Financial Data and Key Metrics Changes - The company achieved a RevPAR growth of over 5% for the quarter, outperforming the industry for the fifth consecutive quarter [7] - Year-over-year FFO per share grew by 5%, reaching $0.43, exceeding consensus estimates of $0.40 per share [12] - Operating margins remained flat at 49%, while hotel EBITDA margins were slightly below prior year levels at 41% [13] Business Line Data and Key Metrics Changes - Portfolio occupancy rose to 79%, up from 77% last year, and close to the 2019 level of 83% [9] - ADR increased by $3 year-over-year and $6 compared to 2019, with June weekday ADR reaching $186, the third highest since the pandemic [10] - Leisure markets showed strong RevPAR growth, with notable increases in Portsmouth, New Hampshire (24%) and Fort Lauderdale (14%) [11] Market Data and Key Metrics Changes - Silicon Valley, the largest market, saw occupancy at 81%, but RevPAR was down 28% compared to 2019 levels [28] - Seattle's RevPAR was down 9%, but occupancy increased by 1% year-over-year [29] - Washington DC generated meaningful RevPAR growth of 11%, with the Embassy Suites in Springfield seeing a 17% increase [32] Company Strategy and Development Direction - The company is pursuing external growth opportunities while being mindful of the cost of capital and potential acquisitions [15] - There is significant internal growth potential, particularly with the expected return of the intern business in tech markets [16] - The company plans to spend approximately $30 million on CapEx in 2023, including $22 million for renovations [38] Management's Comments on Operating Environment and Future Outlook - Management noted that the loss of intern business will impact comparisons for the third quarter but expects a recovery in the future [26] - International travel is improving, with deployments in key markets at their highest since the pandemic [19] - The company anticipates substantial growth in earnings as tech companies invest in CapEx and product development [24] Other Important Information - The company repaid a $20 million maturing mortgage and has only $70 million of maturity mortgages due between now and June 2024 [14] - The company has refinanced or repaid $109 million of debt year-to-date, leaving only $40 million of remaining debt maturing in 2023 [41] Q&A Session Summary Question: Sustainability of flat hourly wages - Management indicated that wage pressures have decreased, and they are optimistic about maintaining wage stability moving forward [52][53] Question: Timing for addressing future debt maturities - Management plans to address remaining maturities in Q1 next year, depending on market conditions [55] Question: Impact of lost intern business on Q3 RevPAR - The lost intern business is expected to impact RevPAR by about 700 basis points, making recovery more challenging [72] Question: Yield on potential acquisitions - The company is currently evaluating acquisition opportunities that yield above 7%, with some potential deals exceeding 8% [63] Question: Impact of strikes in Los Angeles - Management reported no significant impact from the strikes, with strong performance continuing in the area [66][68]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents Chatham Lodging Trust's unaudited interim consolidated financial statements, including balance sheets, statements of operations, equity, cash flows, and detailed notes on key financial matters [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements show total assets slightly decreased to **$1,336.7 million** as of June 30, 2023, with net income improving to **$4.3 million** and operating cash flow increasing to **$32.7 million** for the six months ended June 30, 2023 | Financial Metric | Six Months Ended June 30, 2023 (USD) | Six Months Ended June 30, 2022 (USD) | | :--- | :--- | :--- | | **Total Revenue** | $152.1 million | $136.6 million | | **Net Income (Loss)** | $4.3 million | ($0.4 million) | | **Net Income (Loss) per Share (Diluted)** | $0.01 | ($0.09) | | **Net Cash from Operations** | $32.7 million | $21.7 million | | Balance Sheet Item | June 30, 2023 (USD) | December 31, 2022 (USD) | | :--- | :--- | :--- | | **Total Assets** | $1,336.7 million | $1,343.7 million | | **Total Liabilities** | $522.2 million | $525.7 million | | **Total Equity** | $814.5 million | $818.0 million | [Notes to the Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Notes detail the company's structure as a REIT owning 39 hotels, its **$465.9 million** debt, equity components, lease obligations, and related-party transactions with Island Hospitality Management - As of June 30, 2023, the Company owned **39 hotels** with an aggregate of **5,915 rooms** located in 16 states and the District of Columbia[171](index=171&type=chunk) - Total debt outstanding as of June 30, 2023, was **$465.9 million**, which includes mortgage debt, an unsecured term loan, and excludes unamortized debt issue costs[157](index=157&type=chunk) - All **39** of the company's hotels are managed by Island Hospitality Management LLC (IHM), wholly owned by the Company's Chairman, President, and CEO, Jeffrey H. Fisher[172](index=172&type=chunk)[202](index=202&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and results, highlighting recovery, revenue and expense trends, non-GAAP measures, liquidity, capital resources, and debt management [Overview](index=22&type=section&id=Overview) The company, a self-advised REIT, focuses on upscale extended-stay and select-service hotels, showing significant business improvement in 2022-2023, with a **25.8%** leverage ratio and **$466.7 million** total debt as of June 30, 2023 - The company's business experienced significant improvement through 2022 and into 2023, driven by leisure travel and recovering corporate demand