Print Page  Close Window

SEC Filings

RLJ LODGING TRUST filed this Form 8-K on 08/07/2018
Entire Document
 << Previous Page | Next Page >>

Net cash flow from operating activities totaled $195.8 million for the six months ended June 30, 2018, representing a 38.3% increase over the comparable period in 2017.

Balance Sheet
As of June 30, 2018, the Company had $382.5 million of unrestricted cash on its balance sheet, $350.0 million available on its revolving credit facility, and $2.5 billion of debt outstanding.

The Company’s ratio of net debt to Adjusted EBITDA for the trailing twelve-month period ended June 30, 2018, was 3.9x.

The Company’s Board of Trustees declared a cash dividend of $0.33 per common share of beneficial interest in the second quarter. The dividend was paid on July 13, 2018, to shareholders of record as of June 29, 2018.

The Company's Board of Trustees declared a preferred dividend of $0.4875 on its Series A cumulative convertible preferred shares. The dividend was paid on July 31, 2018, to shareholders of record as of June 29, 2018.

Subsequent Events
On July 13, 2018, the Company sold the Embassy Suites Napa Valley for $102.0 million and paid off $25.9 million in outstanding first mortgage associated with the asset.

On July 20, 2018, the Company paid down its revolving credit facility by $75.0 million. Following the payment, the remaining outstanding balance on the revolving credit facility was $175.0 million.

2018 Outlook
The Company’s outlook includes all hotels owned as of August 7, 2018. Potential future acquisitions or dispositions could result in a material change to the Company’s outlook. The 2018 outlook is also based on a number of other assumptions, many of which are outside the Company’s control and all of which are subject to change.

The Company's 2018 outlook revisions only reflect the sale of the Embassy Suites Napa Valley. No other adjustments have been made.

For the full year 2018, the Company anticipates:
Current Outlook
Prior Outlook
Pro forma RevPAR growth
-0.5% to +1.0%
-0.5% to +1.0%
Pro forma Hotel EBITDA Margin
31.25% to 32.5%
31.25% to 32.5%
Pro forma Consolidated Hotel EBITDA
$555M to $586M
$562M to $593M
Adjusted EBITDA
$519M to $550M
$524M to $555M
Corporate Cash General & Administrative
$37M to $39M
$37M to $39M


 << Previous Page | Next Page >>