BANK OF AMERICA

GLOBAL REAL ESTATE

CONFERENCE

SEPTEMBER 2023

RLJ | INVESTMENT HIGHLIGHTS

RLJ's portfolio is well-positioned to capture recovery in urban demand and to capitalize on unique internal and external opportunities to drive 2023 EBITDA growth

URBAN MARKET

GROWTH

INTERNAL

GROWTH

CATALYSTS

EXTERNAL

GROWTH

CATALYSTS

STRONG

BALANCE

SHEET

HIGH-QUALITY

PORTFOLIO

Urban markets expected to drive industry growth

  • Urban markets represent over two-thirds of RLJ's portfolio
  • Urban market performance continues to outpace the broader industry in Q3

Completed 2022 transformative conversions and launched 2023 conversions

  • The Mills House and Zachari Dunes joined Hilton's Curio Collection; The Pierside in Santa Monica launched as an independent
  • 2023 Conversions include Hotel Tonnelle New Orleans, a Tribute Portfolio Hotel; the DoubleTree by Hilton Houston Medical Center; and, 21c Museum Hotel Nashville joining Hilton's Tapestry Collection

Acquired four high-quality, young assets in top growth markets since 2021

  • Acquisitions performing above RLJ's underwriting
  • Continue to maintain acquisition pipeline and ability to execute all-cash transactions

~$1.1B of liquidity available for internal and external growth initiatives

  • During Q2, repurchased $25.5 million of common shares on a leverage neutral basis
  • Following $825M of recent refinancings, have no maturities until 2024 and 93% of debt is fixed/hedged

High-quality portfolio with an attractive growth profile

  • Urban-centricportfolio growth expected to exceed the Industry
  • Lean operating model and efficient footprint with fewer FTEs than full-service properties

SEPTEMBER 2023

2

OPERATING PERFORMANCE & OUTLOOK

THE MILLS HOUSE HOTEL CHARLESTON

SEPTEMBER 2023

3

OPERATING PERFORMANCE | CURRENT 2023 & OUTLOOK

Urban hotel performance continues to outpace the overall portfolio

Q3 quarter-to-date RevPAR (July-August), up ~2.4%

  • Occupancy and ADR growth of 1.3% and 1.1% respectively, over last year

RevPAR growth in Urban markets continue to outperform the overall portfolio

  • Urban markets benefitting from improving business transient and international demand, strong group and "Bleisure" demand
  • Positive demand / supply dynamics in urban markets

Group pace for Q3 exceeding 2019 levels

  • Q3 group revenues at 103% of 2019 levels and significantly ahead of last year
  • Full-yeargroup pace at 97% of 2019 levels

Urban leisure seeing robust demand, with resorts continuing to normalize

  • Weekend RevPAR growth over last year in Urban markets ahead of portfolio by 100 bps in July - August

Updated Q3 Outlook

  • Given recent weather events and other factors, project Hotel EBITDA to be between the midpoint and low-end of outlook range

SEPTEMBER 2023

4

WEEKLY TRENDS | OCCUPANCY

Occupancy improved with seasonal trends continuing

RLJ Weekly Occupancy vs % of 2019 (1)

100%

Total Portfolio

Total Portfolio as % of 2019

120%

July 4th

Labor Day

Memorial Day

90%

MLK Day

President's Day

Easter

100%100%

80%

80%

70%

NYE

68%

60%

60%

50%

40%

40%

20%

30%

Jan. 14

Jan. 21

Jan. 28

Feb. 18 Feb. 25 Mar. 4 Mar. 11

Mar. 18

Mar. 25

Apr. 1

Apr. 8 Apr. 15

May 13

May 20

May 27

Jun. 10

Jun. 17

Jun. 24

Jul. 1

Jul. 8

Aug. 12

Aug. 19

Aug. 26

0%

Jan. 7

Feb. 4

Feb. 11

Apr. 22

Apr. 29

May 6

Jun. 3

Jul. 15

Jul. 22

Jul. 29

Aug. 5

Sep. 2

(1) As of week ending September 2, 2023; for comparable hotels; results excludes the Chateau LeMoyne-French Quarter New Orleans, which is a fully unconsolidated hotel. Unaudited, for comparison purposes only.

SEPTEMBER 2023

5

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Disclaimer

RLJ Lodging Trust published this content on 12 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2023 12:05:01 UTC.