PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in premium branded upscale extended-stay hotels and select-service hotels, announced results for the quarter ended December 31, 2011.
In addition, the company outlined its strategic growth plan designed to increase FFO by approximately 50 percent in 2012.
“2011 was a banner year as we successfully executed our business plan of building a high quality hotel portfolio that generates strong operating results and provides meaningful cash dividends,” said Jeffrey H. Fisher (top right photo), Chatham’s chief executive officer and president.
“In 2011, our hotel investments dramatically increased nearly 150 percent from $210 million to $510 million.
“We assembled a great portfolio of hotels with 65 percent of our properties located in metropolitan New York City, Southern California and Washington D.C., all markets with high barriers to new competition. Our hotels produced strong results, with adjusted FFO per share increasing approximately 68 percent from $0.53 in 2010 to $0.89 in 2011.
For a complete copy of the company’s news release and statistics, please contact:
Dennis Craven (Company) Jerry Daly or Carol McCune
Chief Financial Officer Daly Gray (Media)
(561) 227-1386 (703) 435-6293
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