Rlj Lodging Trust · NYSE:RLJ
Rlj Lodging Trust — Citi's Global Property CEO Conference 2026
37 slides from Rlj Lodging Trust's conference presentation, March 2026
Slide 1: Citi's Global Property CEO Conference
New Pictures CITI’S GLOBAL PROPERTY CEO CONFERENCE MARCH 2026
Slide 2: RLJ Investment Highlights
RLJ | INVESTMENT HIGHLIGHTS RLJ has a diversified, urban-centric portfolio with unique growth catalysts, a lean operating model, and a favorable capital structure High-quality portfolio with an attractive growth profile HIGH-QUALITY Urban-centric portfolio positioned to capture all segments of dem
Slide 3: Operating Performance: Q4 & 2025 Update
OPERATING PERFORMANCE | Q4 & 2025 UPDATE RLJ’s urban-centric portfolio continues to demonstrate resiliency, reflecting the benefits of its portfolio construct and diversified footprint Q4 Results came in ahead of expectations RevPAR declined by 1.5%, reflecting the impact of the government shutdow
Slide 4: Operating Performance: 2026 Outlook
OPERATING PERFORMANCE | 2026 OUTLOOK RLJ should benefit from a favorable footprint and a number of unique growth catalysts in 2026 Performance poised to benefit from a number of tailwinds Broad based growth across all demand segments that Urban markets are capturing A strong lineup of special ev
Slide 5: Urban Markets Poised to Capture 2026 Tailwinds
RLJ | URBAN MARKETS POISED TO CAPTURE 2026 TAILWINDS Urban markets are positioned to outperform, benefitting from a broad array of demand drivers in 2026 – The upcoming FIFA World Cup and a robust lineup of special events will disproportionately benefit RLJ’s Urban markets Key Urban Demand Catalysts
Slide 6: Footprint Positioned to Capture 2026 Tailwinds
RLJ | FOOTPRINT POSITIONED TO CAPTURE 2026 TAILWINDS The World Cup is expected to be a key driver of U.S. RevPAR growth in 2026 RLJ’s urban footprint is expected to disproportionately benefit from these events 2026 FIFA World Cup By The Numbers 2026 FIFA World Cup Host Cities – United States 104 M
Slide 7: Northern California Recovery Underway
RLJ | NORTHERN CALIFORNIA RECOVERY UNDERWAY Northern California, RLJ’s largest market, has a favorable outlook over the next several years – Drivers include a thriving tech economy, a strong lineup of special events, and improved perception of local environment 12 2,806 +6%1 RLJ Hotels Rooms Market
Slide 8: Multiple Channels of Growth
RLJ | MULTIPLE CHANNELS OF GROWTH URBAN CENTRIC PORTFOLIO INITIAL CONVERSIONS / FUTURE BALANCE SHEET ORGANIC GROWTH ACQUISITIONS PIPELINE OF CONVERSIONS OPTIONALITY Multiple demand drivers Pacing ahead of Targeting two conversions Strong Liquidity Capture new normal underwriting per year
Slide 9: High Quality Portfolio
RLJ | HIGH QUALITY PORTFOLIO RLJ owns a geographically diversified portfolio of premium branded, high-margin hotels Portfolio Overview(1) Hotels 92 Rooms 20,588 ADR $200 RevPAR $143 EBITDA/Key $18k Brand Exposure(1) 12% 43% 37% 8% Independent/Other (1) Based on TTM pro forma EBITDA for the portfolio
Slide 10: High Quality Portfolio by Segment
RLJ | HIGH QUALITY PORTFOLIO URBAN LIFESTYLE U R B A N G AT E W AY RESORT URBAN METRO 33 31 11 17 # of HOTELS # of HOTELS # of HOTELS # of HOTELS 39% 37% 14% 10% of EBITDA of EBITDA of EBITDA of EBITDA $21K $22K $25K $16K EBITDA / KEY EBITDA / KEY EBITDA / KEY EBITDA / KEY Based on FY 2019 EBITDA pr
Slide 11: Urban Lifestyle
URBAN LIFESTYLE P R O P E RT I E S I N T O P U R B A N S U B M A R K E T S T H AT B E N E F I T F R O M S E V E N - D A Y- A - W E E K D E M A N D A N D “ B L E I S U R E ” W I T H H I G H L E I S U R E M I X 3 9 % O F E B I T DA (1) THE BANKER’S ALLEY HOTEL NASHVILLE THE KNICKERBOCKER NEW YORK AC H
Slide 12: Urban Gateway
Breakout slide option 1 URBAN GATEWAY P R O P E RT I E S L O C AT E D I N T O P H OT E L M A R K E T S I N T H E U . S . , T H AT A R E A L S O T H E N AT I O N ’ S K E Y E C O N O M I C C E N T E R S 3 7 % O F E B I T DA (1) COURTYARD NEW YORK MANHATTAN UPPER EAST SIDE HYATT PLACE WASHINGTON DC DTW
