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. Our hotels are geographically diverse and concentrated in major urban areas and dense markets that provide multiple demand generators from business, leisure and other travelers. At the same time, as a result of high construction costs and the density of these markets, these locales provide significant barriers to entry. We believe that our investment strategy presents attractive opportunities for us to acquire additional hotels with significant upside potential. Our strategy is to invest in focused-service and compact full-service hotels, which typically generate most of their revenue from room rentals, have limited food and beverage outlets and meeting space, and require fewer employees than larger hotels. We believe that such premium-branded, focused-service hotels have the potential to provide attractive risk-adjusted returns relative to larger full-service hotels due to their ability to generate higher revenue per room while providing better profit margins as a result of a more efficient operating model and less volatile cash flows. Our hotels operate under well-recognized global brands, including Courtyard by Marriott, Residence Inn by Marriott, Hilton Garden Inn, Homewood Suites by Hilton, Hyatt Place, Wyndham and Embassy Suites and we maintain strong relationships with these leading franchisors.