CLDT

WEST PALM BEACH, Fla., Sept. 08, 2026 (GLOBE NEWSWIRE) -- Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that its board of trustees has declared its quarterly common share dividend of $0.10 per share and its quarterly preferred share dividend of $0.41406 per preferred share. Both are payable on October 15, 2026, to shareholders of record as of September 30, 2026. Continued broad strength across key markets propelled August RevPAR growth of 8 percent for Chatham’s 39-hotel portfolio, following RevPAR growth of 9 percent and 10 percent in June and July, respectively. August RevPAR growth at Chatham’s four Silicon Valley hotels surged 32 percent, and at its six recently acquired Midwest hotels, RevPAR accelerated 8 percent. About Chatham Lodging Trust Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. Additional information about Chatham may be found at chathamlodgingtrust.com. Forward-Looking Statement Safe Harbor Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumption and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: national and local economic and business conditions, including the effect on travel of potential terrorist attacks, that will affect occupancy rates at the company’s hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of the company’s indebtedness and its ability to meet covenants in its debt agreements; relationships with property managers; the company’s ability to maintain its properties in a Fourth-class manner, including meeting capital expenditure requirements; the company’s ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; the company’s ability to complete acquisitions and dispositions; and the company’s ability to continue to satisfy complex rules in order for the company to remain a REIT for federal income tax purposes and other risks and uncertainties associated with the company’s business described in the company's filings with the SEC. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date hereof, and the company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 10:30 a.m. ET Chairman, President, and Chief Executive Officer - Jeffrey Fisher Executive Vice President and Chief Operating Officer - Dennis Craven Senior Vice President and Chief Financial Officer - Jeremy Wegner Operator: Good morning, ladies and gentlemen, and welcome to the Chatham Lodging Trust Second Quarter 2026 Financial Results Conference Call. [Operator Instructions]. The call is being recorded on August 4, 2026. I would now like to turn the conference over to Chris Daly. Please go ahead. Chris Daly: Thank you, Matthew. Good morning, everyone, and welcome to the Chatham Lodging Trust's second quarter 2026 results conference call. Please note that many of our comments today are considered forward-looking statements as defined by federal securities laws. These statements are subjects to risks and uncertainties, both known and unknown, as described in our most recent 10-K and other SEC filings. All information in this call is as of August 4, 2026, unless otherwise noted, and the company undertakes no obligation to update any forward-looking statements to conform the statement to actual results or changes in the company's expectations. You can find copies of our SEC filings and earnings release, which contain reconciliations to non-GAAP financial measures referenced on this call, on our website at chathamlodgingtrust.com. Now, to provide you some insight into Chatham's 2026 second quarter results, allow me to introduce Jeff Fisher, Chairman, President, and Chief Executive Officer; Dennis Craven, Executive Vice President and Chief Operating Officer; and Jeremy Wegner, Senior Vice President and Chief Financial Officer. Let me turn the session over to Jeff Fisher. Jeff? Jeffrey Fisher: Thanks, Chris. Appreciate that. And I also appreciate everybody who's joined us today on our call. Lots of good stuff to talk about here. It was a great second quarter, which followed a very good first quarter. And as a result, we have increased our guidance by approximately 20% since the start of the year. It is a pretty simple equation to explain. We combined a great acquisition together with strong operating results and share repurchases. We believe the lodging industry is in the early stages of a protracted upcycle. Of course, we understand the Iran conflict makes the near-term choppy, but we really like the long-term dynamics. Leisure travel remains strong and will continue that way as domestic travelers realize over the last 5 years how much they value those experiences. And of course, for us, it's important to focus on business travel, which is the biggest driver of our portfolio and represents around 75% of our EBITDA. We are really seeing business travel accelerate even more than it has over the last few years at a faster pace. And that's no different than what you've been hearing from the airlines and the hotel brands. On their most recent calls, Delta and United reported corporate travel is up 20% to 35%, with close-in bookings increasing and small to medium-sized businesses' recovery is surging. There's so much business investment happening around the country across many different industries, especially manufacturing and technology, and this is really starting to boost the upscale and mid-scale hotels as these travelers are generally not staying in luxury hotels. I'm sure many of you heard that Hilton on its conference call echoed these same thoughts as they stated the biggest single change they have seen over the last couple of quarters is strong growth in mid-week business transient travel, with very encouraging patterns in small to medium-sized businesses in terms of occupancy gains and their rate growth outstripping what they were seeing from the big corporates. These trends will benefit Chatham more than most of our peers, and as you will hear in the next few minutes, we are seeing great results in our recently acquired 6-hotel portfolio that further validates the demand growth in the small to medium-sized businesses across the manufacturing belt in the Midwest and Southeast. On top of these encouraging demand trends, the supply part of the equation should also benefit existing hotel owners. Construction costs remain quite high, and development is only justified in a few special markets, such as our downtown waterfront Portland, Maine location. On that note, we are excited to have commenced construction on our 130-suite Home2 Suites on what was a surface parking lot adjacent to our Hampton Inn in the heart of the Downtown-Waterfront. The development includes approximately 5,500 square feet of commercial space at the corner of Middle Street and India Street that will be sold. This commercial space is ideally positioned in the heart of the most favorable area of Downtown Portland. Although we are very early in the project, we are anticipating the hotel will open just before the summer of 2028. Total construction costs are expected to be $45 million or $350,000 per room. Proceeds through the sale of the commercial space will reduce our basis. We estimate our unlevered year 2 stabilized yield will be around 11% and will be meaningfully accretive upon its opening. Now let's talk about another great investment that's paying off for our shareholders, our share repurchase plan, which, by the way, we launched in May 2025. We've repurchased another $3 million of stock in the quarter, bringing total purchases to date of over $18 million out of our $25 million plan. Since inception, we've repurchased 2.5 million shares, which equates to approximately 5% of our outstanding shares and units at a price of $7.29, or a corporate NOI cap rate of approximately 10% and hotel NOI cap rate of 11.3%, and an almost 50% discount to our current trading level. Just a great use of free cash flow and obviously a tremendous return for our shareholders. We pause repurchases now, whereas the current share price has rebounded and the valuation disconnect has compressed. As always, we continually evaluate potential acquisitions and weigh whether to use our capital to acquire hotels or repurchase shares, and trust us, we understand the importance of investing our capital wisely. On the acquisition front, I have to highlight the outstanding performance of our recently acquired portfolio of 6 hotels in Missouri, Illinois, and Kentucky. Performance is surpassing our expectations. RevPAR growth accelerated further in the second quarter, up 9% on an even split between occupancy and ADR. Second quarter occupancy was 83%, 200 basis points higher than our portfolio average for the quarter. And July RevPAR jumped another 13%, with occupancy up 9% to 86%, and ADR up 3%. Additionally, the portfolio produced GOP margins of 49.3% in the quarter, 250 basis points higher than our average portfolio average, even though RevPAR is about 20% below our portfolio average, which provides a great look-through into why we like this portfolio, as it combines a strong RevPAR outlook with favorable labor dynamics and lower operating costs per room. Last quarter, we spoke about the recently announced nuclear uranium enrichment facility in Paducah, Kentucky, on the Department of Energy site. And it was announced earlier this week that the Department of Energy is partnering with Brookfield, NextEra, Big Rivers Electric Power Company, and Jackson Purchase Energy Cooperative and the Paducah Power System to invest over $100 billion into a new data center within that same complex. The project is expected to create 8,000 construction jobs and 600 permanent jobs and adds another demand generator for our hotels. Operationally, it was a great quarter for us with RevPAR, margins, EBITDA, and FFO easily beating our expectations for the quarter. RevPAR grew 3%, and we were able to increase our pro forma GOP margins 170 basis points and our hotel EBITDA margins by 220 basis points. Dennis is going to talk about our other larger markets, and I'm going to talk a little bit about our largest market, Silicon Valley, which accounts for 17% of our EBITDA now. We've seen RevPAR grow 18 of the last 21 quarters and 10 of the last 11 quarters, but importantly, our projected 2026 RevPAR growth would be our best gaining year since the pandemic. Silicon Valley's RevPAR growth of 7% boosted our portfolio growth by 40 basis points. And as growth accelerates, given its significance to the portfolio, it amplifies our company's growth. Second quarter ADR was up 10% to a post-pandemic quarterly high of $212. That's for any quarter, not just the second quarter. And our quarterly RevPAR of $164 is our highest RevPAR over the last 6 years. These are great results and very encouraging, again, especially considering the renovation at our Mountain View hotel during the quarter. We are seeing strong corporate demand, especially within the corporate transient segment. And as Dennis quoted in our release, since the beginning of the year, we have seen double-digit demand growth from top accounts such as Applied Materials, Palo