RLJ Lodging Trust announced robust financial results for the third quarter ended September 30, 2024. The company reported a comparable RevPAR of $145.23, marking a 2.0% increase from the prior year. Comparable Hotel Revenue also grew by 3.0% to $344.7 million, reflecting solid operational performance.
Net Income for the quarter stood at $20.6 million, while Comparable Hotel EBITDA increased by 2.6% to $100.7 million. Adjusted EBITDA saw a 3.6% rise, reaching $91.9 million, demonstrating the company's ability to drive profitability.
In a significant move for shareholders, RLJ Lodging Trust announced a 50% increase in its quarterly cash dividend. This substantial dividend hike signals management's confidence in the company's financial strength and its commitment to returning capital to shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.