segments[26](index=26&type=chunk) - The company's investment strategy focuses on upscale extended-stay and premium-branded select-service hotels near strong demand generators[27](index=27&type=chunk) - As of June 30, 2023, the leverage ratio was **25.8%**, with total debt of **$466.7 million** at a weighted average interest rate of approximately **5.0%**[268](index=268&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) For the six months ended June 30, 2023, total revenue increased by **11.3%** to **$152.1 million**, with net income improving to **$4.3 million**, driven by a **13.9%** increase in same-property RevPAR | Metric | Three Months Ended June 30, 2023 (USD) | Three Months Ended June 30, 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $84.5 million | $81.8 million | 3.3% | | **Net Income** | $9.4 million | $9.3 million | 0.5% | | **Same Property RevPAR** | $143.96 | $137.68 | 4.6% | | Metric | Six Months Ended June 30, 2023 (USD) | Six Months Ended June 30, 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $152.1 million | $136.6 million | 11.3% | | **Net Income (Loss)** | $4.3 million | ($0.4 million) | N/A | | **Same Property RevPAR** | $130.00 | $114.17 | 13.9% | [Non-GAAP Financial Measures](index=32&type=section&id=Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP measures like FFO, Adjusted FFO, EBITDA, and Adjusted Hotel EBITDA, with FFO at **$29.1 million** and Adjusted EBITDA at **$49.6 million** for the six months ended June 30, 2023 | Non-GAAP Measure (Six Months Ended June 30) | 2023 (USD) | 2022 (USD) | | :--- | :--- | :--- | | **FFO attributable to common share and unit holders** | $29.1 million | $23.8 million | | **Adjusted FFO attributable to common share and unit holders** | $29.7 million | $24.2 million | | **Adjusted EBITDA** | $49.6 million | $44.4 million | | **Adjusted Hotel EBITDA** | $55.4 million | $52.0 million | - Management considers FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA, and Adjusted Hotel EBITDA as key supplemental measures of operating performance[75](index=75&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2023, the company held **$47.7 million** in cash, with net cash from operations at **$32.7 million**, and plans to invest **$15.0 million** in renovations, while remaining compliant with debt covenants - Cash, cash equivalents, and restricted cash totaled **$47.7 million** as of June 30, 2023, an increase of **$2.5 million** from year-end 2022[52](index=52&type=chunk) - Net cash provided by operating activities increased by **$11.0 million** to **$32.7 million** for the six months ended June 30, 2023, primarily due to improving hotel operating results[80](index=80&type=chunk) - The company expects to invest approximately **$15.0 million** on renovations and other expenditures on existing hotels during the remainder of 2023[53](index=53&type=chunk) - The company was in compliance with all financial covenants at June 30, 2023[317](index=317&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate changes, with **$90.0 million** in floating-rate debt, where a **100 basis point** SOFR increase would raise annual interest expense by **$0.9 million** - The company's main market risk is interest rate changes affecting its long-term debt[301](index=301&type=chunk) - A hypothetical **100 basis point** increase in SOFR would increase annual interest expense by approximately **$0.9 million**, based on the **$90.0 million** of floating rate debt outstanding as of June 30, 2023[302](index=302&type=chunk) | Debt Type | Total Principal (in thousands USD) | Weighted Average Interest Rate | | :--- | :--- | :--- | | **Floating Rate Debt** | $90,000 | 6.40% | | **Fixed Rate Debt** | $376,705 | 4.66% | [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal control over financial reporting during the last quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[110](index=110&type=chunk) - There were no changes in internal control over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, internal controls[89](index=89&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to routine litigation in the ordinary course of business, which management believes will not materially impact its financial condition or results of operations - The Company is subject to routine litigation arising in the ordinary course of business but does not expect these proceedings to have a material adverse impact on its financial condition[90](index=90&type=chunk) [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K were reported - No material changes to the Risk Factors disclosed in the 2022 Annual Report on Form 10-K were reported[326](index=326&type=chunk) [Item 5. Other Information](index=40&type=section&id=Item%205.%20Other%20Information) No trustees or officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the three months ended June 30, 2023 - No trustees or officers adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter[92](index=92&type=chunk) [Item 6. Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including CEO and CFO certifications and various Inline XBRL documents - The report includes CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[93](index=93&type=chunk)

Chatham Lodging Trust (NYSE:CLDT) Q1 2023 Earnings Conference Call May 4, 2023 1:00 PM ET Company Participants Chris Daly – President-DG Public Relations Jeff Fisher – Chairman, President and Chief Executive Officer Dennis Craven – Executive Vice President and Chief Operating Officer Jeremy Wegner – Senior Vice President and Chief Financial Officer Conference Call Participants Ari Klein – BMO Capital Markets Bryan Maher – B. Riley Securities Jonathan Jenkins – Oppenheimer Anthony Powell – Barclays Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34693 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Co ...