Alto Networks, NVIDIA, and Google. And as good as our second quarter was in Silicon Valley, July RevPAR at our 4 hotels was outstanding, accelerating 26%. And within that number, our 2 Sunnyvale hotels rose 41% in July. Of course, massive capital investment announcements continue into technology from all types of companies and, importantly, companies of all sizes, from the largest in the world to small and medium-sized companies, even startups. Of course, Silicon Valley is the heart of the tech world, and we are seeing a strong resurgence. Future announcements keep coming to our markets. For example, just last week, Databricks, the data and AI company, today continues its rapid growth in the Bay Area with its expansion into a new 305,000 square foot office in downtown Sunnyvale, just 2.5 miles from our 2 Residence Inns. And just 2 weeks ago, Amazon announced that it had leased an entire 317,000 square foot building at the Moffett Towers in Sunnyvale and the towers are again only 3.5 miles from both of our hotels. Elsewhere, OpenAI announced they're leasing a 450,000 square foot office complex less than 4 miles from our hotel in Mountain View and also Sunnyvale, and General Motors that currently occupies about 1 million square feet across the valley is considering consolidating some of its auto talent into offices either in -- or near Stanford or Sunnyvale for more space. One more article. The San Francisco Business Times stated that companies are pursuing almost 11 million square feet of office and R&D space in Silicon Valley. Essex Property Trust, one of the largest multifamily REITs in the country, with a lot of exposure to Northern California, especially Silicon Valley and San Francisco, commented on their recent call that Northern California was their best performing market. These are just great trends for our 4 hotels, and given their significance, ultimately, our entire portfolio performance. Compared to 2019, there's still a lot of upside in Sunnyvale and Mountain View, and we fully expect RevPAR to get back to those hotels and then some. Our projected '26 San Mateo Residence Inn RevPAR is about 10% higher than 2019 levels and still growing meaningfully. Mountain View was impacted by renovation in the first and second quarter, so comparing '26 to '19 really isn't relevant for them, but our projected Sunnyvale RevPAR is still about 18% shy of 2019 levels. So returning those 2 big hotels to 2019 levels would add another $3 million of FFO or $0.06 per share. Wrapping up my prepared remarks, looking to the balance of the year, we have increased our annual guidance for the second quarter beat, as well as a modest increase to the second half of the year. Probably a bit of conservatism in our second half outlook, but given the ongoing conflict in the Middle East and little visibility past the next 1 or 2 months, we are assuming low single-digit RevPAR growth similar to Hilton's non-luxury projection. With that, I'd like to turn it over to Dennis. Dennis Craven: Thanks, Jeff. Second quarter RevPAR finished strong, with RevPAR up 9% in June and July advancing 10%. July occupancy rose 5% with ADR up 4%. July RevPAR grew in 35 of our 39 hotels, and 14 of our 39 hotels saw RevPAR gains of over 10%. In fact, June and July RevPAR of $175 and $169 are all-time high marks for each of those respective months. We continue to experience broad demand growth across our portfolio with approximately two-thirds of our hotels generating RevPAR growth, three-fourths of our hotels pushing ADRs higher, and approximately one-fourth of our hotels experiencing double-digit RevPAR gains. This is essentially the same trend from the first quarter and a signal of strength of our portfolio moving forward. Adding to Jeff's commentary on Silicon Valley, July RevPAR was fantastic with RevPAR increasing 26% across all 4 hotels and our 2 Sunnyvale hotels were up 41% with growth attributable to primarily corporate transient demand as the World Cup really didn't have much of an impact there. We hosted 1 game at Levi's Stadium in the month of July. Our top 5 RevPAR hotels in the quarter were our Residence Inn Washington, D.C. with RevPAR of $236, our Residence Inn White Plains with RevPAR of $209, followed by our Marina del Rey Hilton Garden Inn with RevPAR of $206, and rounded out by our Residence Inn San Diego Gaslamp, and Embassy Suites Springfield, and our Hampton Inn Portland, all basically right around $198 for the quarter. The fact that 2 of our top 5 being in the D.C. Metroplex gives you a feeling for how well that market has rebounded after a really tough 2025. Five of our 39 hotels benefited from World Cup related demand. June RevPAR was up almost 12% at these hotels. The impact to the quarter was only basis points to our entire portfolio. So our RevPAR was still up 3% for the quarter, excluding any World Cup impact. Our 7 predominantly leisure hotels generated RevPAR growth of approximately half a point in the quarter. Our Savannah SpringHill Suites continues its hot performance post-renovation last year with growth of 9% in the quarter, while our Hilton Garden Inn Portsmouth saw RevPAR decline 8% in the quarter due to leisure and softness from Canada, obviously some wildfire impact, and a new Homewood Suites that opened earlier this year. Our 3 predominantly government-oriented hotels, all in the greater D.C. area, produced RevPAR growth of 9% in the quarter, same as the first quarter production. As a group, these hotels represent approximately 9% of our EBITDA. Our Springfield Embassy Suites and our Tysons Corner hotels produced RevPAR growth of 14% and 13% respectively. Our 5 convention hotels saw RevPAR decline 5% in the quarter. San Diego RevPAR dropped 9%, which is about what we expected as the 2026 convention calendar for the balance of the year is soft in comparison to prior years. In Texas, our Dallas and Austin hotels have felt the impact of convention demand fall off as well, with those convention centers being under renovation and for ongoing expansions. RevPAR at our Courtyard Dallas was down 3% in the quarter, much better than the 26% in the first quarter, and our comps get better over the last half of the year. Obviously, we benefited some at that hotel from the World Cup media center being located in the convention center downtown. RevPAR at Austin hotels were down less than 3% in the quarter. And as I said, those comps start to get easier as we get through the balance of the year. Switching to our profitability, we had another great quarter managing expenses and maximizing employee productivity, as well as increasing our non-room profits and driving margins higher. We continue to focus on increasing that other operating department revenue and profits, and we were able to increase those profits by about $400,000 or 13% in the quarter. As we mentioned in the release, when you take out the one-time workers' compensation refund, our GOP and our hotel EBITDA margins jumped 170 and 220 basis points respectively, with GOP and EBITDA flow-through of approximately 60%. Taking out the refund, our department expenses were down almost 1% on a CPOR basis, and all hotel operating expenses were only up about 2% on a CPOR basis. Our employee productivity is excellent. For example, coming off a very efficient first quarter, our second quarter occupied rooms were up 13% over the first quarter with headcount only up 4%. There remains really no shortage of available labor. And as a reminder, we do reassess our employee pay every July and the increase for our employees across our hotels averaged approximately 2.5%. Below the GOP line, we received an approximate $300,000 in property tax refunds at our Sunnyvale and Fort Lauderdale hotels that enhanced our EBITDA margins even higher than our GOP margins. For the quarter, our top 5 producers of GOP were led by our Residence Inn San Diego, our Embassy Suites Springfield, and followed by our Sunnyvale Residence Inn, then our Bellevue Residence Inn, and then finally and fifth was our SpringHill Suites Savannah. All 3 of the Silicon Valley hotels that were not under renovation were among our top 11 in EBITDA production. Using hotel EBITDA, our Sunnyvale II Residence Inn led all hotels and all 4 Silicon Valley hotels, as well as our Bellevue Residence Inn, were ranked in our top 10. So clearly, tech hotels are gaining ground. GOP at our 3 non-renovation impacted Silicon Valley hotels were approximately 51%, over 400 basis points higher than our portfolio average. Looking further at the comparable Silicon Valley hotels, which excludes the Mountain View hotel, hotel EBITDA grew a strong 29% year-over-year on a 9% RevPAR increase. Of course, we did benefit from some property tax refunds, but EBITDA margins would still be about 20% higher, excluding those. We discussed last quarter that we'd most likely look to opportunistically sell an asset or 2 this year. Thankfully, we don't have a lot that we want to get rid of, but I do want to let everybody know we are marketing one of our smaller hotels for sale with similar characteristics to the hotels we sold last year, and we would expect proceeds for that sale to be less than $20 million. We hope to have something to announce in that regard when we come back in November for our third quarter earnings call. On the CapEx front, we spent approximately $7 million in the quarter, with our full budget for the year being about $27 million, and we do have 3 hotels scheduled for renovation later this year, those being our Gaslamp Residence Inn, our Hyatt Place Pittsburgh, and our Farmington Homewood Suites. With that, I'll turn it over to Jeremy. Jeremy Wegner: Thanks, Dennis. Good morning, everyone. Our Q2 2026 hotel EBITDA was $35.7 million. Adjusted EBITDA was $32.7 million, and adjusted FFO was $0.48 per share. We were able to generate a GOP margin of 46.8% and hotel EBITDA margin of 40.8% in Q2. GOP margins for the quarter were up 60 basis points from Q2 2025 and hotel EBITDA margins increased 220 basis points. As a reminder, we recorded a $900,000 workers' comp benefit in Q2 2025, so excluding the impact of that, GOP margins would have been up 170 basis points and hotel EBITDA margins would have been up 330 basis points. The Midwest portfolio that we acquired in March generated RevPAR growth of 8.6% and $3.2 million of hotel EBITDA in Q2. Chatham's overall RevPAR growth of 3.3% in Q2 exceeded our expectations going into the quarter, and performance accelerated significantly over the course of the quarter, with June RevPAR up 8.7%. This strong top-line performance has continued into July, where Chatham's RevPAR increased 9.7%. Chatham's balance sheet remains in excellent condition and provides significant flexibility to fund opportunistic growth through accretive acquisitions and the development of the Home2 Portland, Maine. At the end of Q2, Chatham's leverage ratio as defined in our credit facility was only 31.2%, and the company had $225 million of availability under its revolving credit