RLJ believes Mr. McCarthy will add immediate value in overseeing and
guiding RLJ’s strategies for unlocking value. Prior to becoming the
Chairman of
In addition to serving as Chairman of HDP, Mr. McCarthy is an investor
and board member of MeetingPlay, a technology company serving the
hospitality industry. He is also a partner and an advisor in Armature
Works, a
“We are delighted to welcome
“Over the last seven years, I have watched RLJ establish itself as a premier lodging REIT in the industry,” said Mr. McCarthy. “It will be a privilege to put my decades of lodging operations, marketing and brand experience to work on behalf of the Company and shareholders, and to serve alongside such a talented and engaged group of trustees.”
“As a Board, we are always looking for world-class individuals to
complement the diverse and strategically relevant skillsets represented
on our Board, and Bob is an example of the high standards we set,” said
Senator
Mr. McCarthy’s appointment increases the size of the Company’s Board from eight to nine members. Recent shareholder-aligned actions at RLJ include adding new independent Trustees to the Board of Trustees, providing investors with a clear strategic roadmap and associated timeframes for unlocking value, appointing a new senior vice president of corporate strategy and investor relations and a new executive vice president of asset management (each reporting to our Chief Operating Officer), working closely with our Trustees to ensure strong shareholder engagement practices, implementing majority voting for Trustee elections, granting shareholders the right to amend the Company’s bylaws, and adopting performance-based equity award programs under which payouts are based on satisfying both absolute and relative total shareholder return metrics.
About
Mr. McCarthy has served as the Chairman of HDP since March of 2014. From
1975 until his retirement in 2014, Mr. McCarthy worked for
Mr. McCarthy holds a bachelor’s degree in Business Administration from
About Us
For additional information or to receive press releases via email, please visit our website: http://rljlodgingtrust.com
Forward-Looking Statements
This 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20180213005913/en/
Source:
RLJ Lodging Trust
Leslie D. Hale, 301-280-7774
Chief Operating
Officer and Chief Financial Officer