Chatham Lodging Trust (NYSE:CLDT) Q4 2022 Earnings Conference Call February 23, 2023 10:00 AM ET Company Participants Chris Daly - President, DG Public Relations, IR Jeff Fisher - Chairman, CEO & President Dennis Craven - EVP & COO Jeremy Wegner - SVP and CFO Conference Call Participants Anthony Powell - Barclays Ari Klein - BMO Capital Markets Tyler Batory - Oppenheimer Bryan Maher - B. Riley Securities FBR Operator Greetings and welcome to the Chatham Lodging Trust Fourth quarter 2022 Financial Results Co ...

PART I. Company Information This section outlines the company's business, operational structure, risk factors, and legal and property details [Item 1. Business Overview](index=5&type=section&id=Item%201.%20Business) Chatham Lodging Trust is a Maryland REIT investing in upscale extended-stay and premium-branded select-service hotels, owning 39 hotels managed by IHM - Chatham Lodging Trust is an internally-managed Maryland REIT, focusing on upscale extended-stay and premium-branded select-service hotels[22](index=22&type=chunk) - All hotels are managed by Island Hospitality Management Inc. (IHM), which is 100% owned by the Company's Chairman, President, and CEO, Jeffrey H. Fisher[25](index=25&type=chunk) Hotel Portfolio Summary (as of Dec 31, 2022) | Metric | Value | | :----- | :---- | | Hotels Owned | 39 | | Total Rooms | 5,914 | | States of Operation | 16 states and D.C. | [Overview](index=6&type=section&id=Overview) The company operates as a REIT, leasing hotels to TRS Lessees, and focuses on upscale extended-stay and premium-branded select-service hotels - The Company operates as a REIT, leasing its wholly-owned hotels to Taxable REIT Subsidiary (TRS) Lessees, which then contract third-party management companies for day-to-day operations[24](index=24&type=chunk) - The portfolio includes brands like Residence Inn by Marriott, Homewood Suites by Hilton, Courtyard by Marriott, and Hampton Inn, primarily focusing on upscale extended-stay and premium-branded select-service hotels[26](index=26&type=chunk) [Financial Information About Industry Segments](index=7&type=section&id=Financial%20Information%20About%20Industry%20Segments) All hotels are evaluated as a single industry segment due to similar economic characteristics and customer services - The Company evaluates all its hotels as a single industry segment due to similar economic characteristics and customer services, thus not reporting segment-specific information[29](index=29&type=chunk) [Business Strategy](index=7&type=section&id=Business%20Strategy) The primary objective is to generate attractive shareholder returns through disciplined acquisitions, aggressive asset management, and a prudent capital structure - Primary objective is to generate attractive shareholder returns through disciplined acquisition of hotel properties, opportunistic repositioning, aggressive asset management, selective hotel development, flexible management company selection, and selective investment in hotel debt[30](index=30&type=chunk) - The Company aims to maintain a prudent capital structure with a net debt to investment in hotels at cost ratio between the high 20s and low 50s, which was approximately **26.6% at December 31, 2022**, down from 30.6% in 2021[31](index=31&type=chunk) [Competition](index=7&type=section&id=Competition) The company faces intense competition for hotel property investments and within the lodging industry from various entities and alternative marketplaces - The Company faces competition for hotel property investments from institutional funds, private equity, REITs, and hotel companies, some with greater financial resources[32](index=32&type=chunk)[33](index=33&type=chunk) - The lodging industry is highly competitive, with hotels competing on factors like location, brand, rates, and services, including competition from alternative lodging marketplaces[33](index=33&type=chunk) [Seasonality](index=8&type=section&id=Seasonality) Hotel demand is seasonal, with lower revenue and cash flow in the first and fourth quarters, and higher in the second and third - Hotel demand is seasonal, with lower revenue, operating income, and cash flow expected in the first and fourth quarters, and higher in the second and third quarters[34](index=34&type=chunk) [Regulation](index=8&type=section&id=Regulation) Properties are subject to various regulations, including fire, safety, ADA, and environmental compliance, with ongoing assessments for hazardous substances - Properties are subject to various covenants, laws, ordinances, and regulations, including fire, safety, and ADA