodging Trust (RLJ) - Canvas Business Model: Customer Relationships

You're managing a portfolio of premium-branded hotels, so your direct relationship with the end guest is often filtered, which is a key part of the structure here. The core customer interaction for the traveler staying at one of the 94 hotels in the RLJ Lodging Trust portfolio, which totals approximately 21,000 rooms as of September 30, 2025, is primarily with the hotel operator and, by extension, the major brand itself.

Indirect relationship managed primarily through franchisor's systems

Honestly, the day-to-day guest experience is dictated by the franchise agreement. RLJ Lodging Trust owns the bricks and mortar, but the brand-be it Marriott, Hilton, or Hyatt-sets the service standards, the operating playbook, and the reservation system. This means the guest relationship is largely indirect, managed by the franchisor's established systems. The guest experience is transactional for the stay itself-they book a room, they stay, they pay-but the underlying relationship is built on the long-term equity of the brand they trust.

Direct asset management oversight to ensure operator performance and cost control

Since RLJ Lodging Trust is a self-advised real estate investment trust, its asset management team steps in to bridge that gap between ownership and the independent managers running the properties day-to-day. They don't run the front desk, but they definitely watch the score. This team monitors performance daily and holds frequent meetings with the corporate executives of the management companies. They focus intensely on revenue management, market positioning, and cost structure. For instance, they work on identifying and evaluating Return on Investment (ROI) initiatives, which contributed to out-of-room revenues growing by 1.3% in Q3 2025 despite lower occupancy. Plus, RLJ Lodging Trust retains approval rights on critical roles, like the hotel's general manager and director of sales, ensuring alignment on strategy.

Here's a quick look at the operational context as of the third quarter of 2025:

Metric	Value (As of Q3 2025)	Context/Period
Portfolio Size (Hotels)	94	As of September 30, 2025
Comparable RevPAR	$138.51	Q3 2025, a 5.1% decrease year-over-year
Total Revenues	$330.0 million	Q3 2025
Comparable Hotel EBITDA	$80.8 million	Q3 2025
Adjusted FFO per Share/Unit	$0.27	Q3 2025
Out-of-Room Revenue Growth	1.3%	Q3 2025

Investor relations and communication for shareholders and analysts

For the capital providers-the shareholders and analysts-the relationship is direct and highly structured. RLJ Lodging Trust maintains a consistent cadence of communication, with the Q3 2025 earnings conference call held on November 6, 2025. They provide supplemental information and investor presentations, such as the one released in November 2025, to keep the financial community informed on portfolio strategy, including ongoing brand conversions like the Boston property moving to Hilton's Tapestry Collection.

Shareholder capital management is a key communication point, showing direct engagement with the ownership base:

• Year-to-date share repurchases reached 3.3 million common shares for approximately $28.6 million as of November 5, 2025.
• The remaining capacity under the 2025 share repurchase program stood at $245.7 million.
• Q3 2025 saw a repurchase of 0.2 million shares for about $1.3 million.

Leveraging major brand loyalty programs for guest retention

The reliance on Marriott, Hilton, and Hyatt means RLJ Lodging Trust inherently benefits from their massive loyalty ecosystems. These programs are crucial for driving occupancy because they lower customer acquisition costs for the operator and secure repeat business. Industry data suggests that loyalty program fees paid by owners grew by 3.9% from 2023 to 2024, outpacing the growth in rooms revenue, which implies loyalty members are making up a larger share of stays. For RLJ Lodging Trust, this translates to a customer base that is often less price-sensitive, which is beneficial, especially as business-transient demand was reported at 81% of pre-pandemic levels in early 2025.

Transactional for hotel stays, but long-term for brand relationships

The relationship is dual-natured. For the individual booking, it's transactional-a room night at a specific location. However, for RLJ Lodging Trust as the owner, the relationship is a long-term strategic partnership with the franchisors. This partnership is about maintaining property value and ensuring the operator maximizes profits while adhering to brand standards. The company's focus on conversions and repositionings, like the eight announced as of late 2023, shows a commitment to optimizing these long-term brand relationships to unlock embedded value.

