RLJ Companies

The RLJ Companies is an American asset management firm owned by entrepreneur Robert Louis Johnson.[2][3][4][5][6] After selling Black Entertainment Television in 2001, Johnson's first company, he created RLJ Companies in Bethesda, Maryland.[7][8][9] The company's network includes hotel real estate investment, private equity, financial services, asset management, insurance services, car dealerships, sports and entertainment, and video lottery terminal (VLT) gaming.[4][10] The company is headquartered in Bethesda and has additional offices in Charlotte, North Carolina; Little Rock, Arkansas; Los Angeles, California; San Juan, Puerto Rico, and Monrovia, Liberia.[11]

History

Robert L. Johnson founded The RLJ Companies in 2002 in Bethesda, Maryland.[7][8] Johnson is chairman of the company.[4] Previous to founding The RLJ Companies, Johnson owned BET, which he sold to Viacom in 2001.[12] He remained on at BET as its CEO through 2006.[4]

In 2001, Johnson and Tom Baltimore started RLJ Lodging Trust with six hotels.[13] RLJ Lodging Trust started as RLJ Development and changed its name when it went public on the New York Stock Exchange under RLJ on May 13, 2011.[14][15] The company operates in 21 states with 97 hotels under global brands including Courtyard by Marriott, Hilton Garden Inn, Hyatt Place and Embassy Suites Hotels.[16][17] In 2008, RLJ Companies formed a partnership with Global Building Solutions to build a 78-room luxury resort and spa in Monrovia, Liberia.[7] The RLJ Kendeja Resort & Villas opened in March 2009. Thomas J. Baltimore Jr. was president and CEO of RLJ Lodging Trust until his resignation on April 27, 2016, so that he could assume a similar role with Hilton's REIT. Ross H. Bierkan was appointed CEO on August 1, 2016.[18] Leslie D. Hale was then appointed CEO of RLJ Lodging Trust, and has remained in the position since 2018.[19]

David Rubenstein and Johnson partnered with Carlyle Group in 2006 to form RLJ Equity Partners, a middle-market equity firm.[13][20] RLJ Equity Partners invested in CVC, the largest tour operator in Latin America, in January 2010.[21] In September 2010, it partnered with Enhanced Recovery Corp to gain more presence in the Southeast.[22] It has also invested in Fleischmann's Vinegar, LAI International, TMone, Naylor and R. Thompson Trucking Inc.[22][23][24][25]

In 2014, RLJ Equity Partners acquired Naylor Association Solutions, with its headquarters in Gainesville, Florida.

Johnson collaborated with Mack McLarty and Steve Landers to create RLJ-McLarty-Landers Automotive Holdings, LLC in 2007.[26] It is the parent company for Little Rock, Arkansas based RML Automotive.[27] Johnson holds 60% of RLJ-McLarty-Landers Automotive Holdings, LLC, making it the largest minority-owned automotive dealership in the country.[13]

In response to the 2010 Haiti earthquake, Global Building Solutions collaborated with RLJ Companies to form Caribbean Opportunity Holdings in April 2010.[28]

Trading under NASDAQ as RLJAU, RLJ Acquisition was formed as a special-purpose acquisition company in December 2010 with the purpose of consummating business combinations.[29][30] H. Van Sinclair is CEO.[29]

RLJ Entertainment Inc. formed when the RLJ Companies acquired Acorn Media Group, Inc. and Image Entertainment Inc. in 2012.[13][14] It traded under the NASDAQ ticker RLJE. In 2018 it went private after being acquired by AMC Networks.[31]

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