RLJ Lodging Trust Releases Financial Results After IPO in Second Quarter 2011
Bethesda-based RLJ Lodging Trust (NYSE: RLJ) the real estate investment trust ( REIT ) that completed an initial public offering (IPO) in May 2011-- reported its second quarter 2011 results.
Total revenue for the quarter amounted to $211.5 Million, which beat analyst average estimates of $202.85 Million.
That total revenue was much higher than a disclosed second quarter 2010 amount of $139.4 Million
But RLJ Lodging Trust posted a net loss of $2.57 Million or $-0.03 cents per basic and diluted common share which was far below analyst average estimates of a net income of $0.13 cents per share. That compared to a net income of $14.7 Million in the prior quarter 2010.
KeyBanc Capital Mkts placed a hold position on the stock June 21, 2011.
Cash and cash equivalents totaled $362.56 Million as of June 30, 2011.
In August 5, 2011 RLJ completed a transfer of the New York LaGuardia Airport Marriott to Capmark Financial Group.
RLJ Lodging Trust is part of the RLJ Companies, a conglomerate of Founder and CEO Robert Louis Johnson who sold Black Entertainment Television (BET) to Viacom in 2000 for $3 Billion. RLJ Lodging Trust has 139 hotel properties all over the world including six in the Maryland and Washington, D.C. areas.
Washington Airport Hotels - News
In August 5, 2011 RLJ completed a transfer of the New York LaGuardia Airport Marriott to Capmark Financial Group. RLJ Lodging Trust is part of the RLJ Companies, a conglomerate of Founder and CEO Robert Louis Johnsonwho sold Black Entertainment
A Crowne Plaza by the airport might have more charm. Nothing about the subterranean theater says "DC comedy club"; you'd have to peer out the plate-glass windows of the ground-floor bar to remember you're in Washington. Hotel bars can be great.
That could be seen in two major airport-related projects that have yet to take off. Though Hirschi couldn't yet discuss the details of those projects, he said their Washington County debut has indeed taken longer than expected.
He is due to speak at the reception at the luxurious Ritz-Carlton hotel and then attend a dinner for 50 at a private home with the crème dela crème of society. The $35800 admission price is the legal maximum per person. Obama's campaign keeps $5000 and
The Gross family, which owns Granite Broadway Development, owns five Marriott hotels, one in Philadelphia; one in Ghent, Belgium; and three in New York: the Courtyard New York JFK Airport, the Courtyard New York Manhattan/Times Square South and the
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