Chatham Lodging Acquires 219-Room Embassy Suites by Hilton in Springfield, Virginia for $68 Million

Chatham Lodging Trust | December 7, 2017

WEST PALM BEACH, Fla., December 7, 2017—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 it has acquired the 219-suite Embassy Suites by Hilton in Springfield, Virginia for $68 million, or approximately $310,000 per suite. Chatham funded the purchase through available cash from its recently completed 5,000,000 share offering that raised approximately $109 million dollars. With this acquisition, Chatham has invested approximately 81 percent of the proceeds from the share offering. "Th...