STOCK TITAN

Chatham Lodging - CLDT STOCK NEWS

Welcome to our dedicated page for Chatham Lodging news (Ticker: CLDT), a resource for investors and traders seeking the latest updates and insights on Chatham Lodging stock.

Overview of Chatham Lodging Trust (CLDT)

Chatham Lodging Trust (NYSE: CLDT) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, ownership, and management of upscale extended-stay hotels. The company focuses on properties that cater to long-term business travelers, relocating families, and other guests requiring extended accommodations. By targeting this niche within the hospitality sector, Chatham Lodging addresses a growing demand for high-quality, home-like lodging solutions that combine the comfort of residential living with the amenities of traditional hotels.

Business Model and Revenue Streams

Chatham Lodging operates through a single business segment due to the consistent economic characteristics of its properties. The company generates revenue through three primary streams:

  • Room Revenue: The majority of Chatham's income comes from room bookings, particularly from extended-stay guests who typically secure accommodations for weeks or months, resulting in higher occupancy rates and stable cash flows.
  • Food and Beverage: Some properties offer dining options, contributing to ancillary revenue and enhancing the guest experience.
  • Other Revenue: This includes income from additional services such as parking, meeting spaces, and other on-site amenities.

Chatham Lodging's properties operate under globally recognized hotel brands, including Hilton, Marriott, and Hyatt. These partnerships provide access to established customer bases, loyalty programs, and operational expertise, which enhance the marketability and performance of its hotels.

Geographic Footprint

The company owns and operates upscale extended-stay hotels across key U.S. markets, including California, New York, Texas, Florida, Minnesota, Massachusetts, and Pennsylvania. These locations are strategically chosen for their strong demand drivers, such as proximity to business centers, tourist attractions, and transportation hubs. This geographic diversification helps mitigate regional economic risks and ensures a steady flow of guests.

Operational Structure

Chatham Lodging's assets are managed through its Operating Partnership, Chatham Lodging, LP, and its subsidiaries. This structure allows the company to efficiently lease and operate its properties while benefiting from the tax advantages and operational flexibility inherent in REIT models. By consolidating its operations under a single partnership, Chatham ensures streamlined management and consistent performance across its portfolio.

Competitive Landscape and Market Position

Chatham Lodging operates in a competitive segment of the hospitality industry, facing challenges from traditional hotel operators, alternative lodging platforms like Airbnb, and other extended-stay providers. However, its focus on upscale properties and partnerships with top-tier brands provide a distinct competitive advantage. Extended-stay hotels typically achieve higher average daily rates (ADRs) and longer occupancy durations compared to traditional hotels, positioning Chatham to capitalize on stable and lucrative revenue streams.

Challenges and Strategic Value

Despite its strengths, Chatham Lodging faces challenges such as economic cyclicality, dependency on third-party brand agreements, and operational complexities associated with managing a geographically dispersed portfolio. However, the company's strategic focus on upscale extended-stay properties, coupled with its partnerships with globally recognized hotel brands, positions it as a resilient player in a growing market segment. By leveraging its operational expertise and targeting high-demand locations, Chatham Lodging continues to deliver value to its stakeholders.

Conclusion

Chatham Lodging Trust exemplifies a focused and strategic approach within the hospitality sector, specializing in upscale extended-stay properties that cater to a niche yet growing market. Its partnerships with leading hotel brands, geographic diversification, and efficient REIT structure underscore its commitment to delivering long-term value. As a publicly traded REIT, Chatham Lodging offers investors exposure to the extended-stay hotel market while benefiting from the stability and growth potential of this unique lodging segment.

Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT), a REIT specializing in upscale, extended-stay hotels and premium-branded, select-service hotels, will announce its second quarter 2024 financial results on Friday, August 2, 2024, before the market opens. The company owns 39 hotels.

A conference call to review the results will be hosted by CEO Jeffrey H. Fisher, EVP Dennis M. Craven, and CFO Jeremy Wegner at 10:00 a.m. ET on the same day. Interested parties can listen to the webcast on Chatham’s website or join via phone by dialing specified numbers. A recording will be available until August 9, 2024, and a replay will be posted on the company's website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.52%
Tags
-
Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT), a REIT that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, announced a quarterly dividend declaration. The board of trustees declared a dividend of $0.07 per common share and $0.41406 per preferred share. These dividends are payable on July 15, 2024, to shareholders of record as of June 28, 2024. Chatham Lodging Trust owns 39 hotels.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.72%
Tags
dividends
-
Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT), a hotel REIT, reported a strong RevPAR growth of 5% quarter-to-date through May, exceeding its second quarter guidance of 2.5-4%. April occupancy increased 6% to 83% with ADR down 1% to $177, while May occupancy rose 4% to 82% with ADR up 1% to $182. Silicon Valley and Bellevue hotels saw an 11% RevPAR surge driven by a 6% occupancy increase to 77% and 6% ADR rise to $188. Key markets like Cherry Creek, Dallas, and San Diego also performed well. The company repaid $29M and $35M mortgages, borrowed $50M on its term loan, acquired Home2 Suites Phoenix Downtown for $43M, and issued $23M of CMBS debt. By June 30, Chatham expects $50M in cash and no outstanding balance on its $260M credit facility, post repaying $189M maturing debt in July. This marks their lowest leverage levels in a decade.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.07%
Tags
none
Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT) has acquired the 148-room Home2 Suites by Hilton Phoenix Downtown for $43.3 million, approximately $293,000 per room. This marks Chatham's first acquisition in over two years. The hotel is strategically located in downtown Phoenix and integrates the historic Fuller Paint Company Building, featuring unique public spaces and a signature food outlet. Upon stabilization, the acquisition is expected to generate a RevPAR exceeding $150 and an NOI yield over 9%. The purchase was funded through proceeds from the sale of Chatham's Denver Tech hotel and available cash. The hotel will be managed by Island Hospitality Management, owned by Chatham’s CEO, Jeffrey H. Fisher. This acquisition is part of Chatham's strategy to invest in high-quality, premium-branded hotels in locations with diverse demand drivers.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
Tags
-
Rhea-AI Summary

