Chatham Lodging Trust SEC 10-Q Report
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Chatham Lodging Trust, a real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, reflecting the challenges and strategic decisions made during the period.
Financial Highlights
- Total Revenue: $80.3 million, decreased by 7.2% compared to the same period in 2024 due to a decrease in same property RevPAR and the sale of five hotels.
- Operating Income: $11.5 million, reflecting a decrease from the previous year due to lower revenue and inflationary cost pressures.
- Net Income: $5.5 million, down from $7.0 million in the same period in 2024, primarily due to decreased revenue and increased costs.
- Net Income Attributable to Common Shareholders: $3.4 million, reflecting a decrease from the previous year.
- Net Income (Loss) Per Common Share - Basic: $0.07, compared to $0.10 in the same period in 2024.
- Net Income (Loss) Per Common Share - Diluted: $0.07, consistent with the basic earnings per share.
Business Highlights
- Revenue Segments: The company's revenue primarily comes from room revenue, which accounted for 91.4% of total revenue for the three months ended June 30, 2025. Food and beverage revenue and other operating revenue, including parking and meeting room fees, also contribute to the total revenue.
- Geographical Performance: The company sold five hotels in various locations, including Houston, TX, and Brentwood, TN, which impacted revenue. The acquisition of a hotel in Phoenix, AZ, contributed positively to revenue.
- Sales Units: The company owned 34 hotels with an aggregate of 5,166 rooms as of June 30, 2025. The occupancy rate for the same property hotels was 81.5% for the three months ended June 30, 2025.
- Future Outlook: The company anticipates limited visibility toward industry performance for the remainder of 2025, with a focus on maintaining a leverage ratio in the low 20s to low 50s. The company plans to continue acquiring quality assets at attractive prices and improving returns through asset management and hotel management.
SEC Filing: Chatham Lodging Trust [ CLDT ] - 10-Q - Aug. 06, 2025