RLJ Lodging Trust is one of the largest U. S. publicly traded lodging real estate investment trusts (REITs) in terms of both number of hotels and number of rooms. We seek to generate strong returns long-term for our shareholders by acquiring, owning and operating primarily premium-branded, focused-service and compact full-service hotels in markets that exhibit multiple demand generators and attractive long-term growth prospects. We seek to acquire hotel properties at prices where we believe we can enhance value by pursuing proactive invest- ment strategies such as renovation, repositioning or rebranding. To enhance quality and attrac- tiveness, increase long-term value and generate attractive returns on investment, we actively monitor and advise our third-party management companies on key aspects of our hotels’ operations, including property positioning, physical design, capital planning and investment, guest experience and overall strategic direction.