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RLJ Lodging Trust
RLJ Lodging Trust, co-founded by Robert L. Johnson, owns nearly 100 premium-branded hotels and operates as a self-advised lodging REIT.
RLJ Lodging Trust
Robert L. Johnson and Thomas J. Baltimore Jr. launched RLJ Lodging Trust in 2011, merging their private hotel investment platform with a public vehicle. Johnson, the founder of BET and RLJ Companies, brought the capital-formation network; Baltimore, who served as co-CEO at launch, brought the hospitality-operating discipline. The trust went public on the New York Stock Exchange, and by 2013 Baltimore had departed to lead Park Hotels & Resorts. Today the trust trades as a standalone lodging REIT under symbol RLJ. The portfolio targets premium-branded, rooms-focused hotels with limited food-and-beverage exposure, favoring high-margin operations in markets with multiple demand drivers. Flags include Marriott, Hilton and Hyatt banners — Courtyard, Residence Inn, AC Hotels, Hyatt Centric and Hilton Garden Inn among them — spread across urban cores and dense suburban submarkets. In 2023 the trust sold a legacy portfolio of lower-growth assets and recycled capital into higher-RevPAR properties in markets such as Nashville and San Diego, per the firm's official communications. RLJ owns 96 hotels totaling roughly 21,000 rooms across 24 states and the District of Columbia. Corporate headquarters remain in Bethesda, Maryland. The board includes Johnson as Executive Chairman, Leslie D. Hale as President and CEO, and a majority-independent set of directors with backgrounds in institutional real estate and finance. In 2021 the trust completed a restructuring of its board governance, reducing the size of the board and adding new independent directors with REIT-operating expertise. RLJ operates as a self-advised and self-administered REIT, rather than an externally managed one — a structure that aligns management and shareholder interests differently than much of the hotel-REIT universe. That internal-management architecture means the executive team both sources and asset-manages the hotels directly rather than paying fees to an outside advisor, giving RLJ more control over capital-allocation timing and value-creation levers than many of its peers.
General information
Firm type
Asset Manager
Year founded
2011
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bethesda
Corporate office
Bethesda, MD, United States
Principals
Robert L. Johnson
Co-Founder and Chairman
Leslie D. Hale
President and Chief Executive Officer
Sector focus
Frequently asked questions
Who founded RLJ Lodging Trust and what is its origin?
RLJ Lodging Trust was co-founded by Robert L. Johnson, the founder of Black Entertainment Television, and Thomas J. Baltimore Jr. The trust was formed in 2011 through the merger of their existing private hotel investment platform and a public acquisition vehicle. Johnson remains Executive Chairman of the board.
How is RLJ Lodging Trust structured?
RLJ is a self-advised and self-administered publicly traded real estate investment trust listed on the New York Stock Exchange under the ticker RLJ. Unlike externally managed REITs, RLJ's executive team directly sources, acquires, and asset-manages its hotel portfolio rather than paying management fees to an outside advisor.
What types of hotels does RLJ typically own?
The trust concentrates on premium-branded, select-service and compact full-service hotels with limited food-and-beverage operations. Portfolio flags include Marriott, Hilton, and Hyatt brands — Courtyard by Marriott, Residence Inn, AC Hotels, Hyatt Centric, and Hilton Garden Inn among them. The strategy favors higher-margin, rooms-focused assets in urban and dense suburban markets with multiple demand drivers.
Who are the key investment decision-makers at RLJ?
Investment and operational decisions are led by President and CEO Leslie D. Hale, who oversees the executive management team. Robert L. Johnson serves as Executive Chairman and remains involved at the board level. The board includes a majority of independent directors with institutional real estate and REIT-operating experience.
Where does RLJ's portfolio concentrate geographically?
RLJ owns hotels across 24 states and the District of Columbia, with concentrations in urban gateway markets and high-growth Sunbelt submarkets. Recent capital recycling has shifted weight toward markets such as Nashville and San Diego, per the firm's official communications.
What is RLJ's posture on asset recycling and portfolio turnover?
RLJ actively manages its portfolio through dispositions of lower-growth, non-core assets and redeployment into higher-RevPAR properties. In May 2023 the trust sold six hotels for approximately $101 million and used proceeds to acquire assets in urban markets with stronger demand recovery trajectories.
What role does Robert L. Johnson play at RLJ Lodging Trust today?
Robert L. Johnson serves as Co-Founder and Executive Chairman of the board. He was the founding capital partner alongside Thomas J. Baltimore Jr., and his broader holding company, RLJ Companies, remains the trust's namesake and origin platform. Day-to-day management is led by CEO Leslie D. Hale.
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