Chatham Lodging Trust Announces Third Quarter Results

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 September 30, 2012. 

In addition, the company announced that it amended its senior secured revolving credit facility to increase the line of credit to $95 million and lower costs by approximately 250 basis points.

Third Quarter 2012 Highlights

·         Hotel RevPAR – Rose 5.8 percent to $114. 

·         Adjusted EBITDA – Increased 48.5 percent, or $3.9 million, to $12.0 million.

·         Adjusted FFO – Improved adjusted FFO per diluted share 39.4 percent to $0.46, in line with consensus estimates.

·         Comparable GOP Margins – Grew 180 basis points to 46.2 percent. Five of Chatham’s 18 hotels were acquired during the 2011 third quarter.

·         Joint Venture Portfolio– Continued to exceed internal budget expectations for RevPAR and EBITDA. Received distributions of $1.7 million in the third quarter, bringing total distributions to $20.9 million or 56.5 percent of Chatham’s initial investment in the joint venture.

 For a complete copy of the company’s news release, please contact:

Dennis Craven (Company)                                                    

Chief Financial Officer                                                           

(561) 227-1386                                                                       

Jerry Daly (Media)

Daly Gray, Inc.

 (703) 435-6293