CHATHAM LODGING TRUST - CLDT STOCK NEWS

Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has declared a preferred share dividend of $0.41406 per share, payable on July 15, 2022, to shareholders of record as of June 30, 2022. The company, which operates upscale, extended-stay hotels and premium-branded, select-service hotels, owns a total of 39 hotels, providing 5,914 rooms across 16 states and the District of Columbia. Chatham Lodging Trust is a self-advised, publicly-traded REIT, focused on investing in high-quality lodging properties.

Chatham Lodging Trust (NYSE: CLDT) has completed the sale of four hotels, totaling 537 rooms, for approximately $80 million. This strategic move aims to enhance portfolio quality and increase liquidity for future growth, with the transactions yielding capitalization rates of about 2% and 6% on net operating income for 2021 and 2019, respectively. The hotels sold include properties in Massachusetts and Texas. CEO Jeffrey H. Fisher stated that these sales are a significant step in modernizing their hotel portfolio and improving their balance sheet.

Chatham Lodging Trust (CLDT) reported a 56% increase in RevPAR for Q1 2022, reaching $88, driven by a 36% rise in ADR to $146 and a 15% increase in occupancy to 60%. However, the company incurred a $9.7 million net loss compared to a net income of $2.7 million in Q1 2021. Adjusted EBITDA surged to $13.3 million, marking a notable recovery as travel demand rebounds post-COVID. The company opened a $71 million hotel and acquired another for $31 million, highlighting growth initiatives. Despite positive trends, concerns remain regarding ongoing debt and operational challenges.

Chatham Lodging Trust (NYSE: CLDT) will report its first quarter 2022 financial results on May 4, 2022, before market opening. The company, which owns 43 upscale and extended-stay hotels, will host a conference call at 10:00 a.m. ET on the same day. CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner will discuss the results. Interested parties can access the call via Chatham's website or by phone. A recording will be available until May 11, 2022.

Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) announced a preferred share dividend of $0.41406 per share, payable on April 18, 2022, to shareholders on record as of March 31, 2022. This dividend declaration reflects the company's ongoing commitment to return value to shareholders. Chatham Lodging operates 43 hotels across 16 states and the District of Columbia, focusing on upscale, extended-stay, and select-service hotels.

Chatham Lodging Trust (NYSE: CLDT) has acquired the 111-room Hilton Garden Inn Destin Miramar Beach in Florida for $31 million, approximately $279,000 per room. Opened in 2020, the hotel is strategically located near the Gulf of Mexico and is expected to generate a stabilized NOI yield of 8.0% to 8.5%. This acquisition diversifies Chatham's portfolio, enhances its presence in the Sunbelt, and aims to capitalize on population growth in the area.

Chatham Lodging Trust (CLDT) reported a fourth-quarter net loss of $11.4 million for 2021, an increase from a loss of $3.4 million in Q4 2020. However, RevPAR surged 93% to $92, with significant ADR and occupancy improvements. Adjusted EBITDA rose to $15.2 million as opposed to $0.2 million in the previous year. The company’s GOP margin improved to 41%, up from 25%. Chatham extended its credit facility to March 2024 and reported strong operational performance despite challenges from the Omicron variant. The opening of the Home2 Suites hotel is expected to bolster future growth.

Chatham Lodging Trust (NYSE: CLDT) has announced its 2022 annual meeting of shareholders will take place on May 24, 2022, at 10:00 a.m. EST. The meeting will occur at the company's corporate offices located in West Palm Beach, Florida. Shareholders eligible to vote will be determined by a record date of March 24, 2022. Chatham Lodging Trust focuses on investing in upscale extended-stay hotels and select-service hotels, currently owning 42 properties with a total of 6,340 rooms across 16 states and the District of Columbia.

Chatham Lodging Trust (NYSE: CLDT) has announced the opening of the 170-suite Home2 Suites by Hilton in Woodland Hills, Los Angeles, marking its third hotel opening in six months with a total investment of approximately $140 million. The new hotel is anticipated to have high revenue per available room (RevPAR) due to its unique positioning and market demand. Chatham plans to continue reinvesting capital from older assets into new hotels with higher growth prospects, expecting to generate more than $1 million in incremental stabilized EBITDA.