facility. Continuing strong EBITDA growth and meaningful free cash flow after dividends are expected to further enhance our financial flexibility. Turning to our 2026 guidance, we expect RevPAR growth of 1.5% to 3%, adjusted EBITDA of $99.2 million to $102.3 million, and adjusted FFO per share of $1.28 to $1.34 for the full year. We generally expect Chatham's Q3 RevPAR will increase approximately 4%. As a reminder, our 2025 RevPAR pro forma for the impact of the Midwest acquisition would have been $149 in Q3, $129 in Q4, and $140 for the full year in 2025. This concludes my portion of the call. Operator, please open the line for questions. Operator: [Operator Instructions] One moment, please, for your first question. And your first question comes from Gaurav Mehta of Alliance Global Partners. Please go ahead. Your line is open. Gaurav Mehta: I wanted to ask you on the expense management. You talked about labor and productivity. Can you maybe talk about other expense items, maybe insurance costs and any other expense items where you are looking at expense management? Dennis Craven: Hey, Gaurav. This is Dennis. Good morning. I think if you look outside of labor and productivity, and I know we spend a lot of time talking about it, but it is, you know, between labor and benefits, almost 40% of our operating costs. I mean, obviously we have seen, and we've been, you know, seeing some benefits from property tax refunds from really those are from prior years that are finally starting to that we're starting to get the refunds and hopefully you know those continue as we kind of catch up to where we are now at least with the local jurisdictions. Property insurance for us, we were renewed, you know, at the beginning of the year. We've seen that down kind of in the around 10% range for the full year. And if I look, you know, really, if you look at kind of a couple of the other things, utilities, I think we've done a pretty good job over the past of, depending on jurisdictions, we're able to market and to have competitive bids on pricing. We've done a good job of securing kind of longer-term fixed rate contracts in certain markets that have helped mitigate kind of rising utility on the gas and electricity side. And then I think lastly, if you look at our R&M line in total for the year, I think we've done a very good job this year of kind of keeping and investing a lot of dollars in the past. And really, we've seen kind of the fruits of that and a little bit of a decline year-over-year that's benefited our margin. So just a lot of focus in that area as well. Gaurav Mehta: Okay. Second question on the asset you are looking to sell. What's expected use of the proceeds and is that disposition included in the guidance? Dennis Craven: It's not included in the guidance. We typically don't treat it as, and keep it, we typically keep it in our guidance until literally it closes. But I think the short-term use of proceeds is going to be to pay down our credit facility. I think we have, you know, $60 million or $70 million outstanding as we kind of sit here today. So we'll use the proceeds in the short-term to pay down the line. Operator: And your next question comes from Tyler Batory of Oppenheimer. Tyler Batory: First question for me, I really wanted to double click on the July performance in terms of RevPAR up 10%. Is there anything unusual that's going on with the comp year-over-year? And if you could just go through really what was going on contributing to that very strong performance that would be helpful. Dennis Craven: Hey, Tyler. Good morning. I think, yes, I think, listen, it starts with Silicon Valley, and I think it's part of the answer to your second part of that question. If you recall last year when we were reporting on our third quarter earnings call in November, we talked about a decision that we had made regarding one of our top accounts in terms of pricing for some business. And we declined that price reduction. So if you recall, we kind of had a weak third quarter in Silicon Valley last year. So the comps are easier there for Silicon Valley, but certainly, you know, a plus 26% in July, including plus 41% in Sunnyvale at the 2 hotels there was certainly a much bigger surprise from where we would have thought we would have been and what we had underwritten for the balance of the year 3 months ago. I think we certainly have seen a good trend outside of that Mountain View hotel of double-digit increases. But certainly, you know, a plus 26% in Silicon Valley just really helps our portfolio. Tyler Batory: Okay, okay. Thank you for that. And then can you, I mean, I'm not sure if you can bridge for us, just where you are, RevPAR in terms of so far this year through July, and then connect the dots with the full year guide. Not sure if there's anything unique that's going on in the second half of the year. How much of the outlook is maybe a little bit of extra conservatism? Dennis Craven: Yes, I mean, I think I'm not sure I can verbally connect the dots, but I will say that, yes, I think we're, you know, and as Jeff talked about in his prepared remarks, listen, I think we're a little, you know, we're going to be a little conservative here. Obviously, July plus 10% is just fantastic. You know, early, you know, early thoughts into August are good. But, you know, we are kind of just taking the assumption that the rest of the year from September to December is kind of low single digits. So we sure hope that we outperform that, but I think just given that, you know, just the relative risk that's out there and limited visibility, we'll be a little conservative to start. Tyler Batory: Okay. And then a bigger picture question for me, and Jeff or Dennis, I'm not sure who wants to take this. I mean, I just look at the lodging industry, I look at RevPAR performance, really over the last decade or so, there have been periods of time where the business looks like it's really trending in the right direction. It turns out to be a head fake, and certainly nobody has a crystal ball. But, Jeff, in the prepared remarks, you did talk about a protracted upcycle for lodging. So if you could just talk a little bit more about that comment, what gives you that confidence, and when you look at the strength so far this year, what's, from your view, you think really going to contribute to that continuing over the next couple of years? Jeffrey Fisher: Yes, this is Jeff. I think it really revolves around simple supply-demand economics. And in all the years I've been in this business, and I would have to, you know, pull up some charts to validate this, but we are in, you know, or starting to approach the longest period of time where construction starts have really been as low as they have been since the pandemic really, or shortly thereafter. So I think that fundamentally has always meant, as we've seen, RevPAR increases in the upper single digit, as you can remember probably, our double-digit range. Very little supply generally yields to pricing power. You could see our portfolio occupancy is around 81%. I think that in our peak, guys, wasn't it around 83% maybe? So, you know, we're getting to a level here where the ability to charge more, I think, and get the kind of ADR increases that will really push the RevPAR, you know, is coming or already partially in some markets already there. Fundamental GDP and manufacturing growth, highlighted by our Midwest stuff and the performance there being double-digit gainers, obviously feels good. I don't see that slowing down anytime soon. Whether you think AI is a bubble or a non-bubble, guess what? It certainly seems that our Silicon Valley presence is paying off. And I don't really think that's going to pull back anytime soon, nor do I think a 40% RevPAR gain is sustainable either. So it's really lack of construction, prices are high. Other developer friends that I've known for 20, 30 and some 40 years used to build 10, 12, 15 hotels a year as franchisees. Most are building 1 or 2 if that. So in the select service arena, I think that fundamentally really paints a pretty positive picture for us. Dennis Craven: And Tyler, just to add to Jeff's comment about occupancy, if you kind of look over the last 16 years as a public company, our annual occupancy kind of peaked at 81.5% back in 2014. And if you look at kind of the busiest months of the year, which are generally the summer months and October, portfolio occupancy was kind of in the upper 80s and, you know, occasionally might have hit like 90%, but generally speaking, upper 80s. So as Jeff talked about with kind of occupancies now getting into the low to mid-80s, that should continue to gain with that lack of new supply. Tyler Batory: Okay, appreciate that. Last one for me, just on the transaction market, just given that positive fundamental outlook, what's the opportunity set look like for acquisitions? What are you seeing in terms of valuations? What are you seeing in terms of the volume or the number of assets that are out there just overall? Jeffrey Fisher: Yes, I think that, this is Jeff again, I think that as Jeremy indicated, the balance sheet here is pretty strong. We have been very, very careful and always will be, as we said in our prepared remarks, to measure what kind of yield in the longer term we'll get from making an acquisition versus buying our own stock, but those economics have certainly shifted a bit here as the stock price for us and some others has come up, so I think in my short 40-year history doing this, I think that generally means that the pipeline ought to increase. I think that RevPAR trends, if they should continue to be in a positive manner, overall across the country will sort of encourage owners that were on the fence about perhaps recycling their capital or selling property or getting out from under debt maturities that are still out there, or generating money to still do renovations that may be behind as a result still of the post-COVID hangover, end up putting their hotels on the market, and people get, as buyers, a little more bullish. But I'm more or less looking into the future as opposed to saying that all of a sudden, people have put hundreds of hotels on the market and that's all happening now. But it's likely to have certainly positive effects. Transaction market for the balance of this year, second half, ought to be certainly better than the first 6 months of this year. Sorry for the long answer. Operator: [Operator Instructions] And there are no further questions at this time. I would now like to turn the call back over to the speakers for closing comments. Jeffrey Fisher: Well, again, thank you all for being with us today. We certainly look forward to continuing to put the kind of results on. And frankly, I'd like to, for those that are listening anyway, compliment our team and the Island Hospitality team insofar as, forget these Chatham guys, insofar as they've been doing a great job. As far as the results that have been posted, I think everyone honestly has worked real hard. The expense management, as was asked on the first question, I think has been excellent. And we expect to continue to maintain our focus on all fronts, driving RevPAR, driving market share, and driving that incremental revenue to the bottom line. Thank you. Operator: Ladies and gentlemen, this concludes today's conference. We thank you for participating and ask that you please disconnect your lines. Before you buy stock in Chatham Lodging Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chatham Lodging Trust wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $411,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,335,252!