Chatham Lodging Trust (NYSE: CLDT today announced that the company has acquired in an off-market transaction two hotels comprising 269 rooms at the Domain in Austin, Texas, for $71.2 million, or approximately $265,000 per room.
Portfolio Revenue Per Available Room (RevPAR) – Increased 170 percent to $87, compared to the 2020 second quarter. Average daily rate (ADR) rose 32 percent to $127, and occupancy jumped 105 percent to 68 percent for the 39 comparable hotels owned as of June 30, 2021. All Chatham hotels remained open throughout the pandemic.
Chatham Lodging Trust (NYSE: CLDT) announced the sale of its 10.3 percent interest in the Innkeepers joint venture with Colony Capital for $2.8 million.
Chatham Lodging Trust (NYSE: CLDT) yesterday announced the passing of Jack P. DeBoer, who served as a board member for Chatham since its initial public offering in 2010, as well as board member of Innkeepers USA Trust for approximately 10 years.
All Chatham hotels have remained open throughout the pandemic. For the 39 comparable hotels owned as of December 31, 2020, RevPAR declined 60 percent to $47, compared to the 2019 fourth quarter. Average daily rate (ADR) decreased 34 percent to $104, and occupancy dropped 40 percent to 45 percent.
Portfolio Revenue per Available Room (RevPAR) – Declined 77 percent to $33, compared to the 2019 second quarter. Average daily rate (ADR) decreased 43 percent to $98, and occupancy dropped 59 percent to 34 percent.
Portfolio Revenue per Available Room (RevPAR) – Declined 21.8 percent to $96, compared to the 2019 first quarter. Average daily rate (ADR) decreased 5.2 percent to $153, and occupancy dropped 17.5 percent to 63 percent.
Chatham Lodging Trust (NYSE: CLDT) yesterday announced actions it is taking to address the operating and financial impact of the COVID-19 (coronavirus) pandemic.
While Chatham’s February hotel room revenue outperformed its expectations by $0.1 million, the company believes that the impact from COVID-19 most likely will result in the company not achieving the previously provided guidance for net income, RevPAR, Adjusted EBITDA, Adjusted FFO and Adjusted FFO per share.