Chatham Lodging Trust Announces Record Third Quarter Results

Jeffrey H. Fisher

Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) that owns wholly or through its joint ventures 78 premium-branded, upscale, extended-stay and select-service hotels, announced results for the quarter ended September 30, 2014.  

In addition, the company updated its guidance for the remainder of 2014 to reflect recent capital markets activities and pending investments.

“Our third quarter set numerous records, with RevPAR surging 10.5 percent, well above industry growth of 9.2 percent, and our industry-leading margins accelerating another 640 basis points to 46.5 percent,” highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer.

 “These strong results enabled us to generate adjusted EBITDA and adjusted FFO per share above our and consensus expectations.  Our RevPAR performance continued its aggressive growth across our portfolio with 15 of our 30 hotels producing double-digit RevPAR gains in the third quarter.

"Boston, Dallas, Denver, Houston, Nashville, San Antonio, Seattle and Silicon Valley were our strongest markets.  

"Our Tyson’s Corner, Va., property outside of Washington D.C., showed impressive signs of recovery with third quarter RevPAR growth over 10 percent.  

For Chatham’s 29 comparable hotels, Chatham’s RevPAR since the 2010 IPO has increased more than 35 percentage points, compared to an industry growth of 30 percentage points.

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

 Dennis Craven (Company)

Chief Financial Officer

(561) 227-1386                                                                                  

                                                                  

Chris Daly (Media)

Daly Gray, Inc.

(703) 435-6293