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| Courtyard by Marriott Houston Medical Center |
PALM BEACH, FL, Feb.
6, 2013—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment
trust (REIT) focused on upscale extended-stay hotels and premium- branded,
select-service hotels, today announced that it has acquired the three-year-old Courtyard
by Marriott Houston Medical Center hotel in Houston, Texas for $34.75
million.
The company funded the acquisition under its secured
revolving credit facility.
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| Jeffrey H. Fisher |
The eight-story, 197-room hotel, including six suites, is
located at 7702 Main Street, adjacent to the world’s largest medical complex,
the Texas Medical Center.
Jeffrey H. Fisher, Chatham’s chief executive officer.
said “this property matches up exactly with our strategy of acquiring
premium–branded, upscale extended stay and select-service hotels in high demand
markets that command high daily rates and revenue.
“The versatile hotel is perfectly suited for business,
leisure and health-care segments. With
our Hampton Inn Medical Center hotel right around the corner, we know
the market very well and see significant opportunities to maximize revenue and
cost efficiencies.”
For a complete copy of the company’s news release, please
contact:
Jerry Daly
Daly Gray Public Relations
(703) 435-6293
Dennis Craven
Chief Financial Officer
(561) 227-1386
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