Finance: review the impact of the $245.7 million remaining share repurchase capacity on Q4 2025 FFO guidance by next Tuesday.

RLJ Lodging Trust (RLJ) - Canvas Business Model: Channels

You're looking at how RLJ Lodging Trust gets its product-rooms and services across its 94 hotels-into the hands of the customer, which is a mix of direct engagement and reliance on major third-party systems. This is critical because, as a REIT, their channel efficiency directly impacts the Adjusted FFO per diluted share they guide for, which was projected between $1.31 and $1.37 for full-year 2025.

Global Distribution Systems (GDS) and Online Travel Agencies (OTAs)

RLJ Lodging Trust relies on the broader travel ecosystem, meaning a significant portion of bookings flows through Global Distribution Systems (GDS) and Online Travel Agencies (OTAs). While the exact percentage split isn't published in the Q3 2025 supplemental data, this channel is the default access point for many transient and corporate bookers. The company's strategy focuses on owning premium-branded assets in urban markets, which are heavily indexed in these high-volume booking channels. The overall portfolio, as of June 30, 2025, comprised 94 hotels with about 21,000 rooms.

Major franchisor central reservation systems (e.g., Marriott.com, Hilton.com)

A core component of the channel strategy is the relationship with major franchisors. RLJ Lodging Trust hotels operate under globally recognized brands, including flags from Marriott, Hilton, and Hyatt. This means direct booking channels like Marriott.com and Hilton.com are primary distribution avenues. These systems offer brand loyalty benefits that often drive higher-rated, more stable demand compared to OTAs. The portfolio includes brands like Courtyard by Marriott, Residence Inn by Marriott, AC Hotels, Moxy Hotels, Hilton Garden Inn, Embassy Suites, Hyatt Place, and Wyndham.

Hotel-level direct sales teams and on-site property staff

On-site teams are responsible for capturing demand that bypasses the major online channels, focusing on local, group, and transient business. This direct effort contributes to the non-room revenue growth the company highlights; for instance, out-of-room spend grew by 1.3% in Q3 2025. The property staff manages the day-to-day execution of revenue management strategies, aiming to maximize the Average Daily Rate (ADR), which stood at $190 in Q3 2025.

Investor Relations website and NYSE trading platform for capital access

For capital access, the channel is the public market. RLJ Lodging Trust trades on the New York Stock Exchange (NYSE) under the ticker RLJ. The Investor Relations website, www.rljlodgingtrust.com, serves as the direct channel for communicating financial performance, such as the Q3 2025 results released on November 5, 2025. The company actively manages its capital structure through this platform, evidenced by the remaining capacity on its 2025 share repurchase program of $245.7 million as of November 5, 2025.

Here's a quick look at the scale of the assets being managed through these channels as of mid-2025:

Metric	Value (As of Q2/Q3 2025)	Context
Total Hotels Owned	94	As of June 30, 2025
Total Rooms Owned	Approx. 21,000	As of June 30, 2025
Q3 2025 Total Revenue	$330.0 million	Reported for the third quarter ended September 30, 2025
Q3 2025 Comparable RevPAR	$138.51	A decrease of 5.1% over the prior year
Q3 2025 Occupancy Rate	73%	Reported for the third quarter
Q3 2025 Average Daily Rate (ADR)	$190	Reported for the third quarter

Direct asset management team communication with property operators

The self-advised structure means a dedicated asset management team is a key internal channel for operational control. This team monitors hotel performance on a daily basis and holds frequent ownership meetings with corporate operations executives and key personnel at the hotels. They work closely with independent managers on revenue management, market positioning, cost structure, and identifying return on investment initiatives. For instance, the team works on capital and operational budgeting, and they retain approval rights for key staffing positions, such as the hotel's general manager and director of sales, at many properties.

RLJ Lodging Trust (RLJ) - Canvas Business Model: Customer Segments

You're looking at the core groups RLJ Lodging Trust serves, which is key to understanding their revenue engine. Honestly, for a Real Estate Investment Trust (REIT) like RLJ Lodging Trust, the customer segments aren't just guests; they include the people funding the whole operation, too.

