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| Jeffrey H. Fisher |
PALM BEACH, Fla., August 5, 2014—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, today announced results for the
quarter ended June 30, 2014.
In
addition, the company increased its guidance for the remainder of 2014 to
reflect recent acquisitions and strong business fundamentals.
“2014 is shaping up
to be a terrific year for Chatham as we followed up a great first quarter with
a phenomenal second quarter which produced industry-leading RevPAR growth of
9.6 percent, further driving expansion of our already industry leading margins
by 350 basis points to 43.6 percent,” emphasized Jeffrey H. Fisher,
Chatham’s president and chief executive officer.
“Continuing a
pattern from the first quarter, 13 of our 29 hotels, or 45 percent of our
portfolio, produced double-digit RevPAR gains, reinforcing our acquisition
strategy of focusing on specific markets where economic growth is strong.
Anaheim, Boston, Dallas, Houston, Nashville, San Antonio and Silicon Valley
were our strongest markets in the 2014 second quarter.
“Almost 90 percent
of our portfolio is in higher growth west coast, northeast and Texas markets,
allowing us to outperform our RevPAR guidance of 7-8 percent.”
For a complete copy of the company’s news release, please
contact:
Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
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