Chatham Lodging Trust (NYSE: CLDT) reported strong first quarter 2024 results with adjusted FFO per share beating estimates. RevPAR increased by 2%, ADR jumped by 1%, and occupancy rose by 1% for the 38 hotels owned. Silicon Valley and Bellevue hotels saw a 17% RevPAR growth. Net loss was $5.5 million compared to $5.0 million in 2023. Adjusted EBITDA rose by 6% to $18.9 million. The company continues to strengthen its balance sheet and plans to sell assets to reduce debt and invest in higher growth hotels.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.74%
Tags
-
Rhea-AI Summary
Chatham Lodging Trust (CLDT) will report its first quarter 2024 financial results on May 6, 2024. The company, a lodging REIT investing in upscale hotels, will host a conference call to review the results. Shareholders can participate via webcast or phone.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.82%
Tags
Rhea-AI Summary
Chatham Lodging Trust (CLDT) declares quarterly dividends for common and preferred shares, $0.07 and $0.41406 respectively, payable on April 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
dividends
-
Rhea-AI Summary
Chatham Lodging Trust (CLDT) announced its fourth quarter 2023 results, showcasing a 2.5% increase in Portfolio Revenue Per Available Room (RevPAR), a net loss of $11.0 million, and various financial metrics. Despite challenges in the technology sector, the company reported positive RevPAR growth and operational achievements, including debt reduction and increased dividends. Looking ahead, Chatham remains optimistic about the future performance fueled by technology sector investments and business travel demand.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.53%
Tags
-
Rhea-AI Summary
Chatham Lodging Trust (CLDT) has announced the date and time for its 2024 annual meeting of shareholders. The meeting will take place on May 15, 2024, at 10:00 a.m. EDT in West Palm Beach, Fla. Shareholders entitled to notice and vote must be determined by the close of business on March 18, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.53%
Tags
none
Rhea-AI Summary
Chatham Lodging Trust (CLDT), a lodging real estate investment trust (REIT), announced the characterization of dividends declared in 2023 on its common and preferred shares for federal income tax reporting purposes. The dividends declared in 2023 represented taxable ordinary income and return of capital. Shareholders will receive an IRS Form 1099-DIV from EQ Shareholder Services, the company’s dividend paying agent. The tax information should not be construed as tax advice and is subject to correction or adjustment when the filings are completed.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.01%
Tags
none

FAQ

What is the current stock price of Chatham Lodging (CLDT)?

The current stock price of Chatham Lodging (CLDT) is $6.2 as of April 4, 2025.

What is the market cap of Chatham Lodging (CLDT)?

The market cap of Chatham Lodging (CLDT) is approximately 299.5M.

What is Chatham Lodging Trust's primary business focus?

Chatham Lodging Trust specializes in acquiring, owning, and managing upscale extended-stay hotels across key U.S. markets.

How does Chatham Lodging generate revenue?

The company generates revenue through room bookings, food and beverage services, and other ancillary offerings, with room revenue being the largest contributor.

What brands do Chatham Lodging's hotels operate under?

Chatham's hotels operate under globally recognized brands such as Hilton, Marriott, and Hyatt, enhancing their market appeal and performance.

Where are Chatham Lodging's properties located?

Chatham owns and operates hotels in key U.S. markets, including California, New York, Texas, Florida, Minnesota, Massachusetts, and Pennsylvania.

What makes Chatham Lodging unique in the hospitality industry?

Chatham's focus on upscale extended-stay hotels, combined with partnerships with top-tier brands and strategic geographic diversification, sets it apart in the lodging industry.

What are the challenges faced by Chatham Lodging Trust?

Challenges include economic cyclicality, competition from alternative lodging platforms, and dependency on third-party brand agreements.

How does Chatham Lodging benefit from its REIT structure?

Chatham's REIT structure provides tax advantages and operational efficiency, allowing it to focus on managing and growing its portfolio of upscale extended-stay hotels.

What is the target market for Chatham Lodging's properties?

The target market includes business travelers, relocating families, and other guests requiring extended accommodations with upscale amenities.
Chatham Lodging

NYSE:CLDT

CLDT Rankings

CLDT Stock Data

299.53M
46.02M
2.53%
92.84%
0.84%
REIT - Hotel & Motel
Real Estate Investment Trusts
Link
United States
WEST PALM BEACH