Business travelers requiring consistent, premium-branded accommodations

This group relies on RLJ Lodging Trust's portfolio of premium-branded, focused-service, and compact full-service hotels. These assets are intentionally placed in urban markets that offer multiple demand generators, which often means proximity to corporate headquarters and business hubs. The consistency of brands like Marriott, Hilton, and Hyatt is what keeps these corporate accounts coming back. For example, in the third quarter of 2025, RLJ Lodging Trust saw non-government-related business travel deliver a 2.4% revenue growth. Furthermore, corporate rates specifically were up a healthy 3% during that same period, showing that the highest-rated corporate customers are definitely returning to their properties.

Leisure travelers seeking urban and major market destinations

Leisure demand is a major driver, especially in the key urban markets where RLJ Lodging Trust concentrates its 94 hotels and approximately 20,982 rooms. While overall portfolio comparable Revenue Per Available Room (RevPAR) dipped 5.1% in Q3 2025, certain urban markets showed significant strength, indicating strong leisure pull. To be fair, this segment is sensitive to broader economic shifts, as seen by the overall occupancy decline of 3.1% in Q3 2025. Still, the performance in specific leisure-heavy urban areas was impressive:

• San Francisco RevPAR growth: 19.4%.
• Atlanta RevPAR growth: 12.1%.
• New York City RevPAR growth: 4.7%.

Geographically, for the nine months ending September 30, 2025, major markets like Southern California and Northern California each contributed $128.7 million in revenue, and South Florida added $112.6 million.

Group and convention business in key citywide markets

Group business is a critical component, though it faced some near-term noise in Q3 2025. Management noted that the shift of the Jewish holidays into September softened the citywide calendar across many markets, and ongoing convention center transformations, like the one in Austin, also had an impact. This segment is highly dependent on the local convention and event calendar, which can cause volatility quarter-to-quarter. The company is actively working to capture this demand through strategic asset improvements, such as completing transformative renovations in Waikiki, Key West, and Fort Lauderdale.

Here's a quick look at the portfolio size and the Q3 2025 operational snapshot that reflects the demand across these segments:

Metric	Value as of Q3 2025 / Latest Data
Total Hotels Owned	94
Total Rooms	Approximately 20,982
Portfolio Comparable RevPAR (Q3 2025)	$138.51, a decrease of 5.1% year-over-year
Portfolio Occupancy (Q3 2025)	73%, a decline of 3.1%
Portfolio Average Daily Rate (ADR) (Q3 2025)	$190, a decrease of 2.1%
Total Revenues (Q3 2025)	$330.0 million

Institutional and individual investors (shareholders) in the REIT

As a publicly traded REIT on the NYSE, RLJ Lodging Trust's financial health and strategy are directly aimed at its shareholders. This segment is interested in the stability of the asset base, debt management, and return of capital. As of October 30, 2025, the company's market capitalization stood at $1.04B, based on 151M shares outstanding. The company has shown a commitment to returning capital through share repurchases, executing 3.3 million shares repurchased year-to-date for approximately $28.6 million. Furthermore, the balance sheet is managed to appeal to institutional holders, with 74% of debt fixed or hedged, and all 2025 debt maturities addressed. This focus on financial structure is what keeps the institutional money interested.

RLJ Lodging Trust (RLJ) - Canvas Business Model: Cost Structure

The Cost Structure for RLJ Lodging Trust is heavily influenced by debt servicing and ongoing property investment, characteristic of a real estate investment trust focused on premium-branded hotels. You need to keep a close eye on these fixed and semi-fixed outflows to gauge operational flexibility.

A significant portion of the cost base is tied to financing the asset portfolio. The projected Net interest expense for the full year 2025 is set in the range of $94.0 million to $96.0 million. This represents a major fixed commitment. To give you context on how that interest is calculated, as of the third quarter of 2025, RLJ Lodging Trust had $2.2 billion in debt with a weighted-average interest rate of 4.7%.

