Saturday, May 10, 2014

Chatham Lodging Trust Announces 7.8 Percent First Quarter RevPAR Increase


Jeffrey H. Fisher
PALM BEACH, FL -- Chatham Lodging Trust (NYSE:CLDT), a hotel real estate investment trust (REIT) that owns wholly or through its joint ventures 77 premium-branded, upscale, extended-stay and select-service hotels, announced results for the quarter ended March 31, 2014.

Growth was strong across the portfolio, including RevPAR at hotels acquired in 2013 rising 7.0 percent and RevPAR at our recently rebranded Washington, D.C. Residence Inn jumping 57.3 percent after a decline of 34.7 percent last year.

“It has been a great start to the year with RevPAR growth of 7.8 percent driven by 11 of our 25, or 44 percent, of our hotels producing double-digit improvements,” noted Jeffrey H. Fisher, Chatham’s president and chief executive officer.

“Particularly strong markets for us in the quarter were Anaheim, Boston, Denver, Houston, Nashville and Orlando. First quarter revenue outperformed our guidance of 3-4 percent with RevPAR growth strengthening throughout the quarter after moderate growth of 4 percent in January.”

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

Chatham Lodging Trust
Dennis Craven, 561-227-1386
Chief Financial Officer
or
Media:
Daly Gray, Inc.
Chris Daly, 703-435-6293


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