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RLJ Lodging Trust (RLJ) Q3 2025 Earnings
Reported Nov 5, 2025 at 4:49 PM ET · SEC Source
Q3 25 EPS
$-0.07
BEAT +12.50%
Est. $-0.08
Q3 25 Revenue
$330.0M
BEAT +1.72%
Est. $324.5M
vs S&P Since Q3 25
+67.1%
BEATING MARKET
RLJ +78.6% vs S&P +11.5%
Market Reaction
Did RLJ Beat Earnings? Q3 2025 Results
RLJ Lodging Trust navigated a difficult third quarter, posting results that edged past analyst expectations even as the lodging REIT swung to a net loss amid persistent operational headwinds. The company reported an EPS loss of $0.07, a 12.50% beat v… Read more RLJ Lodging Trust navigated a difficult third quarter, posting results that edged past analyst expectations even as the lodging REIT swung to a net loss amid persistent operational headwinds. The company reported an EPS loss of $0.07, a 12.50% beat versus the consensus estimate of $0.08, while revenue of $330.05 million topped the $324.46 million forecast by 1.72%, though revenue still fell 4.5% year-over-year. The primary culprit was a 5.1% decline in Comparable RevPAR to $138.51, weighed down by three ongoing transformative hotel renovations and the closure of the Austin Convention Center, factors that together accounted for roughly 200 basis points of negative RevPAR pressure. Adjusted EBITDA dropped 21.0% to $72.58 million and Adjusted FFO declined 32.8% to $41.10 million, or $0.27 per diluted share. Looking ahead, management trimmed its full-year 2025 outlook, now guiding for Comparable RevPAR growth of -2.6% to -1.9% and Adjusted FFO per diluted share of $1.31 to $1.37, citing the ongoing government shutdown's dampening effect on travel demand, while pointing to a more constructive setup heading into 2026.
Key Takeaways
- • Comparable RevPAR declined 5.1% due to difficult prior year comparisons, softer citywide calendars, and impact from three transformative renovations and Austin Convention Center closure (approximately 200 basis points negative impact)
- • Comparable occupancy declined 3.1% to 73.0%
- • Comparable ADR declined 2.1% to $189.74
- • Out-of-room revenues grew 1.3% driven by ROI initiatives
- • RevPAR trends improved sequentially each month of the quarter
- • Disciplined cost containment contributed to bottom-line results
RLJ YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
RLJ Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our third quarter results were consistent with our expectations and reflect the resiliency of our portfolio and lean operating model amid a choppy backdrop. Despite the lower occupancy environment, we were pleased to achieve continued growth in out-of-room spend, highlighting the success of our ROI initiatives, which combined with our disciplined cost control efforts contributed to our solid bottom-line results. During the quarter, we continued to advance our conversion pipeline as well as our transformative renovations, further positioning our portfolio to unlock embedded value.”
— Leslie D. Hale, Q3 2025 Earnings Press Release
RLJ Earnings Trends
RLJ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RLJ EPS Trend
Earnings per share: estimate vs actual
RLJ Revenue Trend
Quarterly revenue: estimate vs actual
RLJ Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.08 | $0.33 | +512.50% | $340.0M | +4.85% |
| Q4 25 BEAT FY | $-0.07 | $-0.04 | +44.83% | $328.6M | +3.35% |
| FY Full Year | — | $0.01 | — | $1.35B | — |
| Q3 25 BEAT | $-0.08 | $-0.07 | +12.50% | $330.0M | +1.72% |
| Q2 25 BEAT | $0.13 | $0.48 | +284.00% | $363.1M | -0.50% |