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Chatham Lodging Trust (CLDT) is a publicly traded real estate investment trust (REIT) based in the United States, specializing in owning upscale extended-stay hotels. Chatham's portfolio spans across key states such as California, New York, Texas, Florida, Minnesota, Massachusetts, and Pennsylvania, among others. The firm's mission is to strategically invest in high-quality extended-stay hotels that promise superior returns.
All of Chatham's assets are held and operated by its Operating Partnership, Chatham Lodging, LP. This partnership, along with its subsidiaries, is responsible for leasing and managing the entire portfolio of hotels under the Chatham banner. The company operates through a single segment due to the uniform economic characteristics of its properties.
Chatham Lodging Trust generates revenue from three primary streams: Room, Food and Beverage, and Other. The majority of the revenue comes from Room charges, which cover the cost of lodging. Their properties operate under prominent and trusted brands such as Hilton, Marriott, and Hyatt, ensuring a consistent and high-quality guest experience.
In recent developments, Chatham has continued to focus on optimizing its portfolio by enacting strategic acquisitions and improvements across its properties. The company remains financially robust with a commitment to maintaining a strong balance sheet and delivering value to its shareholders.
Chatham Lodging Trust is dedicated to providing upscale accommodations and exceptional service to its guests, while simultaneously driving growth and profitability for its investors. Keep up with the latest news and updates about Chatham Lodging Trust to stay informed about their performance, events, and significant developments.
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.
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