Chatham Lodging Stock Price, News & Analysis

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.

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.