Chatham Lodging Trust Announces Strong 2013 Third Quarter Results

PALM BEACH, FL—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) that owns wholly or through its joint ventures 76 premium-branded, upscale, extended-stay and select-service hotels

announced results for the third quarter ended September 30, 2013.

Third Quarter 2013 Highlights

·         Comparable Hotel RevPAR – Grew hotel RevPAR 6.7 percent, excluding the Washington, D.C. hotel which was being renovated/rebranded throughout the entire quarter.

·         Portfolio RevPAR - Rose 3.9 percent to $119 for the 21 hotels owned for the entire quarter.   

·         Adjusted EBITDA – Increased 30.2 percent to $15.6 million.

·         Adjusted FFO – Improved 70.6 percent to $10.8 million.  Adjusted FFO per diluted share rose 4.3 percent to $0.48 from $0.46, exceeding consensus estimates.

·         Equity Offerings Completed – Raised a total of $142.7 million in June and September to fund the acquisitions of four, high-quality hotels comprising 700 rooms for $156 million and enhanced capacity to make incremental, value-add acquisitions.

·         Innkeepers Refinancing –Completed $950 million refinancing for JV portfolio.  90.2 percent of original invested capital returned via distributions. 

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

Dennis Craven (Company)                                                    

Chief Financial Officer                                                       

(561) 227-1386                                                                      

 Jerry Daly

Daly Gray, Inc.

(Media)

(703) 435-6293