RLJ Lodging Trust — Director's Dealing 2011

May 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLJ Lodging Trust (RLJ)
CIK: 0001511337
Period of Report: 2011-05-16

Reporting Person: Baltimore Thomas J Jr (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-16	Common Shares	D	500	$1.00	Disposed	200	Direct
2011-05-16	Common Shares	A	621910	—	Acquired	622110	Direct
2011-05-16	Common Shares	A	385000	—	Acquired	1007110	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-16	Units	$	A	156450	Acquired		Common Shares (156450)	Direct

Footnotes

F1: Represents 500 shares of beneficial interest ("common shares") that were redeemed by RLJ Lodging Trust (the "Company") in connection with the closing of the Company's initial public offering.

F2: Represents 621,910 common shares received by Mr. Baltimore in connection with the Company's formation transactions.

F3: Concurrently with the closing of the Company's initial public offering, the Company granted 385,000 restricted shares to Mr. Baltimore, vesting ratably on each of the first 16 quarterly anniversaries of the date of grant, under the Company's 2011 Equity Incentive Plan.

F4: Represents 156,450 units of limited partnership interests ("OP Units") in the operating partnership of the Company, RLJ Lodging Trust, L.P., of which the Company is the general partner, that Mr. Baltimore received in connection with the Company's formation transactions. OP Units are redeemable for an equal number of the Company's common shares, or at the election of the Company, cash equal to the fair market value of such shares. OP Units have no expiration date.