Chatham Lodging Trust reported resilient third-quarter results despite a 2.5% decline in RevPAR, driven by strategic hotel sales and disciplined cash management. They exceeded expectations on hotel EBITDA and FFO per share, laying groundwork for future growth.
- Completed the sale of five underperforming hotels, enhancing liquidity for new investment opportunities.
- Returned approximately $3.4 million to shareholders through share repurchases, with plans to continue purchasing stock at perceived discounts.
- Secured an upsized credit facility, lowering borrowing costs and supporting financial flexibility for acquisitions and new developments.
- Significant RevPAR growth in key markets like Silicon Valley, Coastal Northeast, and Greater New York, with some properties achieving record highs.
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