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| Jeffrey H. Fisher |
PALM BEACH, FL -- Chatham Lodging Trust (NYSE:CLDT), a hotel
real estate investment trust (REIT) that owns wholly or through its joint
ventures 77 premium-branded, upscale, extended-stay and select-service hotels, announced results for the quarter ended March 31, 2014.
Growth was strong across the portfolio, including RevPAR at
hotels acquired in 2013 rising 7.0 percent and RevPAR at our recently rebranded
Washington, D.C. Residence Inn jumping 57.3 percent after a decline of 34.7
percent last year.
“It has been a great start to the year with RevPAR growth of
7.8 percent driven by 11 of our 25, or 44 percent, of our hotels producing
double-digit improvements,” noted Jeffrey H. Fisher, Chatham’s president
and chief executive officer.
“Particularly strong markets for us in the quarter were
Anaheim, Boston, Denver, Houston, Nashville and Orlando. First quarter revenue
outperformed our guidance of 3-4 percent with RevPAR growth strengthening
throughout the quarter after moderate growth of 4 percent in January.”
For a complete
copy of the company’s news release, please contact:
Chatham Lodging Trust
Dennis Craven, 561-227-1386
Chief Financial Officer
or
Media:
Daly Gray, Inc.
Chris Daly, 703-435-6293
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