 |
| Jeffrey H. Fisher |
WEST PALM BEACH, FL —Chatham
Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that
invests in upscale, extended-stay hotels and premium-branded, select-service
hotels and owns 133 hotels wholly or through joint ventures, today announced
results for the first quarter ended March 31, 2016. In addition, the company
updated its guidance for 2016.
“Fueled by high-quality
acquisitions made in 2015, Chatham grew adjusted FFO per share 15 percent in
the 2016 first quarter. We are gratified
to deliver double digit growth this quarter,” said Jeffrey H. Fisher, Chatham’s president and chief executive officer.
“With our updated guidance, we remain on track to deliver solid FFO per share
growth in 2016, even though RevPAR increases for the industry are moderating.
“Chatham delivered RevPAR
growth in-line with industry performance, and our operating results were
towards the upper end of our guidance range,” Fisher noted. “Like most other
lodging REITs, top-line growth is slowing, not surprising given the significant
growth we have experienced over the past several years, the calendar shift for
the Easter holiday, as well as the fact that for the first time since the
fourth quarter of 2009, industry supply growth outpaced demand growth.”
For a complete copy of the company’s news release,
please contact:
Patrick Daly
Office Manager
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
No comments:
Post a Comment