Chatham Lodging Acquires New Residence Inn Charleston Summerville, S.C. for $20.8 Million (or $217K per Room)

Chatham Lodging Trust | August 29, 2018

WEST PALM BEACH, Fla., August 29, 2018—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 96-room Residence Inn by Marriott Charleston Summerville, S.C., for $20.8 million, or approximately $217,000 per room. "This is a beautiful, brand new, superior-quality hotel located in Nexton, a rapidly expanding area just outside of Charleston which sits in the direct path of metro Charleston's most energetic growth," said Jeffrey H. Fisher, Chatham's chief executive officer ...