Slide 13: Resort
RESORT P R O P E RT I E S L O C AT E D I N R E S O RT D E S T I N AT I O N S W I T H A HIGH LEISURE MIX 1 4 % O F E B I T DA (1) THE PIERSIDE AT SANTA MONICA ZACHARI DUNES ON MANDALAY BEACH-HOTEL & RESORT EMBASSY SUITES DEERFIELD BEACH RESORT DOUBLETRREE GRAND KEY RESORT FAIRFIELD INN & SUITES KEY W
Slide 14: Urban Metro
URBAN METRO P R O P E RT I E S L O C AT E D I N N I C H E S U B M A R K E T S W I T H I N M A J O R U . S . H OT E L M A R K E T S 1 0 % O F E B I T DA (1) HYATT HOUSE SANTA CLARA EMBASSY SUITES MINNEAPOLIS AIRPORT MARRIOTT CHICAGO MIDWAY MARRIOTT DENVER SOUTH AT PARK MEADOWS HYATT PLACE MADISON DOW
Slide 15: Diversified Footprint
RLJ | DIVERSIFIED FOOTPRINT RLJ’s footprint in top Urban markets is well-positioned to capture recovery in all segments Sunbelt markets represent +50% of RLJ’s Hotel EBITDA(1) Over 2/3rds of RLJ’s portfolio is concentrated in Urban markets (1) Seattle Portland Minneapolis 5% Boston NoCal 9% Madi
Slide 16: Multiple Channels to Drive Shareholder Value
RLJ | MULTIPLE CHANNELS TO DRIVE SHAREHOLDER VALUE INTERNAL GROWTH From conversions, ROIs and margin expansion initiatives CAPITAL EXTERNAL RETURNS GROWTH Dividends Acquisitions in and Share repurchases ramp up MARCH 2026 16
Slide 17: Multiple Channels of Growth
RLJ | MULTIPLE CHANNELS OF GROWTH Internal Growth Status Returns Phase 1 Conversions/ROIs/Margin Expansion In Ramp Up +$34M / ~50% IRR Phase 2 Conversions/ROIs/Margin Expansion In Progress +$9-11M / ~50% IRR Hampton Inn Midtown Atlanta Stabilizing External Growth Moxy Denver Cherry Creek Stabilizing
Slide 18: Internal Growth: Proven Track Record
INTERNAL GROWTH | PROVEN TRACK RECORD RLJ has a strong track record of unlocking value embedded from its internal growth opportunities Phase I execution significantly surpassed initial underwriting Phase II execution currently underway with ramp up ahead +$34M EBITDA Contribution Realized Phase
Slide 19: Internal Growth: Phase I and II Conversions
INTERNAL GROWTH | PHASE I AND II CONVERSIONS ZACHARI DUNES ON MANDALAY BEACH - 2022 MILLS HOUSE CHARLESTON - 2022 THE PIERSIDE SANTA MONICA – 2022 As one of only two beachfront Hilton-branded properties Charleston is a top drive-to, growth market with strong Santa Monica is a top leisure desti
Slide 20: Internal Growth: Phase II Conversions
INTERNAL GROWTH | PHASE II CONVERSIONS BANKERS ALLEY HOTEL NASHVILLE – 2025 Nashville is a top growth market with 2nd Avenue redevelopment poised to drive incremental growth Conversion to Hilton’s Tapestry Collection from Accor’s 21c brand allows for capturing of higher rated Hilton Honors membe
Slide 21: Internal Growth: Wyndham Boston Beacon Hill
INTERNAL GROWTH | WYNDHAM BOSTON BEACON HILL Will be joining Hilton’s Tapestry Collection, with the conversion commencing in late 2026 Boston represents a top hotel market with a favorable growth outlook for the next several years, supported by a strong corporate base, a robust life sciences indus
Slide 22: Internal Growth: Embedded Pipeline of Opportunities
INTERNAL GROWTH | EMBEDDED PIPELINE OF OPPORTUNITIES RLJ is well positioned for continued value creation through incremental conversions and value-add opportunities Incremental 10-to-15 conversion and value-add opportunities in portfolio Brand expirations Remix customer base Conversions with B
Slide 23: Internal Growth: Transformative 2025 Renovations
INTERNAL GROWTH | TRANSFORMATIVE 2025 RENOVATIONS Portfolio positioned to benefit from the ramp up of 2025 transformative renovations • Comprehensive guest room renovations at all properties • Reimagined arrival experience and public spaces • Reconcepted F&B venues to drive higher beverage and incre