requirements[35](index=35&type=chunk)[36](index=36&type=chunk) - Compliance with environmental regulations, including potential liability for hazardous substances, is an ongoing concern, with Phase I environmental site assessments conducted for all investments[38](index=38&type=chunk)[41](index=41&type=chunk) [Tax Status](index=9&type=section&id=Tax%20Status) The company maintains REIT taxation status, exempting it from federal income tax on distributed income, while its TRS is subject to corporate income tax - The Company elected REIT taxation status from 2010, which generally exempts it from federal income tax on distributed REIT taxable income, provided it meets specific requirements, including distributing at least 90% of its taxable income annually[42](index=42&type=chunk) - The Company's TRS is subject to federal, state, and local corporate income tax, and is currently under examination by the IRS for 2016 and by New Hampshire for 2018-2019[42](index=42&type=chunk)[43](index=43&type=chunk) [Hotel Management Agreements](index=10&type=section&id=Hotel%20Management%20Agreements) Management agreements with IHM have five-year terms with renewal options, including base fees of 3.0% of gross room revenue and incentive fees - Management agreements with IHM have an initial five-year term, automatically renewing for two successive five-year periods, with early termination options upon hotel sale without fee[45](index=45&type=chunk) - Base management fees are **3.0% of gross room revenue**, with an incentive fee of 10% of net operating income (less fixed costs, base fees, and a return threshold), capped at **1% of gross hotel revenues**[45](index=45&type=chunk)[47](index=47&type=chunk) Management Fees (in thousands) | Year Ended Dec 31, | Management Fees | | :----------------- | :-------------- | | 2022 | $10,133 | | 2021 | $7,156 | | 2020 | $5,289 | [Hotel Franchise Agreements](index=12&type=section&id=Hotel%20Franchise%20Agreements) Franchise fees are calculated as a percentage of gross room revenue, varying by brand, alongside marketing and program fees - Franchise fees are calculated as a specified percentage of gross room revenue, varying by brand (e.g., Hilton brands typically **4.0% franchise/royalty** and **4.0% marketing/program fees**; Marriott brands vary, e.g., Residence Inn **5.5% franchise** and **2.5% marketing**)[50](index=50&type=chunk)[452](index=452&type=chunk) Franchise and Marketing/Program Fees (in thousands) | Year Ended Dec 31, | Fees | | :----------------- | :----- | | 2022 | $23,674 | | 2021 | $16,560 | | 2020 | $11,608 | [Operating Leases](index=13&type=section&id=Operating%20Leases) The company is a lessee under various operating lease agreements for ground, air rights, garage, and office spaces, with significant future payments - The Company is a lessee under ground, air rights, garage, and office lease agreements, all qualifying as operating leases as of December 31, 2022[54](index=54&type=chunk)[430](index=430&type=chunk) - Notable leases include the Residence Inn San Diego Gaslamp (ground lease expiring **2065**) and Hilton Garden Inn Marina del Rey (ground lease expiring **2067**), with monthly and percentage rent payments[52](index=52&type=chunk)[53](index=53&type=chunk)[445](index=445&type=chunk)[404](index=404&type=chunk) Total Future Lease Payments (in thousands) | Year | Amount | | :--- | :----- | | 2023 | $2,093 | | 2024 | $2,115 | | 2025 | $2,186 | | 2026 | $1,894 | | 2027 | $1,272 | | Thereafter | $63,553 | | **Total** | **$73,113** | [Human Capital](index=14&type=section&id=Human%20Capital) The company had 17 employees as of February 2023, focusing on attracting, developing, and retaining diverse talent through competitive pay and benefits - As of February 23, 2023, the Company had **17 employees**, with day-to-day hotel operations managed by third-party companies[61](index=61&type=chunk) - Human capital objectives focus on attracting, developing, and retaining diverse talent through competitive pay, benefits, and a culture of diversity and inclusion[62](index=62&type=chunk) [Corporate Responsibility](index=14&type=section&id=Corporate%20Responsibility) The company is committed to ESG issues, publishing annual reports, implementing energy efficiency initiatives, and promoting diversity, equity, and inclusion - The Company is committed to ESG issues, publishing its annual Corporate Responsibility Report (latest in May 2022) aligned with GRI, SASB, and TCFD standards[63](index=63&type=chunk)[65](index=65&type=chunk) - Initiatives include improving energy efficiency (e.g., LED lighting, smart thermostats, low-flow systems) and