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 11, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Chatham Lodging (CLDT) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Chatham Lodging Trust (REIT)? Here are five stocks we like better. Chatham Lodging Trust raised its 2026 outlook after second-quarter results exceeded expectations, including $35.7 million in hotel EBITDA, $32.7 million in adjusted EBITDA and adjusted FFO of $0.48 per share. Full-year adjusted EBITDA is now projected at $99.2 million to $102.3 million, with RevPAR growth of 1.5% to 3%. Operating momentum strengthened significantly: comparable RevPAR rose 3.3% in the second quarter, accelerating to 8.7% in June and 9.7% in July. Silicon Valley and the recently acquired six-hotel Midwest portfolio were major contributors, while hotel EBITDA margin expanded 220 basis points year over year. Chatham began construction on a 130-suite Home2 Suites hotel in Portland, Maine, and has repurchased more than $18 million of stock since May 2025. The company paused further buybacks as its share price recovered and plans to use potential hotel-sale proceeds to reduce its revolving credit facility balance. Chatham Lodging Trust (NYSE:CLDT) raised its full-year outlook after reporting second-quarter results that exceeded its expectations, supported by RevPAR growth, margin expansion, contributions from a recently acquired Midwest portfolio and continued strength in Silicon Valley. Chairman, President and Chief Executive Officer Jeff Fisher said the company has increased its guidance by approximately 20% since the start of 2026, citing “a great acquisition together with strong operating results and share repurchases.” He said Chatham believes the lodging industry is entering the early stages of a prolonged upcycle, although the company remains cautious about near-term uncertainty related to the Iran conflict. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control For the second quarter, Chatham reported hotel EBITDA of $35.7 million, adjusted EBITDA of $32.7 million and adjusted funds from operations of $0.48 per share, according to Senior Vice President and Chief Financial Officer Jeremy Wegner. Comparable RevPAR increased 3.3% from the prior year, exceeding the company’s expectations entering the quarter. Chatham’s RevPAR growth accelerated during the quarter, rising 8.7% in June and 9.7% in July. Executive Vice President and Chief Operating Officer Dennis Craven said July RevPAR increased at 35 of the company’s 39 hotels, while 14 properties posted gains of more than 10%. → Why Rare Earth Processing Could Be the Real 2027 Opportunity July occupancy rose 5% and average daily rate increased 4%, Craven said. June and July RevPAR of $175 and $169, respectively, represented all-time highs for those months, according to the company. Silicon Valley remained a major contributor. The market accounts for approximately 17% of Chatham’s EBITDA, Fisher said, and posted 7% RevPAR growth during the second quarter. July RevPAR across Chatham’s four Silicon Valley hotels increased 26%, including a 41% increase at its two Sunnyvale hotels. → 3 Drone Stocks That Should Soar After the Summer Slump Fisher attributed demand in the region primarily to corporate transient travel and cited double-digit demand growth from accounts including Applied Materials, Palo Alto Networks, NVIDIA and Google. He also pointed to recent office leasing announcements by Databricks, Amazon and OpenAI near the company’s Sunnyvale and Mountain View hotels. Chatham said its second-quarter Silicon Valley average daily rate increased 10% to $212, while quarterly RevPAR reached $164, its highest level in six years. Fisher said the company expects additional upside at its Sunnyvale and Mountain View hotels as performance moves closer to 2019 levels. The six-hotel portfolio in Missouri, Illinois and Kentucky acquired in March produced $3.2 million of hotel EBITDA in the second quarter. The portfolio posted RevPAR growth of 8.6%, while Fisher said its RevPAR rose 9% on an even split between occupancy and average daily rate. The acquired hotels recorded 83% occupancy during the quarter, 200 basis points above Chatham’s portfolio average, and generated gross operating profit margins of 49.3%. Fisher said the properties benefit from favorable labor dynamics and lower operating costs per room, despite RevPAR being about 20% below the companywide average. Management also highlighted a planned data-center development at the U.S. Department of Energy site in Paducah, Kentucky, near one of the acquired properties. Fisher said the project involves more than $100 billion of investment and is expected to create 8,000 construction jobs and 600 permanent jobs. Chatham generated a 46.8% gross operating profit margin and a 40.8% hotel EBITDA margin in the second quarter. Hotel EBITDA margin increased 220 basis points from a year earlier. Excluding the effect of a $900,000 workers’ compensation benefit recorded in the second quarter of 2025, gross operating profit margin would have increased 170 basis points and hotel EBITDA margin would have risen 330 basis points, Wegner said. Craven said employee productivity, property tax refunds, lower insurance costs and expense controls contributed to profitability. He said property insurance costs were down about 10% for the full year, while the company has used longer-term fixed-rate utility contracts in certain markets to help manage energy costs. Chatham has begun construction on a 130-suite Home2 Suites hotel adjacent to its Hampton Inn in downtown waterfront Portland, Maine. The project is expected to cost about $45 million, or approximately $350,000 per room, before proceeds from the planned sale of roughly 5,500 square feet of commercial space. The company expects the hotel to open shortly before summer 2028 and estimates an unlevered stabilized year-two yield of about 11%. The company repurchased another $3 million of stock in the second quarter, bringing total repurchases since the program began in May 2025 to more than $18 million. Chatham has repurchased 2.5 million shares, or about 5% of outstanding shares and units, at an average price of $7.29 per share. Fisher said the company has paused repurchases as its share price recovered and the valuation gap narrowed. Chatham is also marketing one smaller hotel for sale and expects proceeds of less than $20 million. Craven said the potential disposition is not included in guidance and that proceeds would initially be used to reduce the company’s revolving credit facility balance. As of the second quarter, Chatham’s leverage ratio under its credit facility was 31.2%, and it had $225 million of availability on its revolving credit facility, Wegner said. For 2026, Chatham now expects RevPAR growth of 1.5% to 3%, adjusted EBITDA of $99.2 million to $102.3 million, and adjusted FFO of $1.28 to $1.34 per share. The company expects third-quarter RevPAR to increase approximately 4%. Management said its second-half assumptions remain conservative, with low-single-digit RevPAR growth expected from September through December despite the strong July performance. Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Chatham Lodging Trust Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Revenue (RevPAR): Q2 2026 RevPAR grew 3.3%, with June RevPAR up 8.7% and July RevPAR up 9.7%. Adjusted EBITDA: Q2 2026 adjusted EBITDA was $32.7 million. Adjusted FFO: Q2 2026 adjusted FFO was $0.48 per share. Hotel EBITDA: Q2 2026 hotel EBITDA was $35.7 million. GOP Margin: Q2 2026 GOP margin was 46.8%, up 60 basis points year-over-year (up 170 basis points excluding a one-time workers' comp benefit). Hotel EBITDA Margin: Q2 2026 hotel EBITDA margin was 40.8%, up 220 basis points year-over-year (up 330 basis points excluding the workers' comp benefit). Midwest Portfolio RevPAR: The six-hotel Midwest portfolio acquired in March generated RevPAR growth of 8.6% in Q2. Midwest Portfolio Hotel EBITDA: The Midwest portfolio generated $3.2 million of hotel EBITDA in Q2. Silicon Valley RevPAR: Q2 RevPAR grew 7%, with ADR up 10% to a post-pandemic quarterly high of $212. Share Repurchases: Repurchased $3 million of stock in Q2, bringing total purchases to over $18 million (2.5 million shares at $7.29 per share). 2026 Guidance: Expects RevPAR growth of 1.5% to 3%, adjusted EBITDA of $99.2 million to $102.3 million, and adjusted FFO per share of $1.28 to $1.34. Warning! GuruFocus has detected 9 Warning Sign with CLDT. Is CLDT fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Chatham Lodging Trust (NYSE:CLDT) delivered strong Q2 2026 results, with RevPAR growth of 3.3% and significant margin expansion, leading to a 20% increase in full-year guidance since the start of the year. The recently acquired six-hotel Midwest portfolio is outperforming expectations, with Q2 RevPAR up 9% and July RevPAR surging 13%, driven by strong demand from small and medium-sized businesses in the manufacturing sector. Silicon Valley, the company's largest market, is experiencing a robust recovery, with July RevPAR up 26% and strong corporate demand from major tech accounts like Nvidia, Google, and Applied Materials, positioning the portfolio for continued growth. The company's share repurchase program has been highly accretive, with 2.5 million shares bought back at a significant discount to net asset value, representing a 5% reduction in shares outstanding and a strong return on investment. The balance sheet remains in excellent condition with low leverage of 31.2% and $225 million of credit facility availability, providing ample flexibility for future acquisitions and the high-yield Portland, Maine development project. Effective expense management drove strong profitability, with GOP margins up 170 basis points and hotel EBITDA margins up 220 basis points (excluding one-time items), supported by excellent employee productivity and lower property insurance costs. The company's guidance for the second half of 2026 assumes only low single-digit RevPAR growth, reflecting conservatism due to the ongoing conflict in the Middle East and limited forward visibility. Convention-oriented hotels underperformed, with RevPAR declining 5% in Q2 due to a soft convention calendar in San Diego and renovation disruptions at convention centers in Dallas and Austin. Leisure