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) is a self-advised lodging real estate investment trust (REIT) focused on upscale, extended-stay hotels and premium-branded, select-service hotels. This news page aggregates company press releases, earnings updates and other disclosures so readers can follow developments affecting the CLDT stock and its hotel portfolio.
Recent news from Chatham highlights recurring themes in its business: quarterly financial results, portfolio RevPAR, ADR and occupancy trends, and commentary on performance across key markets such as Silicon Valley, Los Angeles, the Coastal Northeast, Washington, D.C., Greater New York, San Diego and Dallas. The company also reports on hotel-level performance by major brands, including Residence Inn, Hilton Garden Inn, Home2 Suites, Courtyard, Hampton Inn, Hyatt Place and Homewood Suites.
Investors can use this feed to track announcements on asset recycling, including the sale of older or lower RevPAR hotels, as well as updates on capital expenditures and renovations at selected properties. News items also cover Chatham’s capital structure, such as refinancings and changes to its unsecured credit facility, and provide details on net debt, leverage and interest costs.
Dividend declarations for common and preferred shares, along with information about the company’s share repurchase program, are regular features of Chatham’s news flow. Earnings releases include non-GAAP measures like FFO, Adjusted FFO, EBITDA and Adjusted EBITDA, plus hotel EBITDA margins and GOP margins. For investors and analysts following CLDT, this page offers a centralized view of the company’s operating performance, portfolio changes and financial policies over time.
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.
Chatham Lodging Trust (NYSE: CLDT) will report its third quarter 2020 financial results on October 29, 2020, before market opening. A conference call with executives, including CEO Jeffrey H. Fisher, will be held at 10:00 a.m. ET the same day to discuss the results. Chatham owns 86 hotels, totaling 12,040 rooms across 15 states and D.C., focusing on upscale, extended-stay, and premium select-service hotels. Interested parties can listen via Chatham's website or participate through a conference call.