Chatham Lodging Trust Acquires Home2 Suites Phoenix Downtown for $43.3 Million

Chatham Lodging Trust | May 31, 2024

WEST PALM BEACH, Fla., May 31, 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 that the company has acquired the recently opened, 148-room Home2 Suites by Hilton Phoenix Downtown for $43.3 million or approximately $293,000 per room. The institutional quality, six-story hotel sits in the heart of Downtown Phoenix and includes the historic Fuller Paint Company Building that houses the hotel’s customized public spaces, including a signature food & beverage outlet.  Upon stabilization, ...