RLJ Lodging Trust Announces Amendment to Senior Unsecured Credit and Term Loan Facility

RLJ Lodging Trust (the "Company”) (NYSE: RLJ), today announced it has successfully amended its $600 million senior unsecured revolving credit facility ("Line of Credit”) and its $400 million term loan facility ("Term Loan”). These amendments will improve the Company’s maturity profile, provide additional covenant flexibility and reduce the weighted average interest rate on these facilities.

"We continue to prudently manage our balance sheet by taking advantage of favorable debt markets and our strong lending relationships to extend our maturities, obtain attractive pricing and add incremental flexibility,” commented Leslie D. Hale, President and Chief Executive Officer. "With a fortress balance sheet and added flexibility, we are well-positioned to continue to pursue our growth plan and allocate capital accretively.”

The Line of Credit’s initial maturity date was April 2020 and the Term Loan’s maturity date was April 2021. The maturity date for the Line of Credit was extended to May 2024 and can be extended for an additional year. The maturity date for the Term Loan was extended to May 2025.

The amendments provide the Company with additional flexibility to optimize its balance sheet and pursue capital allocation opportunities. The Company’s debt maturities remain well staggered with no debt maturities until 2022.

About Us:

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels.

Forward Looking Statements

This press release contains certain statements, other than purely historical information, including estimates, projections, statements relating to the Company’s business plans, objectives and expected operating results, and the assumptions upon which those statements are based, that are "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the use of the words "believe,” "project,” "expect,” "anticipate,” "estimate,” "plan,” "may,” "will,” "will continue,” "intend,” "should,” or similar expressions. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs, and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and the Company’s actual results could differ materially from those set forth in the forward-looking statements. Some factors that might cause such a difference include the following: the current global economic uncertainty, increased direct competition, changes in government regulations or accounting rules, changes in local, national, and global real estate conditions, declines in the lodging industry, seasonality of the lodging industry, risks related to natural disasters, such as earthquakes and hurricanes, hostilities, including future terrorist attacks or fear of hostilities that affect travel, the Company’s ability to obtain lines of credit or permanent financing on satisfactory terms, changes in interest rates, access to capital through offerings of the Company’s common and preferred shares of beneficial interest, or debt, the Company’s ability to identify suitable acquisitions, the Company’s ability to close on identified acquisitions and integrate those businesses, and inaccuracies of the Company’s accounting estimates. Given these uncertainties, undue reliance should not be placed on such statements. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. The Company cautions investors not to place undue reliance on these forward-looking statements and urges investors to carefully review the disclosures the Company makes concerning risks and uncertainties in the sections entitled "Risk Factors,” "Forward-Looking Statements,” and "Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report, as well as risks, uncertainties, and other factors discussed in other documents filed by the Company with the Securities and Exchange Commission.

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