RLJ Lodging Trust (NYSE:RLJ) Q3 2023 Earnings Conference Call November 2, 2023 12:00 PM ET

Company Participants

Nikhil Bhalla - Senior Vice President, Finance and Treasurer

Leslie Hale - President and CEO

Sean Mahoney - Executive Vice President and CFO

Tom Bardenett - Executive Vice President and COO

Conference Call Participants

Michael Bellisario - Robert W. Baird

Dori Kesten - Wells Fargo

William Crow - Raymond James

Gregory Miller - Truist Securities

Tyler Batory - Oppenheimer

Chris Woronka - Deutsche Bank

Austin Wurschmidt - KeyBanc Capital Markets

Floris Van Dijkum - Compass Point Research

Anthony Powell - Barclays

Operator

Welcome to the RLJ Lodging Trust Third Quarter 2023 Earnings Call. [Operator Instructions]

I would now like to turn the call over to Nikhil Bhalla, RLJ's Senior Vice President, Finance and Treasurer. Please go ahead.

Nikhil Bhalla

Thank you, operator. Good afternoon, and welcome to RLJ Lodging Trust's 2023 Third Quarter Earnings Call. On today's call, Leslie Hale, our President and Chief Executive Officer, will discuss key highlights for the quarter; Sean Mahoney, our Executive Vice President and Chief Financial Officer, will discuss the company's financial results; Tom Bardenett, our Chief Operating Officer, will be available for Q&A.

Forward-looking statements made on this call are subject to numerous risks and uncertainties that may lead the company's actual results to differ materially from what had been communicated. Factors that may impact the results of the company can be found in the company's 10-Q and other reports filed with the SEC. The company undertakes no obligation to update forward-looking statements. Also, as we discuss certain non-GAAP measures, it may be helpful to review the reconciliations to GAAP located in our press release.

Finally, please refer to the schedule of supplemental information, which was posted to our website last night, which includes our pro forma operating results for our current hotel portfolio.

I will now turn the call over to Leslie.

Leslie Hale

Thanks, Nikhil. Good afternoon, everyone, and thank you for joining us today. Our third quarter results reflect the benefits of our urban-centric portfolio, which is ideally positioned to capture the emerging trends as evidenced by our RevPAR growth exceeding the industry for the third straight quarter. Our above-industry results were led by our urban markets, which are disproportionately benefiting from positive trends across all segments of demand. We were particularly pleased to see these trends accelerate throughout the quarter, culminating with September achieving new highs.