demand showed signs of softness, particularly at the Portsmouth hotel, which saw RevPAR decline 8% due to reduced Canadian travel, wildfire impacts, and new competitive supply. The company has paused its share repurchase program as the stock price has rebounded, reducing the valuation disconnect and limiting the opportunity for further accretive buybacks. The company is marketing one of its smaller hotels for sale, with expected proceeds of less than $20 million, indicating a potential reduction in portfolio scale and a need to recycle capital. The development project in Portland, Maine, carries execution risk, with total construction costs of $45 million and an expected opening in 2028, meaning it will not contribute to earnings for several years. Q: Can you bridge where RevPAR is so far this year through July and connect the dots with the full-year guide? Is there anything unique going on in the second half, and how much of the outlook is extra conservatism? A: Dennis Craven (EVP and COO) stated that while July's 10% RevPAR growth was fantastic and early August trends are good, the company is taking a conservative approach for the remainder of the year. They are assuming low single-digit RevPAR growth from September to December due to limited visibility and relative risk in the market, hoping to outperform this cautious outlook. Q: You mentioned a protracted upcycle for lodging. What gives you the confidence that the current strength will continue over the next couple of years? A: Jeff Fisher (CEO) attributed his confidence to fundamental supply-demand economics, noting that construction starts are at historic lows due to high costs, which limits new supply. He highlighted that with portfolio occupancy around 81% and approaching peak levels, hotels are gaining pricing power. He also cited strong GDP and manufacturing growth, particularly in the Midwest and Silicon Valley, as key demand drivers that are unlikely to slow down. Q: Can you double-click on the July performance in terms of RevPAR up 10%? Is there anything unusual with the comp year-over-year, and what contributed to that strong performance? A: Dennis Craven (EVP and COO) explained that the strong July performance was significantly driven by Silicon Valley, which had easier comparisons due to a pricing decision made last year that impacted Q3 2025 results. The 26% RevPAR increase in Silicon Valley, including a 41% jump at the two Sunnyvale hotels, was a much bigger surprise than underwritten, and this strength helped boost the entire portfolio's performance. Q: On the expense management front, can you talk about other expense items besides labor, such as insurance costs, where you are looking at expense management? A: Dennis Craven (EVP and COO) noted that outside of labor and benefits, which make up almost 40% of operating costs, the company is benefiting from property tax refunds from prior years. Property insurance was renewed at the beginning of the year with a roughly 10% decrease. They have also secured longer-term fixed-rate contracts for utilities to mitigate rising costs, and are seeing a decline in R&M expenses due to past investments. Q: What is the expected use of proceeds from the asset you are looking to sell, and is that disposition included in the guidance? A: Dennis Craven (EVP and COO) confirmed that the sale is not included in the current guidance, as the company typically waits until a deal closes. The short-term use of proceeds will be to pay down the credit facility, which currently has $60 million to $70 million outstanding. Q: Just on the transaction market, given the positive fundamental outlook, what does the opportunity set look like for acquisitions in terms of valuations and volume? A: Jeff Fisher (CEO) stated that with a strong balance sheet, the company is carefully weighing acquisitions against share repurchases, but the economics have shifted as the stock price has rebounded. He expects the transaction pipeline to increase as positive RevPAR trends encourage owners to sell, whether to recycle capital, address debt maturities, or fund renovations. He anticipates the second half of the year will be better than the first six months for transactions. Q: Can you provide more detail on the performance of the recently acquired Midwest portfolio and its impact on results? A: Jeff Fisher (CEO) highlighted that the six-hotel portfolio in Missouri, Illinois, and Kentucky is surpassing expectations. Q2 RevPAR growth accelerated to 9% with an even split between occupancy and ADR, and July RevPAR jumped another 13%. The portfolio achieved GOP margins of 49.3%, which is 250 basis points higher than the portfolio average, driven by strong RevPAR outlook, favorable labor dynamics, and lower operating costs per room. Q: Can you elaborate on the strength in Silicon Valley and the demand drivers behind the recent performance? A: Jeff Fisher (CEO) noted that Silicon Valley, which accounts for 17% of EBITDA, saw RevPAR growth of 7% in Q2, with ADR up 10% to a post-pandemic high of $212. He cited strong corporate demand from top accounts like Applied Materials, Nvidia, and Google, and highlighted major expansion announcements from Databricks, Amazon, and OpenAI near their hotels. July RevPAR accelerated 26%, with the two Sunnyvale hotels up 41%, driven primarily by corporate transient demand. Q: What is the status of the Home2 Suites development in Portland, Maine, and what are the expected returns? A: Jeff Fisher (CEO) announced that construction has commenced on the 130-suite Home2 Suites in downtown Portland, with an expected opening just before summer 2028. Total construction costs are estimated at $45 million, or $350,000 per room, though the sale of approximately 5,500 square feet of commercial space will reduce the basis. The company estimates an unlevered year-two stabilized yield of around 11%, which will be meaningfully accretive upon opening. Q: Can you discuss the performance of the government-oriented and convention hotels, and what are the expectations for the balance of the year? A: Dennis Craven (EVP and COO) reported that the three government-oriented hotels in the DC area produced RevPAR growth of 9% in Q2, with Springfield Embassy Suites and Tysons Corner up 14% and 13%, respectively. However, the five convention hotels saw RevPAR decline 5%, with San Diego down 9% due to a soft convention calendar. In Texas, Dallas and Austin hotels were impacted by convention center renovations, but comps are expected to get easier in the second half of the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Margins Expand, AFFO per Share Surges 22 Percent, July RevPAR Soars 10 Percent, Guidance Raised WEST PALM BEACH, Fla., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced results for the second quarter ended June 30, 2026. Second Quarter 2026 Key Operating Metrics Revenue Per Available Room (RevPAR) – Increased over 3 percent to $158 compared to the 2025 second quarter for the 39 comparable hotels and represents an all-time second quarter high. Occupancy declined 50 basis points to 81 percent, and average daily rate (ADR) rose 390 basis points to $195. Net Income – Earned net income applicable to common shareholders of $6 million compared to net income of $3 million in the 2025 second quarter. Net income to common shareholders per diluted common share was $0.13 versus $0.07 for the same period last year. Hotel Margins – Drove GOP margins 50 basis points higher to 47 percent in the 2026 second quarter. Hotel EBITDA margins rose 220 basis points to 41 percent in the 2026 second quarter. Adjusted EBITDA – Adjusted EBITDA rose over $4 million or 15 percent to $33 million. Adjusted FFO – Improved AFFO per diluted share by 22 percent to $0.48 from $0.39 compared to the 2025 second quarter. AFFO was $24 million for the second quarter of 2026 compared to $20 million for the same period last year. Beginning in 2026, like all other peers, Chatham adds back share-based compensation expense in its calculation of adjusted FFO per share, and prior periods have been recast. The following chart summarizes the consolidated financial results for the three and six months ended June 30, 2026, and 2025, based on all properties owned during those periods, except for RevPAR, which is based on the comparable 39 hotels ($ in millions, except margin percentages and per share data): Second Quarter 2026 Highlights Grew RevPAR over 3 percent, far outperforming an increase of 1.5 percent that factored into the company’s annual guidance. Chatham’s outperformance was driven by strong results in Silicon Valley and the recently acquired six-hotel portfolio, beating underwriting expectations. June’s RevPAR of $175 represents an all-time high for the month. Expanded gross operating profit margins by approximately 50 basis points to 47 percent and hotel EBITDA margins by a strong 220 basis points in the quarter to 41 percent through aggressive expense management, especially with regards to labor and productivity. Repurchased 0.3 million shares in the quarter at an average price of $9.07. Through the end of the second quarter, the company has repurchased 2.5 million shares at an average price of $7.29, which equates to a 10 percent capitalization rate based on 2026 corporate net operating income guidance. Commenced construction of the 130-suite Home2 Suites by Hilton Portland Downtown-Waterfront. Jeffrey H. Fisher, Chatham’s president and chief executive officer, emphasized, “We are really proud of our performance in 2026 as our accomplishments and results prove we are hitting on all cylinders. It was a great second quarter with AFFO per share soaring 22% higher as we combined great operating results with returning additional capital to our shareholders by repurchasing shares. Our total shareholder returns are the best among lodging REITs in 2026.  