RLJ Lodging Trust

Our Company is a Maryland real estate investment trust (REIT) that owns primarily premium-branded, rooms-oriented, high-margin, focused-service, and compact full-service hotels. These hotels are located in demand-heavy areas. The company is one of the largest U.S. publicly-traded lodging REITs by both number of hotels and number of rooms. Its hotels are concentrated in markets with multiple demand generators and attractive long-term growth prospects. As of December 31, 2025, the company owned 93 hotel properties with approximately 20,800 rooms, located in 23 states and the District of Columbia. Through wholly-owned subsidiaries, it owned a 100% interest in 91 hotel properties, a 95% controlling interest in one hotel property, and a 50% non-controlling interest in an entity owning one hotel property. The company consolidates its real estate interests in the 92 hotel properties where it holds a controlling financial interest and uses the equity method of accounting for the one hotel property with an indirect 50% non-controlling interest. It leases 92 of the 93 hotel properties to its TRSs, in which it owns a controlling financial interest. The company is taxed as a REIT for U.S. federal income tax purposes. Substantially all assets, liabilities, and operations are held and conducted through the Operating Partnership, where the company is the sole general partner. As of December 31, 2025, the company owned 99.5% of the OP units in the Operating Partnership through direct and indirect interests.