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 reports developments for a self-advised, publicly traded lodging REIT focused on upscale extended-stay hotels and premium-branded select-service hotels. Company news centers on quarterly operating results, RevPAR, occupancy, average daily rate, hotel margins, adjusted FFO guidance and portfolio performance across branded hotel properties.
Recurring updates also cover hotel acquisitions and sales, common and preferred share dividends, federal tax characterization of distributions, share repurchases, leverage, credit capacity and annual meeting matters. Recent company announcements include completed portfolio transactions involving Hilton-branded extended-stay and select-service hotels.
Chatham Lodging Trust (NYSE: CLDT) reported strong third quarter 2022 results, with RevPAR increasing 34% to $150, surpassing 2019 levels. Key metrics include a net income of $12.4 million, a significant rebound from a loss of $1.4 million in Q3 2021, and a GOP margin of 50.1%. Adjusted EBITDA rose to $35.1 million while Adjusted FFO jumped to $25.2 million. The company achieved an occupancy rate of 80% across its portfolio. With improved financial flexibility, Chatham remains poised to capitalize on business travel recovery, supported by a new $215 million revolving credit facility.
Chatham Lodging Trust (NYSE: CLDT) has successfully refinanced its senior unsecured revolving credit facility and secured a new unsecured term loan. The new $215 million credit facility and $90 million term loan extend maturity to October 2027. Chatham's improved financial position includes a 40% reduction in net debt since the pandemic, allowing for future cash flow generation. Currently, there are no outstanding borrowings, and the facilities provide flexibility for asset acquisition.
Chatham Lodging Trust (NYSE: CLDT) announced it will release its third quarter 2022 financial results on November 8, 2022, before market opening. A conference call will follow at 10:00 a.m. ET featuring CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner. Interested parties can access the call via the company's website or by telephone. Chatham Lodging Trust operates 39 hotels with 5,914 rooms across 16 states and the District of Columbia.
Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has declared a preferred share dividend of $0.41406 per share, payable on October 17, 2022, to shareholders on record as of September 30, 2022. The company operates in the upscale and extended-stay hotel markets, owning 39 properties across 16 states and the District of Columbia, totaling 5,914 rooms/suites.
Chatham Lodging Trust (NYSE: CLDT) reported strong second-quarter 2022 results, achieving a net income of $9.3 million, a significant improvement from a $8.7 million loss in Q2 2021. RevPAR rose by 50% to $138, while average daily rate (ADR) increased 36% to $179. GOP margins improved to 49.2%, up from 43.1% last year. Adjusted EBITDA reached $31.1 million, up from $12.5 million. The company sold four hotels for approximately $80 million, enhancing its portfolio value. Overall, the results indicate a rebound in business travel and a strengthened financial position.
Chatham Lodging Trust (NYSE: CLDT) announced it will report second quarter 2022 financial results on August 3, 2022, before market opening. A conference call hosted by CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner is scheduled for 10:00 a.m. ET on the same day to review the financial results. Investors can access the call via Chatham’s website or by phone. Chatham Lodging Trust focuses on upscale, extended-stay hotels, owning 39 hotels with 5,914 rooms across 16 states and the District of Columbia.
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.