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) will announce its first quarter 2021 financial results on May 4, 2021, before market opening. A conference call hosted by executives will take place on the same day at 10:00 a.m. ET, which can be accessed via Chatham's website or by calling 1-877-407-0789. The company owns interests in 39 properties, totaling 5,900 rooms/suites across 15 states and D.C. Chatham highlights the relevance of non-GAAP financial measures like FFO and EBITDA in evaluating its operating performance.
Chatham Lodging Trust (NYSE: CLDT) announced the sale of its 10.3% stake in the Innkeepers joint venture to Colony Capital for $2.8 million. This transaction concludes a profitable partnership that began in 2011, with Chatham originally investing $37 million. The overall return on investment from this venture exceeds $100 million, including $22.2 million in distributions received. Chatham operates properties primarily in the upscale, extended-stay hotel sector, managing 39 properties across 15 states and D.C.
Chatham Lodging Trust (NYSE: CLDT) announces the passing of board member Jack P. DeBoer, who significantly contributed to the hospitality industry by founding multiple hotel chains, including Residence Inn, Summerfield Suites, and Candlewood Suites. DeBoer was with Chatham since its IPO in 2010 and had a notable impact on the company's direction and growth. His legacy includes pioneering the extended-stay hotel concept and developing numerous properties. CEO Jeffrey H. Fisher praised DeBoer's mentorship and humanitarian efforts, stating that his absence will resonate throughout the organization.
Chatham Lodging Trust (NYSE: CLDT) has scheduled its 2020 annual meeting of shareholders for May 11, 2021, at 10:00 a.m. EST, to be held at its corporate offices in West Palm Beach, Florida. The record date for shareholders eligible to vote is set for March 11, 2021. Chatham focuses on upscale extended-stay and premium-branded select-service hotels, owning 85 hotels with a total of 11,848 rooms/suites, including 39 wholly-owned properties and a minority interest in a joint venture comprising 46 hotels.
Chatham Lodging Trust (NYSE: CLDT) reported significant declines in Q4 2020 due to the pandemic. Portfolio RevPAR dropped 60% to $47, with a 34% fall in ADR to $104 and occupancy down 40% to 45%. The net loss worsened to $(3.4) million, compared to $(2.4) million in Q4 2019. Despite these challenges, Chatham recognized a $21.1 million gain from the sale of a hotel. Adjusted EBITDA was $0.2 million, reflecting an operational focus on cost control and cash burn minimization, which totaled $9.5 million for the quarter. The company maintains a robust liquidity of $136 million.
Chatham Lodging Trust (NYSE: CLDT) announced the federal income tax reporting characterization of its 2020 common share dividends. The company declared regular dividends of $0.1100 per share on January 31 and February 28, 2020, with payment dates of February 28 and March 27, 2020, respectively. Notably, these dividends do not include foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV for tax reporting purposes. Chatham Lodging Trust primarily invests in upscale extended-stay hotels and holds interests in 85 properties.
Chatham Lodging Trust (NYSE: CLDT) will release its fourth quarter 2020 financial results on February 24, 2021, prior to market opening. A conference call will be held at 2:00 p.m. ET featuring CEO Jeffrey H. Fisher and other key executives to discuss the results. Chatham owns 85 hotels, comprising 11,848 rooms/suites across various states and the District of Columbia, focusing on upscale, extended-stay, and select-service hotels. More information is available on their website.
Chatham Lodging Trust (NYSE: CLDT) has amended its $250 million revolving credit facility, building on a previous amendment from May 2020. This amendment includes a waiver of key financial covenants until December 31, 2021, allowing full utilization of the credit facility. Chatham's liquidity stands at approximately $146 million, with $32 million in cash and $114 million available on the credit line. Post-sale of the Residence Inn San Diego Mission Valley, leverage ratios improved significantly. CEO Jeffrey H. Fisher noted that these changes would help Chatham emerge healthier from the pandemic.
Chatham Lodging Trust (NYSE: CLDT) has successfully sold the 192-room Residence by Marriott San Diego Mission Valley for $67 million, approximately $349,000 per room. The sale proceeds will repay a $27 million mortgage and cover credit facility borrowings, leaving around $38 million for further liquidity. Chatham's liquidity now stands at $146 million, with a significant decrease in leverage ratios, enhancing financial stability. The company expects to emerge from the pandemic in a stronger position than its peers, having produced the highest absolute RevPAR among lodging REITs in recent quarters.
Chatham Lodging Trust (NYSE: CLDT) reported third quarter results for 2020, highlighting a 61% decline in RevPAR to $58 compared to Q3 2019. Occupancy fell to 53%, with a 36% decrease in average daily rate (ADR) to $110. The company posted a net loss of $(18.3) million, down from $10.1 million profit a year prior. However, adjusted EBITDA showed a positive recovery at $5.1 million, rebounding from a loss of $(3.3) million in Q2. Chatham is under contract to sell a San Diego hotel for $67 million, enhancing its liquidity.