We are very optimistic about our forward trajectory, and, wow, did our third quarter get off to a great start with RevPAR soaring 10 percent.” Acquisition Portfolio Performance In March, Chatham acquired six, Hilton-branded hotels comprising 589 rooms for $92 million. The acquired portfolio produced RevPAR growth of 9 percent in the second quarter to $135 following a solid 6 percent increase in the first quarter. Second quarter 2026 occupancy was up 4 percent to 83 percent, and ADR was up 5 percent to $163. For the second quarter, the portfolio produced GOP and Hotel EBITDA margins of 49 and 44 percent, respectively. Fisher highlighted, “To say we are pleased with the performance of the portfolio is an understatement. The portfolio is benefitting from expanded investments in manufacturing and distribution, as well as investments in athletic facilities to draw regional events to Paducah and Joplin. Momentum continued in July with RevPAR growth of an incredible 13 percent for the six-hotel portfolio.” Share Buy-Back Plan During the three months ending June 30, 2026, the company repurchased 0.3 million common shares at a weighted-average price per share of $9.07 for an aggregate purchase price, including commissions, of approximately $2.8 million. Through quarter-end, since inception, the company repurchased 2.5 million shares, which equates to approximately 5 percent of outstanding shares/units, at a weighted-average price per share of $7.29, for an aggregate purchase price of approximately $18.4 million under its $25 million plan. Hotel RevPAR Performance The chart below summarizes key hotel financial statistics for the 39 comparable hotels owned as of June 30, 2026, compared to the second quarter of  2025: The chart below summarizes RevPAR statistics by month for the company's 39 comparable hotels: Dennis Craven, Chatham's chief operating officer, commented, “Our second quarter RevPAR growth of more than 3 percent benefitted from strong performance across multiple markets driven by broad-based business and leisure travel demand, including from the World Cup. Our June RevPAR growth of 9 percent was the highest monthly increase since April 2023 and still would have set that mark when removing our World Cup hotels from the equation, as they only added 60 basis points to that growth.” RevPAR performance for Chatham’s largest markets (markets that account for at least five percent of hotel EBITDA contribution over the last twelve months) is presented below: The Residence Inn Mountain View, Ca., was under renovation during April and May. Craven remarked, “Silicon Valley, our largest market, remains one of our hottest markets with RevPAR growth of 9 percent after removing the Mountain View hotel. Our two Sunnyvale hotels experienced RevPAR growth of over 5 percent in the quarter despite some corporate travelers choosing to stay away from the market given the World Cup games held at nearby Levi’s Stadium. Underlying business travel demand has been strong, and we have seen double-digit demand growth from our top accounts in the first half of the year. “In southern California, RevPAR rose 2 percent in the quarter at our three Los Angeles hotels as trends normalized following all the wildfire-related business in early 2025. San Diego RevPAR’s decline is attributable to the expected weaker convention calendar in 2026.” Craven remarked further, “Two of our three New York hotels generated RevPAR growth of over 10 percent, with our Holtsville Residence Inn experiencing RevPAR growth of 31 percent, benefitting from the US Open at Shinnecock. Our Washington, D.C. hotels had a solid quarter with RevPAR up 9 percent as our Embassy Suites Springfield and Residence Inn Tysons Corner, Va., hotels benefitted from growing corporate and government demand.” Hotel Operations Performance The chart below summarizes key hotel operating performance measures for the three months ended June 30, 2026, and 2025. RevPAR is based on the 39 comparable hotels, and all other data is based on all properties owned during that period. Gross operating profit is calculated as Hotel EBITDA plus property taxes, ground rent and insurance (in millions, except for RevPAR and margin percentages): Craven concluded, “GOP and Hotel EBITDA jumped 11 and 16 percent, respectively, attributable to our portfolio acquisition, as well as margin expansion across our entire portfolio. Our GOP margins rose 50 basis points compared to the second quarter of 2025, and our Hotel EBITDA margins advanced 220 basis points. As you may recall, we received an almost $1 million refund in the 2025 second quarter related to our worker’s compensation plan, so our GOP margin expansion would have been 170 basis higher points when you remove that impact. We continue to do a great job managing labor costs, and removing the one-time refund, our labor and benefits on a per occupied room basis increased a mere 3 percent.” Corporate Update The chart below summarizes key financial performance measures for the three months ended June 30, 2026 and 2025. Corporate EBITDA is calculated as hotel EBITDA minus cash corporate general and administrative expenses and is before debt service and capital expenditures. Debt service includes interest expense and principal amortization on its secured debt, as well as dividends on its preferred shares of $2.0 million per quarter. Cash flow before CapEx is calculated as corporate EBITDA less debt service. Amounts are in millions, except RevPAR. Hotel Investments During the second quarter of 2026, the company incurred capital expenditures of approximately $7 million. The company completed the full interior renovation of the Residence Inn Mountain View, Calif., during the second quarter. The company has plans for an extensive redesign of the exterior public space that will provide enhanced guest experience. This work will begin later this year. Chatham’s 2026 capital expenditure budget is approximately $27 million, which includes renovations at three hotels expected to cost approximately $17 million. The three hotels scheduled for renovation in 2026 are the Residence Inn San Diego Gaslamp, Homewood Suites Farmington, Conn., and Hyatt Place Pittsburgh, Pa. Each of these renovations will commence in the fourth quarter. Home2 Suites by Hilton Portland Development During the second quarter, Chatham commenced construction on the 130-suite Home2 Suites by Hilton Portland Downtown Waterfront on the existing parking lot of its Hampton Inn. The company expects the total development costs to be approximately $45 million, inclusive of approximately 5,500 square feet of commercial space that will be sold. The company has incurred costs to date of approximately $1.6 million. The hotel is expected to open during the second quarter of 2028. Capital Markets & Capital Structure As of June 30, 2026, the company had net debt of $407 million (total consolidated debt less unrestricted cash). Total debt outstanding as of June 30, 2026, was $418 million at an average interest rate of 5.8 percent, comprised of $143 million of fixed-rate mortgage debt at an average interest rate of 7.2 percent, $200 million outstanding on its term loan at a rate of 5.1 percent and $75 million outstanding on the company's $300 million revolving credit facility at an interest rate of 5.2 percent. Based on the ratio of the company’s net debt to hotel investments at cost, Chatham’s leverage ratio was approximately 24 percent at June 30, 2026. Dividend In June, the board of trustees declared a quarterly common dividend of $0.10 per share and a preferred dividend of $0.41406 per share, payable on July 15, 2026, to shareholders of record as of June 30, 2026. Guidance The company's guidance reflects the following assumptions: Renovations at the hotels mentioned in this release Floating rate debt based on SOFR forward curve. No additional acquisitions, dispositions, debt or equity issuance. Effective January 1, 2026, the company excludes non-cash share-based compensation from its calculation of Adjusted FFO to make its presentation of this measure consistent with most other public lodging REITs. The company provides guidance but does not undertake to update it for any developments in its business. Achievement of the results is subject to the risks disclosed in the company’s filings with the Securities and Exchange Commission. Earnings Call The company will hold its second quarter 2026 conference call later today at 10:30 a.m. Eastern Time. Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s website, www.chathamlodgingtrust.com, or may participate in the conference call by dialing 1-800-717-1738 or 1-646-307-1865 and referencing Chatham Lodging Trust. A recording of the call will be available by telephone until August 11, 2026, at 11:59 p.m. Eastern Time, by dialing 1-844-512-2921 or 1-412-317-6671, access ID 1117353. A replay of the conference call will be posted on Chatham’s website. About Chatham Lodging Trust Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,610 rooms/suites in 18 states and the District of Columbia. Additional information about Chatham may be found at chathamlodgingtrust.com. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements generally are characterized by the use of the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may” or similar expressions. These forward-looking statements include information about possible or assumed future results of the lodging industry and our business, financial condition, liquidity, results of operations, cash flow and plans and objectives. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, our actual results could differ materially from those set forth in the forward-looking statements. Important factors that could cause our actual results to differ materially from expected results include, but are not limited to: national and local economic and business conditions, including the effect on travel of potential terrorist attacks, that will affect occupancy rates at our hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of our indebtedness and our ability to meet covenants in our debt agreements; relationships with property managers; our ability to maintain our properties in a suitable manner, including meeting capital expenditure requirements; our ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; our ability to complete acquisitions and dispositions; our ability to continue to satisfy complex rules in order for us to remain a REIT for federal income tax purposes; and inaccuracies of our accounting estimates and the uncertainty and economic impact of pandemics, epidemics or other public health emergencies or fear of such events. Given these uncertainties, undue reliance should not be placed on such statements. