RLJ Lodging Trust (NYSE:RLJ) Q4 2023 Results Conference Call February 27, 2024 10:00 AM ET

Company Participants

Nikhil Bhalla - Senior Vice President, Finance and Treasurer

Leslie Hale - President and Chief Executive Officer

Sean Mahoney - Executive Vice President and Chief Financial Officer

Tom Bardenett - Chief Operating Officer

Conference Call Participants

Anthony Powell - Barclays

Gregory Miller - Truist

Michael Bellisario - Baird

Dori Kesten - Wells Fargo

Tyler Batory - Oppenheimer

Chris Darling - Green Street Advisors

Austin Wurschmidt - KeyBanc

Floris Van Dijkum - Compass Point

Bill Crow - Raymond James

Operator

Welcome to the RLJ Lodging Trust Fourth Quarter 2023 Earnings Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask question. [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 morning and welcome to RLJ Lodging Trust 2023 fourth quarter and full year 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-K 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 morning everyone, and thank you for joining us. We are very pleased with our fourth quarter results, which outperformed the industry for the fourth consecutive quarter, demonstrating our strong growth profile and underscoring our ability to capture emerging demand trends. Our results this quarter exceeded our expectations and capped off a very successful year for RLJ where we achieved top quartile RevPAR growth of 9%, driven by our urban portfolio and strong performance from our conversions.