Slide 24: Embassy Suites Deerfield Beach Renovation
INTERNAL GROWTH | TRANSFORMATIVE 2025 RENOVATIONS EMBASSY SUITES BY HILTON DEERFIELD BEACH RESORT & SPA MARCH 2026 24
Slide 25: DoubleTree Grand Key Renovation
INTERNAL GROWTH | TRANSFORMATIVE 2025 RENOVATIONS DOUBLETREE RESORT BY HILTON HOTEL GRAND KEY – KEY WEST MARCH 2026 25
Slide 26: Courtyard Waikiki Beach Renovation
INTERNAL GROWTH | TRANSFORMATIVE 2025 RENOVATIONS COURTYARD BY MARRIOTT WAIKIKI BEACH MARCH 2026 26
Slide 27: Internal Growth: Value Creation Through ROIs
INTERNAL GROWTH | VALUE CREATION THROUGH ROIs Unlocking embedded value through executing multiple high return ROI projects that increase out-of- room spend and optimize non-revenue generating spaces RESIDENCE INN BETHESDA Converted unutilized rooftop to revenue generating function space Outdoor
Slide 28: External Growth: Hotel Teatro Acquisition
EXTERNAL GROWTH | HOTEL TEATRO ACQUISITION RLJ acquired the Hotel Teatro Downtown Denver in May 2024 for $35.5M Rooms-Oriented - 110-room, boutique lifestyle hotel in the Denver CBD High Margins - ~32% stabilized margins High Growth Market - Colorado is one of the fastest growing lodging markets, dr
Slide 29: External Growth: Acquisitions
EXTERNAL GROWTH | ACQUISITIONS Since 2021, RLJ has accretively deployed capital into a number of high-quality acquisitions in top growth markets HAMPTON INN & SUITES AC HOTEL MOXY THE BANKER’S ALLEY HOTEL ATLANTA MIDTOWN BOSTON DOWNTOWN DENVER CHERRY CREEK NASHVILLE 186 $150 2021 205 $200 2021 170 $
Slide 30: Best-in-Class Balance Sheet
BEST-IN-CLASS BALANCE SHEET RLJ has a strong balance sheet and well-staggered debt maturity profile, with no debt maturing until 2029(1)(2) Strong and flexible balance sheet with significant liquidity Over $1.0B of liquidity, including $600M availability on LOC and $410M of unrestricted cash ‒ No
Slide 31: RLJ Investment Highlights
RLJ | INVESTMENT HIGHLIGHTS RLJ has a diversified, urban-centric portfolio with unique growth catalysts, a lean operating model, and a favorable capital structure High-quality portfolio with an attractive growth profile HIGH-QUALITY Urban-centric portfolio positioned to capture all segments of dem
Slide 32: Corporate Responsibility
CORPORATE RESPONSIBILITY COURTYARD WAIKIKI BEACH MARCH 2026 32
Slide 33: RLJ ESG: Corporate Responsibility
RLJ ESG | CORPORATE RESPONSIBILITY Our sustainability strategy aligns our ESG objectives with our commitment to generate long-term stakeholder value D R I V E Drive Reduce Improve Validate Expand revenue growth by cost through investments our human capital by our sustainability our engagement with o
Slide 34: RLJ ESG: Environmental
RLJ ESG | CORPORATE RESPONSIBILITY Our sustainability strategy aligns our ESG objectives with our commitment to generate long-term stakeholder value In recognition of the strategic importance of increasing environmental efficiency we… Achieved cost reductions through investment in energy, carbon a
Slide 35: RLJ ESG: Social
RLJ ESG | CORPORATE RESPONSIBILITY Our sustainability strategy aligns our ESG objectives with our commitment to generate long-term stakeholder value Our commitment and leadership on social responsibility continues with… Supporting communities through inclusive labor practices, policies and philant
Slide 36: RLJ ESG: Governance
RLJ ESG | CORPORATE RESPONSIBILITY Our sustainability strategy aligns our ESG objectives with our commitment to generate long-term stakeholder value We are strengthening our approach to governance by… Maintaining transparency with investors on our strategic approach to ESG performance Having for
Slide 37: Forward-Looking Statements
FORWARD - LOOKING STATEMENTS This information contains certain statements, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, and the assumptions upon which those statements are b
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