RLJ Lodging Trust (NYSE: RLJ) has announced the retirement of Sean M. Mahoney, the company's Executive Vice President and Chief Financial Officer. Mahoney has been with the company for seven years and has had a dynamic career spanning over 30 years, including more than 20 years in the hospitality REIT industry.
Under Mahoney's leadership, RLJ's balance sheet is strong, and the company is well-positioned for the future. The company has credited him with being instrumental to their success, particularly during a pivotal time of portfolio transformation and repositioning.
As of now, Mahoney will continue to serve as the company's CFO until his departure in May, and will actively support the company's transition plan, followed by remaining available as an advisor as needed. RLJ has a succession process underway, and an update will be provided once it has concluded.
RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns premium-branded, rooms-oriented, high-margin, urban-centric hotels located within the heart of demand locations. The company's hotels are geographically diverse and concentrated in major urban markets that provide multiple demand generators from business, leisure, and other travelers.
It is important to note that the press release contains forward-looking statements, including estimates, projections, and statements relating to the company's business plans, objectives, and expected operating results. The market has reacted to these announcements by moving the company's shares -0.8% to a price of $8.89. For the full picture, make sure to review RLJ Lodging Trust's 8-K report.