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect future events or circumstances or to reflect the occurrence of unanticipated events. The forward-looking statements should also be read in light of the risk factors identified in the “Risk Factors” section in our Annual Report on Form 10-K for the year ended December 31, 2025, as updated by our subsequent filings with the SEC under the Exchange Act. Non-GAAP Financial Measures Included in this press release are certain “non-GAAP financial measures,” within the meaning of Securities and Exchange Commission (SEC) rules and regulations, that are different from measures calculated and presented in accordance with GAAP (generally accepted accounting principles). The company considers the following non-GAAP financial measures useful to investors as key supplemental measures of its operating performance: (1) FFO, (2) Adjusted FFO, (3) EBITDA, (4) EBITDAre, (5) Adjusted EBITDA and (6) Adjusted Hotel EBITDA. These non-GAAP financial measures should be considered along with, but not as alternatives to, net income or loss as prescribed by GAAP as a measure of its operating performance. FFO As Defined by Nareit and Adjusted FFO The company calculates FFO in accordance with standards established by Nareit, which defines FFO as net income or loss (calculated in accordance with GAAP), excluding gains or losses from sales of real estate, impairment write-downs, the cumulative effect of changes in accounting principles, plus depreciation and amortization (excluding amortization of deferred financing costs), and after adjustments for unconsolidated partnerships and joint ventures following the same approach. The company believes that the presentation of FFO provides useful information to investors regarding its operating performance because it measures its performance without regard to specified non-cash items such as real estate depreciation and amortization, gain or loss on sale of real estate assets and certain other items that the company believes are not indicative of the property level performance of its hotel properties. The company believes that these items reflect historical cost of its asset base and its acquisition and disposition activities and are less reflective of its ongoing operations, and that by adjusting to exclude the effects of these items, FFO is useful to investors in comparing its operating performance between periods and between REITs that also report using the Nareit definition. The company calculates Adjusted FFO by adjusting FFO for certain additional items that are not addressed in Nareit’s definition of FFO, including other charges, losses on the early extinguishment of debt and similar items related to its unconsolidated real estate entities that it believes do not represent costs related to hotel operations. The company believes that Adjusted FFO provides investors with another financial measure that may facilitate comparisons of operating performance between periods and between REITs that make similar adjustments to FFO. EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA The company calculates EBITDA for purposes of the credit facility debt as net income or loss excluding: (1) interest expense; (2) provision for income taxes, including income taxes applicable to sale of assets; (3) depreciation and amortization; and (4) unconsolidated real estate entity items including interest, depreciation and amortization excluding gains and losses from sales of real estate. The company believes EBITDA is useful to investors in evaluating and facilitating comparisons of its operating performance because it helps investors compare the company's operating performance between periods and between REITs by removing the impact of its capital structure (primarily interest expense) and asset base (primarily depreciation and amortization) from its operating results. In addition, the company uses EBITDA as one measure in determining the value of hotel acquisitions and dispositions. The company calculates EBITDAre in accordance with Nareit guidelines, which defines EBITDAre as net income or loss excluding interest expense, income tax expense, depreciation and amortization expense, gains or losses from sales of real estate, impairment, and adjustments for unconsolidated joint ventures. We believe that the presentation of EBITDAre provides useful information to investors regarding the company's operating performance and can facilitate comparisons of performance between periods and between REITs. The company calculates Adjusted EBITDA by adjusting EBITDA for certain additional items, including other charges, losses on the early extinguishment of debt, amortization of non-cash share-based compensation and similar items related to its unconsolidated real estate entities, which it believes are not indicative of the performance of its underlying hotel properties entities. The company believes that Adjusted EBITDA provides investors with another financial measure that may facilitate comparisons of operating performance between periods and between REITs that report similar measures. Adjusted Hotel EBITDA is defined as net income before interest, income taxes, depreciation and amortization, corporate general and administrative, impairment loss, loss on early extinguishment of debt, interest and other income and income or loss from unconsolidated real estate entities. The company presents Adjusted Hotel EBITDA because the company believes it is useful to investors in comparing its hotel operating performance between periods and comparing its Adjusted Hotel EBITDA to those of its peer companies. Adjusted Hotel EBITDA represents the results of operations for our wholly owned hotels only. Although the company presents FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA because it believes they are useful to investors in comparing the company's operating performance between periods and between REITs that report similar measures, these measures have limitations as analytical tools. Some of these limitations are: FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect the company’s cash expenditures, or future requirements, for capital expenditures or contractual commitments; FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect changes in, or cash requirements for, the company’s working capital needs; FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect funds available to make cash distributions; EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect the interest expense, or the cash requirements to service interest or principal payments, on the company’s debts; Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may need future replacement, and FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect any cash requirements for such replacements; Non-cash compensation is and will remain a key element of the company’s overall long-term incentive compensation package, although the company excludes it as an expense when evaluating its ongoing operating performance for a particular period using Adjusted EBITDA; Adjusted FFO, Adjusted EBITDA and Adjusted Hotel EBITDA do not reflect the impact of certain cash charges (including acquisition transaction costs) that result from matters the company considers not to be indicative of the underlying performance of its hotel properties; and Other companies in the company’s industry may calculate FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA differently than the company does, limiting their usefulness as a comparative measure. In addition, FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA do not represent cash generated from operating activities as determined by GAAP and should not be considered as alternatives to net income or loss, cash flows from operations or any other operating performance measure prescribed by GAAP. FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA are not measures of the company’s liquidity. Because of these limitations, FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. The company compensates for these limitations by relying primarily on its GAAP results and using FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA only supplementally. The company’s consolidated financial statements and the notes to those statements included elsewhere are prepared in accordance with GAAP. The company’s reconciliation of FFO, Adjusted FFO, EBITDA, EBITDAre, Adjusted EBITDA and Adjusted Hotel EBITDA to net income attributable to common shareholders, as determined under GAAP, is set forth below.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance beat was driven by a 'simple equation' of high-performing acquisitions, strong organic operating results, and accretive share repurchases. Management attributes the 7% RevPAR growth in Silicon Valley to a significant resurgence in corporate transient demand from top-tier tech accounts like NVIDIA, Google, and Applied Materials. The recently acquired 6-hotel Midwest portfolio outperformed expectations with 9% RevPAR growth, benefiting from the 'manufacturing belt' demand and favorable labor dynamics that produced superior margins. Business travel, which represents approximately 75% of EBITDA, is accelerating faster than previous years, particularly among small to medium-sized businesses whose rate growth is outstripping large corporates. Supply-side dynamics remain highly favorable as high construction costs limit new development, effectively granting existing owners increased pricing power as occupancy approaches historical peaks. Operational efficiency improved significantly, with hotel EBITDA margins expanding 220 basis points (excluding one-time items) due to disciplined labor management and a 13% increase in non-room profits. Full-year 2026 guidance was increased by approximately 20% since the start of the year, though management maintains 'low single-digit' RevPAR assumptions for Q4 due to geopolitical uncertainty and limited visibility. The Home2 Suites development in Portland, Maine, is expected to open in summer 2028 with an estimated 11% unlevered year 2 stabilized yield, partially funded by the sale of integrated commercial space. Management believes the lodging industry is in the early stages of a 'protracted upcycle' supported by the longest period of low construction starts since the pandemic. Future growth in Silicon Valley remains a key catalyst, with Sunnyvale RevPAR still 18% below 2019 levels; returning to those levels would add an estimated $0.06 per share to FFO. The company plans to opportunistically sell one smaller asset for less than $20 million to pay down the credit facility, focusing capital on higher-yielding opportunities. Share repurchases have been paused as the valuation disconnect has compressed; the program has retired approximately 5% of outstanding shares at a significant discount to current trading levels. A $100 billion data center investment announced for Paducah, Kentucky, is expected to create a massive new demand generator for the recently acquired Midwest portfolio. Renovation impacts at the Mountain View hotel temporarily masked growth in the first half of the year, but the asset is expected to contribute more meaningfully following completion. Geopolitical conflict in Iran is noted as a factor that could make near-term performance 'choppy' despite strong long-term industry fundamentals. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management highlighted property insurance renewals trending 10% lower for the year and the use of long-term fixed-rate utility contracts to mitigate rising energy costs. Property tax refunds from prior years are beginning to materialize, particularly in Sunnyvale and Fort Lauderdale, providing a tailwind to EBITDA margins. The July surge was heavily influenced by a 26% RevPAR increase in Silicon Valley, partly due to easier year-over-year comparisons after the company rejected price reductions from a major account in 2025. While July was 'fantastic,' management is modeling a conservative low single-digit growth rate for the remainder of the year to account for potential macro volatility. The thesis is built on a fundamental supply-demand imbalance; developer friends who previously built 10-15 hotels annually are now building only 1 or 2 due to high costs. Current portfolio occupancy of 81% is nearing the historical peak of 83%, which management believes will trigger significant pricing power in the coming years.

