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...