Tuesday, May 8, 2012

Chatham Lodging Trust Announces Strong First Quarter Results; Increases Quarterly Dividend 14 Percent to 20 Cents per Common Share

  

  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, today announced results for the quarter ended March 31, 2012. 

In addition, the company announced that its board of trustees approved a 14 percent increase in Chatham’s quarterly dividend to 20 cents per common share.

First Quarter 2012 Highlights

  • ·         Comparable Hotel RevPAR – Increased 12.5 percent to $98 for Chatham’s 18-hotel portfolio.

  • ·         Comparable Hotel EBITDA – Improved 29.1 percent to $7.9 million.

  • ·         Comparable Hotel EBITDA Margins – Advanced 440 basis points to an industry-leading 35.1 percent.

  • ·         Comparable GOP Margins – Increased 390 basis points to industry-leading GOP margins of 42.4 percent.

  • ·         Adjusted FFO – Improved adjusted FFO per diluted share 61.5 percent to $0.21.

  • ·         Joint Venture Portfolio– Exceeded internal budget expectations for RevPAR, EBITDA and NOI performance. Received distributions of $13.1 million, or 35.4 percent, of Chatham’s initial investment in the joint venture (JV).
 For a complete copy of the company’s news release and statistics, please contact:

Dennis Craven (Company)                                                    
Chief Financial Officer                                                                       
(561) 227-1386                                                                     

Jerry Daly (Media)
Daly Gray, Inc.
(703) 435-6293

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

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