Financial Data and Key Metrics Changes - The company repaid approximately $280 million of maturing debt in the past three months, leaving only $30 million of maturing debt over the next year [3] - FFO is expected to increase by $2.6 million or $0.05 per share for every 100 basis points decline in SOFR [3] - Q2 2024 hotel EBITDA was $33.7 million, adjusted EBITDA was $31.4 million, and adjusted FFO was $0.39 per share [14] Business Line Data and Key Metrics Changes - RevPAR growth was 4% in Q2 2024, with a RevPAR of $151, exceeding 2019 levels for the first time since the pandemic [5] - Occupancy rates for key weekday business travel days were 85% on Monday, 88% on Tuesday, 84% on Wednesday, and 83% on Thursday [5] - RevPAR for tech hotels in Silicon Valley and Bellevue increased by 10% in the quarter, with Bellevue showing a 14% increase [6][7] Market Data and Key Metrics Changes - RevPAR in markets representing over half of the trailing 12-month EBITDA grew between 5% and 10% [9] - San Francisco's airport saw international passenger traffic surpass 2019 levels in April and May, indicating a recovery in travel demand [11] - The company noted that the competitive set occupancy at tech hotels was up 8% to approximately 70% in the quarter [6] Company Strategy and Development Direction - The company is actively marketing a handful of hotels for sale, expecting to realize between $40 million and $80 million from these sales [4] - The acquisition of a new hotel, Home2 Suites by Hilton Phoenix, for $43.3 million is part of the strategy to increase exposure in desirable markets [4] - The company aims to benefit from declining interest rates and has the capacity to acquire hotels that are accretive to FFO and cash flow [8] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong occupancy levels and business travel demand, despite some concerns about leisure travel pullback [20] - The company expects RevPAR growth of 0% to 2.5% in Q3 2024, with adjusted EBITDA projected between $28.2 million and $30.6 million [15] - Management noted that the normalization phase post-COVID is underway, with no immediate concerns about a significant economic slowdown [20] Other Important Information - GOP margins of 46% finished at the top of the guidance range, despite absorbing approximately $700,000 of one-time non-recurring expenses [8] - The company spent $48 million in capital expenditures during the quarter and expects to spend approximately $37 million in 2024 [13] - Average hourly wages for labor costs were only up 1% from December, indicating improved productivity [12] Q&A Session Summary Question: Trends in recent weeks and leisure demand impact on Q3 outlook - Management indicated that leisure hotel performance was down 2% in Q2 and does not expect significant changes for Q3, with a potential slight decline [16] Question: RevPAR cadence for the second half of the year - Management expects the fourth quarter to be similar to the third quarter, with October typically being a strong month for tech hotels [17] Question: Opportunities for acquisitions and dispositions - Management noted that the Home2 Phoenix acquisition was unique, with expectations for more deal flow as the year progresses, while also looking to sell lower RevPAR hotels facing renovations [18] Question: Demand commentary and concerns - Management expressed no immediate concerns about demand slowdown, citing strong occupancy levels and a normalization phase post-COVID [20] Question: Margin performance and outperformance drivers - Management attributed margin outperformance to better-than-expected property taxes and improved productivity on rooms labor [21] Question: Feedback on transaction market for hotel sales - Management reported positive feedback on hotel sales, with expectations to achieve targeted pricing ranges [22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Shares of Beneficial Interest, $0.01 par value CLDT New York Stock Exchange 6.625% Series A Cumulative Redeemable Preferred Shares CLDT-PA New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended ...

Chatham Lodging (CLDT) reported $86.48 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 2.4%. EPS of $0.39 for the same period compares to $0.15 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $85.48 million, representing a surprise of +1.17%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.36. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

| --- | --- | |-----------------------------|-------------------------| | | | | For Immediate Release | Exhibit 99.1 | | Contact: | | | Dennis Craven (Company) | Chris Daly (Media) | | Chief Operating Officer | DG Public Relations | | (561) 227-1386 | (703) 864-5553 | Chatham Lodging Trust Announces Second Quarter 2024 Results Adjusted FFO Per Share Beats Estimates WEST PALM BEACH, Fla., August 2, 2024 — Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscal ...

Chatham Lodging (CLDT) came out with quarterly funds from operations (FFO) of $0.39 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to FFO of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 8.33%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.13 per share when it actually produced FFO of $0.16, delivering a surprise of 23.08%. Over the last four q ...

DNY59 Treasuries currently yield 4-5%, prompting some investors to park cash in bonds rather than equities. While treasury bonds can be a great place to put capital to work when it comes to principal that you need within a certain time frame, one should probably ask the following questions when it comes to putting too much capital in bonds: Opportunity Cost: What am I missing out on in the equity markets by investing in bonds? Real Return: What is the real rate of return after taxes, and does that surpass i ...

Art Wager/E+ via Getty Images Introduction Chatham Lodging Trust (NYSE:CLDT) is one of the weakest-performing REITs so far in 2024, with a negative return of 18% significantly below the 5% drop in the benchmark Vanguard Real Estate Index Fund ETF (VNQ): ● CLDT (44 -10% en an CLDT vs VNQ in 2024 (Seeking Alpha) I think the company is quite cheap, offering a cap rate of 10.3% and a robust operating performance, notwithstanding the risks related to the drivers of its revenue growth and expensive debt. Company ...

9. Earnings Per Share 13 From time to time, the Company may award restricted shares under the Equity Incentive Plan as compensation to officers, employees and non-employee trustees. The Company recognizes compensation expense for the restricted shares on a straight-line basis over the vesting period based on the fair market value of the shares on the date of issuance. 14 | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------|------------------------------------------- ...

Chatham Lodging Trust (NYSE:CLDT) Q1 2024 Earnings Call Transcript May 6, 2024 10:30 AM ET Company Participants Chris Daly - DG Public Relations Jeffrey Fisher - Chairman, President, CEO Dennis Craven - EVP & COO Jeremy Wegner - CFO & SVP Conference Call Participants Ari Klein - BMO Capital Markets Bryan Maher - B Riley Securities Operator Greetings. Welcome to Chatham Lodging Trust First Quarter 2024 Financial Results. At this time, all participants are in listen-only mode. A question-and-answer session wi ...

For the quarter ended March 2024, Chatham Lodging (CLDT) reported revenue of $68.44 million, up 1.2% over the same period last year. EPS came in at $0.16, compared to -$0.14 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $68.79 million, representing a surprise of -0.50%. The company delivered an EPS surprise of +23.08%, with the consensus EPS estimate being $0.13.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...