Chatham Lodging Trust Reports Strong Q1 Results
Wednesday May 8th, 2013 - 9:14AM XH
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PALM BEACH, FL—Hotel REIT Chatham Lodging Trust posted strong Q1 results, showing comparable RevPAR up 6.4 percent.
For the quarter, hotel RevPAR rose 4.2 percent to $101 and, excluding a Washington, D.C., hotel that is being refurbished/rebranded, comparable RevPAR grew 6.4 percent.
Adjusted EBITDA increased 9.5 percent to $9.4 million while adjusted FFO improved 55.4 percent to $4.5 million. Adjusted FFO per diluted share rose 23.8 percent to 26 cents.
Chatham currently owns wholly or through its joint venture approximately $1.5 billion of premium-branded, upscale, extended-stay and select-service hotels,
Tags: • Hospitality • Ownership • Quarterly Results •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.