Wednesday, February 6, 2013

Chatham Lodging Acquires Courtyard by Marriott Houston Medical Center Hotel in Houston, TX for $34.75 Million



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.

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                                 
jerry@dalygray.com                                             
(703) 435-6293    

Dennis Craven                                               
Chief Financial Officer
(561) 227-1386 

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