chatham lodging trust
Chatham Lodging Trust Announces Sale of Hilton Garden Inn Denver Tech Center
Chatham Lodging Trust | January 11, 2024
WEST PALM BEACH, Fla., January 11, 2024 —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced the closing of the sale of the 180-room Hilton Garden Inn Denver Tech Center for approximately $18 million. An approximate $6 million renovation of the hotel was planned for 2023 but was not completed due to the pending sale. Proceeds from the sale of the hotel will be used for corporate investments and to repay debt....
Chatham Lodging Trust Completes Sale of Four Hotels for $80 Million
Chatham Lodging Trust | May 16, 2022
WEST PALM BEACH, Fla., May 16, 2022 —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced the closing of the sales of four hotels comprising 537 rooms for aggregate proceeds of approximately $80 million. Including near term capital expenditure requirements, the aggregate sales proceeds would equate to an approximate 2 and 6 percent capitalization rate on net operating income for 2021 and 2019, respectively. The four hotels comprise the following: 180-room Hilton Garden Inn, Burlington, Mass...
Island Hospitality Management Assumes Operations of the Hilton Garden Inn Destin Miramar Beach in Florida
Island Hospitality | March 17, 2022
MIRAMAR BEACH, FL — March 17, 2022 — Officials of Island Hospitality Management, the premier third-party management company for select-service and upscale, extended-stay hotels in the United States, announced today that the company has taken over operations of the 111-room Hilton Garden Inn Destin Miramar Beach in Fla., on behalf of Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. “We continue to expand our third-party management footprint throughout the Southeast, with the Hilton Garden Inn Dest...
Chatham Lodging Trust Acquires Hilton Garden Inn Destin Miramar Beach for $31M
Chatham Lodging Trust | March 9, 2022
WEST PALM BEACH, FL — March 9, 2022 — Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired the beachside 111-room Hilton Garden Inn Destin Miramar Beach, Fla., in an off-market transaction for $31 million, or approximately $279,000 per room. Recently opened in 2020, the hotel is within walking distance of the pristine white sands of the Gulf of Mexico. The hotel’s location in Miramar Beach is well situated in relation to the thriving Santa Rosa Beach and Destin ...
Chatham Lodging Trust Announces Solid Fourth Quarter 2021 Results
Chatham Lodging Trust | February 25, 2022
WEST PALM BEACH, FL — February 25, 2022 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the fourth quarter ended December 31, 2021. Fourth Quarter 2021 Operating Results Portfolio Revenue Per Available Room (RevPAR) – Increased 93 percent to $92 compared to the 2020 fourth quarter. Average daily rate (ADR) accelerated 36 percent to $141, and occupancy jumped 43 percent to 65 percent for the 40 comparable hotels owned as of December 31, 2021 (excludes one Austin hotel...
Chatham Lodging Trust Opens Home2 Suites by Hilton Woodland Hills Los Angeles
Chatham Lodging Trust | January 26, 2022
WEST PALM BEACH, FL — January 26, 2022 — Chatham Lodging Trust, a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced the opening of the 170-suite Home2 Suites by Hilton Woodland Hills Los Angeles that is positioned in the heart of Warner Center. The opening adds another high-quality, extended-stay hotel to the Chatham portfolio, the third such hotel in the last six months with total investments aggregating approximately $140 million. “This beautiful asset is an ideal addition to our industry leading portfolio of premium-b...
Chatham Lodging Trust Acquires Two Extended-Stay Hotels in Austin, Texas
Chatham Lodging Trust | August 4, 2021
WEST PALM BEACH, Fl — August 4, 2021 — Chatham Lodging Trust, a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that the company has acquired in an off-market transaction two, high-quality, premium-branded hotels comprising 269 rooms at the Domain in Austin, Texas, for $71.2 million, or approximately $265,000 per room (the “Austin Acquisitions”). The acquired hotels include the 132-room Residence Inn Austin Domain, which opened in July 2016, and the 137-room TownePlace Suites Austin Domain, which opened in June 2021. Upon stabil...
Chatham Lodging Trust Announces Second Quarter 2021 Results
Chatham Lodging Trust | August 3, 2021
WEST PALM BEACH, Fl — August 3, 2021 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the second quarter ended June 30, 2021. Second Quarter 2021 Operating Results Portfolio Revenue Per Available Room (RevPAR) – Increased 170 percent to $87, compared to the 2020 second quarter. Average daily rate (ADR) rose 32 percent to $127, and occupancy jumped 105 percent to 68 percent for the 39 comparable hotels owned as of June 30, 2021. All Chatham hotels remained open throughout the pa...