community engagement through charitable activities[66](index=66&type=chunk)[67](index=67&type=chunk) - Diversity, Equity, and Inclusion efforts include increasing board diversity (**25% female**, **12.5% underrepresented group members**) and participating in the CEO Action for Diversity and Inclusion™ pledge[68](index=68&type=chunk) [Available Information](index=15&type=section&id=Available%20Information) Annual, quarterly, and current reports are available free of charge on the company's and SEC's websites - Annual, quarterly, and current reports (10-K, 10-Q, 8-K) are available free of charge on the Company's website (www.chathamlodgingtrust.com) and the SEC's website (www.sec.gov)[70](index=70&type=chunk) [Item 1A. Risk Factors](index=16&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from pandemics, financing

Financial Data and Key Metrics Changes - Q3 2022 RevPAR was $150, a 34% increase compared to Q3 2021 and up 1% from Q3 2019, driven by strong leisure demand and business travel recovery [40][41] - Operating margins for same-store hotels reached 50.5%, up 160 basis points from 2019, indicating strong operational efficiency [7][34] - Free cash flow for the quarter was nearly $25 million, up 25% from Q2 2022 and 150% from Q3 2021 [8] Business Line Data and Key Metrics Changes - The portfolio excluding Silicon Valley and Bellevue saw a 4% increase in RevPAR compared to 2019, with ADR growth of 11% offset by a 7% decline in occupancy [26] - Tech-driven hotels in Silicon Valley and Seattle are still recovering, with expectations to surpass 2019 levels in the future [25] Market Data and Key Metrics Changes - Strong demand was noted in primary business travel markets such as Silicon Valley, Seattle, Dallas, and Austin, with group demand also increasing in Dallas, San Diego, and San Antonio [14][27] - Weekday occupancy rose to 79% in Q3, up from 76% in Q2, indicating a recovery in business travel [28] Company Strategy and Development Direction - The company is exploring hotel acquisitions but faces challenges due to a wide bid-ask spread in the current market [10] - Plans for a new hotel development in Portland, Maine, are underway, although the project is expected to take a couple of years to complete [11][52] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of business travel and the potential for continued strong ADR growth in 2023 [13][20] - The company is well-positioned with a strong balance sheet and plans to reinstate dividends in the near future [21][58] Other Important Information - The company has reduced net debt by approximately 40% since the pandemic, achieving the lowest leverage levels in over a decade [8][42] - Capital expenditures for the quarter were $3 million, with plans for renovations at three hotels costing approximately $11 million [39] Q&A Session Summary Question: Trends in Silicon Valley post-intern business - Management noted that while demand is lower than during the intern season, tech clients are still generating room demand, albeit at reduced levels [45][46] Question: Incremental costs and labor costs outlook - Management indicated that headcount remains down about 20% compared to pre-pandemic levels, with expectations for mid-single-digit wage increases in 2023 [47][48] Question: Intern business sustainability and backfilling options - Management is confident that the intern business will continue, and if necessary, they would revert to attracting non-business travel segments [51] Question: Portland development project details - The project is expected to take a couple of years to complete, with significant opportunities anticipated [52] Question: October performance and seasonality - October RevPAR was down compared to September, with expectations for a typical seasonal decline in November and December [54][55] Question: Acquisition opportunities and market conditions - Management highlighted the need for pressure on hotel owners to narrow the bid-ask spread for acquisition opportunities to arise [56] Question: Dividend reinstatement expectations - Management confirmed plans to reinstate dividends, with calculations ongoing to determine the appropriate level [58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-34693 CHATHAM LODGING TRUST (Exact Name of Registrant as Specified in Its Charter) Maryland 27-1200777 (State or Other Jurisdiction of ...

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 TRUST Investor Presentation June 2022 Safe Harbor Disclosure 2 We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, cash flow and plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expr ...