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.
Chatham Lodging Trust (NYSE: CLDT) delivers curated updates on this hospitality-focused REIT specializing in upscale extended-stay hotels. This page aggregates official press releases, financial disclosures, and strategic developments for investors and industry observers.
Access real-time information on portfolio expansions, earnings results, and partnerships with global brands like Hilton and Marriott. Our repository simplifies tracking CLDT's performance in key markets including California, Texas, and Florida, where demand for extended-stay accommodations continues growing.
Discover updates across three core areas: financial reporting (quarterly earnings, dividend announcements), operational developments (property acquisitions, renovations), and brand collaborations enhancing guest experiences. The content reflects CLDT's focus on business travelers and families requiring premium extended lodging solutions.
Bookmark this page for streamlined access to Chatham Lodging Trust's latest corporate communications, ensuring you stay informed about this niche REIT's market position and growth strategies.
Chatham Lodging Trust (NYSE: CLDT) reported strong third-quarter results for 2021, with a 92% increase in RevPAR to $107, driven by a 39% rise in ADR to $150 and 38% occupancy boost to 71%. The net loss decreased significantly to $1.4 million, from $18.3 million year-over-year. Adjusted EBITDA surged to $19.6 million from $5.1 million in Q3 2020, while Adjusted FFO reached $10.5 million compared to a loss in the prior year. Acquisitions of two hotels for $71 million enhanced portfolio quality. Chatham also amended its credit facility, improving financial flexibility.
Chatham Lodging Trust (NYSE: CLDT) will report its third quarter 2021 financial results on November 4, 2021, before market opening. A conference call will follow at 10:00 a.m. ET featuring CEO Jeffrey H. Fisher and other executives to discuss results. The company, which invests in upscale, extended-stay and select-service hotels, owns 41 hotels with a total of 6,169 rooms across 15 states and the District of Columbia. The call will be available via webcast, and a recording will be accessible until November 11, 2021.
Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has announced a preferred share dividend of $0.48307 per share, payable on October 15, 2021. Shareholders on record as of September 30, 2021 will receive this dividend, marking a significant return for investors. The company, focusing on upscale, extended-stay hotels and select-service hotels, owns 41 properties totaling 6,169 rooms across 15 states and the District of Columbia. Chatham's commitment to shareholder returns is demonstrated through this dividend declaration.
Chatham Lodging Trust (NYSE: CLDT) appointed Ethel Isaacs Williams and David J. Grissen as independent directors to its board, effective immediately. With extensive experience, Williams previously served as senior vice president at Kaufman Lynn and held various roles at Florida Power & Light and NextEra Energy. Grissen concluded a successful 35-year career at Marriott International, overseeing extensive operations. Their appointments aim to enhance board diversity and expertise, supporting the company’s goal of maximizing cash flow and shareholder returns.
Chatham Lodging Trust (NYSE: CLDT) has announced the acquisition of two premium-branded hotels in Austin, Texas, for $71.2 million, equating to approximately $265,000 per room. The portfolio includes the Residence Inn and TownePlace Suites, totaling 269 rooms. Expected to generate an estimated NOI yield of 8.0% to 8.5%, these acquisitions aim to enhance portfolio RevPAR and systematically reduce the average age of the portfolio. The properties are strategically located in a rapidly growing area, benefiting from significant corporate demand.
Chatham Lodging Trust (NYSE: CLDT) reported a significant rebound in Q2 2021, with portfolio RevPAR rising 170% to $87 compared to Q2 2020. Average Daily Rate (ADR) increased by 32% to $127, and occupancy surged 105% to 68%. The net loss decreased to $8.7 million from $27.2 million year-over-year, improving net loss per diluted share to $(0.18). Adjusted EBITDA was positive at $12.5 million, marking the fourth consecutive quarter of growth. Chatham raised approximately $116 million through Series A Preferred Shares and plans to acquire two hotels in Austin, Texas, signaling a strategic expansion.
Chatham Lodging Trust (NYSE: CLDT) will report its second quarter 2021 financial results on August 3, 2021, before market open. A conference call with CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner will take place at 10:00 a.m. ET on the same day to discuss these results. Investors can access the call via Chatham's website or by dialing in. The trust operates 39 upscale, extended-stay and premium-branded hotels across 15 states and the District of Columbia.
Chatham Lodging Trust (NYSE: CLDT) announced a public offering of 4,800,000 of its 6.625% Series A Cumulative Redeemable Preferred Shares at $25.00 each, aiming for net proceeds of approximately $116.1 million. The offering, set to close on June 30, 2021, will fund debt repayment under its revolving credit facility and may also support acquisitions of two hotels in Austin, Texas, for around $71.2 million. As of June 22, 2021, CLDT's revolving credit borrowings totaled $130.0 million at 3.0% interest.
Chatham Lodging Trust (NYSE: CLDT) reported significant RevPAR improvements for Q2 2021, showcasing a strong recovery in the lodging sector. RevPAR rose from $47 in January to $88 in May, with a notable 230% increase in April and 192% in May compared to 2020. Occupancy rates climbed to 70% in May. The northeastern leisure markets are expected to thrive post-pandemic, and corporate demand is rebounding. Although corporate EBITDA improved to $2.9 million in April, debt service remains a challenge, totaling approximately $2.9 million monthly. Overall, positive trends suggest ongoing recovery prospects.
Chatham Lodging Trust (NYSE: CLDT) reported its Q1 2021 financial results, indicating a significant recovery despite ongoing pandemic challenges. RevPAR dropped 42% to $55, but occupancy improved to 65% in April. Net income rose to $2.7 million from a $28.1 million loss in Q1 2020, with a notable gain from the Innkeepers joint venture sale contributing $23.8 million. Adjusted EBITDA showed a slight increase, marking the third consecutive quarter of positive results. The company has a liquidity of $145 million and expects continued recovery in leisure travel, especially in coastal markets.
