First Black woman to lead a listed REIT, Leslie Hale earns $8.4 million from RLJ trust

Omokolade Ajayi -

African-American executive Leslie D. Hale (Leslie Hale), the president and CEO of the esteemed hotel real estate investment trust (REIT) RLJ Lodging Trust, received a total compensation package of $8.35 million in 2022.

Her compensation package, though substantial, marks a 48.75-percent decrease from the previous year’s $16.3-million reward, indicating the evolving landscape of executive compensation in the industry.

Hale’s compensation for 2022 includes a base salary of $840,000, underscoring her pivotal role in the company’s financial performance that year. Additionally, she received a performance-based short-term incentive of $1.66 million. In recognition of her dedication to RLJ Lodging Trust, she also received a long-term incentive award of $5.8 million.

Hale, who boasts a distinguished career spanning nearly three decades in finance, real estate, and hospitality, has played a pivotal role in the growth and expansion of RLJ Trust in recent years. Her journey at the helm of the organization started with her appointment as chief financial officer in 2007, followed by chief operating officer in 2016, and eventually, she assumed the role of CEO in 2018.

Record revenue: RLJ Lodging Trust achieves $5.15 billion in 2022

Under Hale’s leadership, RLJ Lodging Trust achieved remarkable financial milestones in 2022. The company’s revenue surged by an impressive 51.93 percent, climbing from $785.6 million in 2021 to $1.19 billion in 2022. While total assets saw a slight dip from $5.15 billion in 2021 to $4.98 billion in 2022.

RLJ Lodging Trust’s stellar financial performance under Hale’s guidance has solidified its status as one of the largest publicly listed Black-owned businesses in the United States, further reinforcing its reputation as a powerhouse in the real estate industry.

Apart from her executive and governance roles, Hale owns a 0.94-percent minority stake in the leading REIT, equivalent to 1,485,503 shares valued at $14.23 million.

Her leadership and contributions to RLJ Lodging Trust’s success stand as a testament to her significance in the real estate investment sector, and her compensation package mirrors the group’s recognition of her pivotal role in driving growth and profitability.