The table below summarizes the key projected annual financial commitments for 2025:

Cost Category	Projected 2025 Range (Millions USD)	Notes
Net Interest Expense	$94.0M to $96.0M	High fixed cost related to debt servicing
Capital Expenditures (Renovations)	$80.0M to $100.0M	Investment in property improvements and brand standards
Cash Corporate G&A	$34.0M to $35.0M	Overhead for the self-advised management structure

Hotel operating expenses are variable but substantial, directly tied to running the 94-hotel portfolio. While specific line-item costs for labor, utilities, property taxes, and insurance aren't explicitly broken out in the forward guidance, the efficiency of managing these is reflected in the margin performance. For instance, in the third quarter of 2025, the company achieved a Hotel EBITDA margin of 24.5%. This margin shows how effectively RLJ Lodging Trust managed its day-to-day property costs against hotel revenues during that period.

Ongoing investment in the physical assets is a critical cost component, ensuring brand compliance and driving future revenue. Capital expenditures dedicated to renovations for the full year 2025 are projected to be between $80.0 million and $100.0 million. This spending is strategic, aimed at unlocking embedded value through property transformations.

The corporate overhead, or Cash corporate G&A, is projected to fall between $34.0 million and $35.0 million for 2025. This cost supports the self-advised structure of RLJ Lodging Trust.

Another necessary outflow involves payments to the major hotel brands that RLJ Lodging Trust partners with. These are the Franchise fees paid to major hotel brands, which typically include base fees and often incentive fees tied to revenue performance. These fees are a direct operational cost embedded within the hotel-level expenses, though a specific dollar projection for 2025 wasn't detailed in the latest guidance summaries.

You can see the major operational cost drivers below:

• Debt servicing costs, with interest expense projected annually in the $94.0M to $96.0M band.
• Property-level expenses contributing to the 24.5% Hotel EBITDA margin in Q3 2025.
• Significant capital outlay for renovations, budgeted at $80.0M to $100.0M for 2025.
• Fixed corporate overhead projected between $34.0M and $35.0M.

Finance: draft 13-week cash view by Friday.

RLJ Lodging Trust (RLJ) - Canvas Business Model: Revenue Streams

You're looking at how RLJ Lodging Trust actually brings in the cash to keep those premium-branded hotels running. Honestly, it all comes down to the guest staying the night, but they're getting smarter about the other stuff, too.

The primary source is definitely the money from rooms. That's the bread and butter for any hotel REIT. For instance, in the first quarter of 2025, room revenue hit $267.7 million, which was a big chunk of their total $328.1 million for that period. That tells you where the focus is.

Still, they are pushing hard on the secondary streams. Food and beverage revenue, for example, is a key component they track. To give you a concrete number, Q1 2025 saw food and beverage revenue reach $37.5 million. That's the kind of ancillary income that helps smooth out the volatility you see in room rates.

RLJ Lodging Trust also generates other out-of-room revenues. They specifically mentioned success from their Return on Investment (ROI) initiatives driving growth in these areas. You should expect revenue from:

• Parking fees.
• Meeting space rental.
• Expanded market offerings.

The top-line number for the most recent quarter we have data for, Q3 2025, was $330.0 million in Total Revenues. That figure is the aggregate of all those streams, even though occupancy was softer, showing the benefit of their focus on non-room spend.

Plus, you can't forget the capital recycling aspect. This isn't operating revenue, but it's a financial inflow that supports the business model. They actively dispose of assets to free up capital. As an example of this strategy in action, during Q1 2025, RLJ Lodging Trust sold one non-core hotel for $24.3 million, and they used those proceeds for share repurchases. That's capital recycling at work.

Here's a quick look at some of those key revenue figures we've seen recently:

Revenue Component	Period	Amount
Total Revenues	Q3 2025	$330.0 million
Room Revenue (Example)	Q1 2025	$267.7 million
Food and Beverage Revenue (Example)	Q1 2025	$37.5 million
Proceeds from Asset Disposition (Example)	Q1 2025	$24.3 million

The management noted that non-room revenue growth in Q3 2025 was 1.3%, which outperformed the RevPAR decline by over 600 basis points. That's a clear indicator of where they are focusing operational improvements to diversify income away from just the nightly room rate.

Finance: draft the Q4 2025 revenue projection based on the Q3 run-rate by Wednesday.