RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that Sean M. Mahoney will join the Company as Executive Vice President, Chief Financial Officer and Treasurer, effective August 1, 2018. Mr. Mahoney will report directly to Leslie D. Hale, the Company’s incoming President and Chief Executive Officer.
“We are excited to welcome Sean to the RLJ team. Sean is a seasoned REIT executive with broad industry experience and deep financial knowledge with a proven track record of prudent balance sheet management. He is well-respected by the investment community and will be a great addition to RLJ,” stated Leslie D. Hale.
Mr. Mahoney recently served as Executive Vice President, Chief Financial Officer and Treasurer of DiamondRock Hospitality Company (NYSE:DRH), a lodging real estate investment trust, from September 2008 through March 2018. In this role, Mr. Mahoney led the finance and accounting teams, oversaw all capital markets activity, and played an active role in corporate strategy and planning, investor relations, acquisition and dispositions, and risk management. Earlier in his career, Mr. Mahoney worked in the audit practices of Arthur Andersen, KPMG and Ernst & Young. Mr. Mahoney received a B.S. in accounting from Syracuse University in 1993.
About RLJ
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust focused on acquiring premium-branded, focused-service and compact full-service hotels. The Company’s portfolio consists of 154 hotels with approximately 30,000 rooms located in 26 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.
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,” “may” 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 urge 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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Contacts:
Leslie D. Hale, 301-280-7774
Chief
Operating Officer and Chief Financial Officer