S&P Global Inc. SPGI is scheduled to release second-quarter 2026 results on July 28, before market open. SPGI has a decent history of earnings surprises, having surpassed the Zacks Consensus Estimate in the past three trailing quarters and missing once, with an average surprise of 3.6%. S&P Global Inc. price-eps-surprise | S&P Global Inc. Quote The Zacks Consensus Estimate for revenue is pegged at $3.7 billion, indicating a 2.9% decline from the year-ago quarter’s actual. The consensus mark for revenues from market intelligence is close to $1.3 billion, which is indicated to improve 3.6% year over year. Growth in this segment is likely to have been attributed to product strength, fast-paced AI integration, strategic M&A, and robust commercial sales. Strong renewals and net sales across the franchise are anticipated to have driven subscription revenues. The With Intelligence buyout is expected to have provided a continued impetus to the segment’s growth. For ratings, the Zacks Consensus Estimate for revenues is set at $1.3 billion, a 14.4% jump from the year-ago actuals. Expansion in transactional and non-transactional revenues is anticipated to have improved this segment’s growth. Transactional revenues are likely to have been supported by rising billed issuance, driven by solid investment-grade debt activity. Higher annual fees and strong CRISIL performance are relevant factors expected to have improved non-transactional revenues. The Zacks Consensus Estimate for mobility revenues is set at $473 million, up 8% year over year. Solid subscription momentum, coupled with customer wins across CARFAX and automotiveMastermind, is expected to have supported this segment’s growth. Momentum in subscription adoption and discretionary spending is likely to have aided manufacturing revenues, adding to the segment’s growth. The consensus mark for revenues from indices is pinned at $534.8 million. It is anticipated to improve 19.9% year over year. Asset-linked fees and consistent net inflows into the S&P 500 are expected to have been the primary factors improving the segment’s revenues. Other factors, including high trading volumes, innovation in decentralized finance and robust business demand in data and custom subscriptions, are likely to have contributed to growth. The consensus estimate for earnings per share is set at $4.49, indicating a 1.4% increase on a year-over-year basis. Our proven model does not conclusively predict an earnings beat for S&P Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter. SPGI has an Earnings ESP of 0.00% and a Zacks Rank of 5 (Strong Sell). Here are a few stocks that, according to our model, have the right combination of elements to beat on earnings this time around. Chatham Lodging Trust CLDT: The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is $86.9 million, suggesting an 8.2% year-over-year rise. For earnings, the consensus estimate is kept at 45 cents per share, indicating a 25% uptick from the year-ago quarter’s actual. The company beat the consensus estimate in the trailing four quarters, with an average surprise of 15.6%. CLDT has an Earnings ESP of +2.22% and sports a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here. The company is scheduled to declare second-quarter 2026 results on Aug. 4. Apple Hospitality REIT APLE: The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $393.7 million, indicating year-over-year growth of 2.4%. For earnings, the consensus estimate is 49 cents, suggesting a 4.3% gain from the year-ago quarter’s reported figure. The company beat the consensus estimate in the trailing quarters, with an average of 4.5%. APLE has an Earnings ESP of +2.04% and a Zacks Rank of 1 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 5. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report S&P Global Inc. (SPGI) : Free Stock Analysis Report Chatham Lodging Trust (REIT) (CLDT) : Free Stock Analysis Report Apple Hospitality REIT, Inc. (APLE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

For Immediate ReleaseContact: Chris Daly Dennis Craven Daly Gray Public Relations Chatham Lodging Trust (Media) (Company) [email protected] [email protected] (703) 864-5553 (561) 227-1386 WEST PALM BEACH, Fla., July 13, 2026 (GLOBE NEWSWIRE) -- Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that it will report second quarter 2026 financial results on Tuesday, August 4, 2026, before the opening of the market. That same day at 10:30 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, Dennis M. Craven, executive vice president and chief operating officer, and Jeremy Wegner, senior vice president and chief financial officer, will host a conference call to review second quarter 2026 financial results.Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site, http://chathamlodgingtrust.com/, or may participate in the conference call by dialing 1-800-717-1738 or 1-646-307-1865 and referencing Chatham Lodging Trust. A recording of the call will be available by telephone until August 11, 2026, at 11:59 PM ET, by dialing 1-844-512-2921 or 1-412-317-6671, access ID 1117353. A replay of the conference call will be posted on Chatham’s website.About Chatham Lodging TrustChatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. Additional information about Chatham may be found at chathamlodgingtrust.com. Included in this press release are certain “non-GAAP financial measures,” within the meaning of Securities and Exchange Commission (SEC) rules and regulations, that are different from measures calculated and presented in accordance with GAAP (generally accepted accounting principles). The company considers the following non-GAAP financial measures useful to investors as key supplemental measures of its operating performance: (1) FFO, (2) Adjusted FFO, (3) EBITDA, and (4) Adjusted EBITDA. These non-GAAP financial measures could be considered along with, but not as alternatives to, net income or loss, cash flows from operations or any other measures of the company’s operating performance prescribed by GAAP.

WEST PALM BEACH, Fla., June 05, 2026--(BUSINESS WIRE)--Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that its board of trustees has declared its quarterly common share dividend of $0.10 per share and its quarterly preferred share dividend of $0.41406 per preferred share. Both are payable on July 15, 2026, to shareholders of record as of June 30, 2026. About Chatham Lodging Trust Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. Additional information about Chatham may be found at chathamlodgingtrust.com. Forward-Looking Statement Safe Harbor Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumption and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to: national and local economic and business conditions, including the effect on travel of potential terrorist attacks, that will affect occupancy rates at the company’s hotels and the demand for hotel products and services; operating risks associated with the hotel business; risks associated with the level of the company’s indebtedness and its ability to meet covenants in its debt agreements; relationships with property managers; the company’s ability to maintain its properties in a Fourth-class manner, including meeting capital expenditure requirements; the company’s ability to compete effectively in areas such as access, location, quality of accommodations and room rate structures; changes in travel patterns, taxes and government regulations which influence or determine wages, prices, construction procedures and costs; the company’s ability to complete acquisitions and dispositions; and the company’s ability to continue to satisfy complex rules in order for the company to remain a REIT for federal income tax purposes and other risks and uncertainties associated with the company’s business described in the company's filings with the SEC. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date hereof, and the company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations. View source version on businesswire.com: https://www.businesswire.com/news/home/20260605597236/en/ Contacts Chris DalyDaly Gray Public Relations(Media)[email protected] (703) 864-5553 Dennis CravenChatham Lodging Trust(Company)[email protected] (561) 227-1386

Interested in Chatham Lodging Trust (REIT)? Here are five stocks we like better. Chatham Lodging Trust said first-quarter results beat expectations, with RevPAR up 1%, hotel EBITDA at $21.4 million, and margins improved by expense controls and property tax refunds. Silicon Valley was the standout market, as RevPAR surged 23% excluding the renovated Mountain View hotel, driven by tech and AI-related demand; management expects mid- to upper-single-digit RevPAR growth there for the rest of the year. The company also boosted its growth outlook after closing a $92 million acquisition of six Hilton-branded hotels and continued aggressive share buybacks, while raising its common dividend by 11% and updating 2026 guidance higher. Chatham Lodging Trust (NYSE:CLDT) executives said the hotel REIT delivered a stronger-than-expected first quarter, supported by improving demand in Silicon Valley, expense controls, a recently closed acquisition and ongoing share repurchases. Chairman, President and Chief Executive Officer Jeff Fisher said the company has increased its 2026 guidance by approximately 15% since February, citing “strong operating results,” an accretive acquisition and a better outlook for the rest of the year. Chatham also raised its common dividend by 11% in the first quarter, following a 28% increase in 2025. Fisher said the dividend remains well covered, with a common dividend-to-FFO payout ratio of 32% based on updated guidance. → Uber's Annual Product Showcase Reveals It Is Coming for Airbnb and Booking “We will reevaluate the quarterly dividend later this year,” Fisher said. Senior Vice President and Chief Financial Officer Jeremy Wegner said first-quarter hotel EBITDA was $21.4 million, adjusted EBITDA was $18.4 million and adjusted FFO was $0.20 per share. Chatham generated a GOP margin of 42.2% and a hotel EBITDA margin of 31.8% in the quarter. → Wells Fargo’s Comeback Is Real—But Not Risk-Free Wegner said GOP margins rose 60 basis points from the prior-year period, helped by expense controls. Hotel EBITDA margins increased by 140 basis points, reflecting both expense management and $500,000 of property tax refunds. On a comparable basis, Fisher said hotel EBITDA rose 5% and hotel EBITDA margins improved 135 basis points. RevPAR finished the quarter up 1%, exceeding the company’s expectations, after moving from a 5% decline in January to 1% growth in February and 5% growth in March. Fisher noted that the company faced difficult comparisons because of wildfire-related demand at its Los Angeles hotels in the prior year. → Rocket Lab Posts Record Q1 Revenue, Raises Q2 Guidance Executive Vice President and Chief Operating Officer Dennis Craven said Chatham’s labor and benefits costs declined more than 1%, or $0.50 per occupied room, in the quarter. He said the company also benefited from lower property insurance renewal rates and property tax refunds, which helped offset an approximately 12% increase in utility costs at comparable hotels. Executives highlighted Silicon Valley as Chatham’s strongest market during the quarter. Fisher said RevPAR at the company’s Silicon Valley hotels increased 23% when excluding the Mountain View hotel, which was under significant renovation. Occupancy at the four Silicon Valley hotels was 72%, flat from the prior year despite the renovation disruption, while average daily rate rose 10% to $210, which Fisher described as a post-pandemic quarterly high. For the three Silicon Valley hotels not under renovation, RevPAR increased by double digits in each month of the quarter and rose another 12% in April, Fisher said. He pointed to demand from technology customers and large-scale investment in artificial intelligence infrastructure, semiconductors and other technology-related areas. Craven said comparable Silicon Valley hotel EBITDA grew 35% year over year on a 23% RevPAR increase, excluding the effect of a property tax refund. Including the refund, hotel EBITDA growth was approximately 50%. In response to an analyst question, Craven said Chatham is projecting mid- to upper-single-digit RevPAR growth for the four Silicon Valley hotels for the balance of the year, from May through December. He said that outlook may be conservative compared with the performance over the first four months of the year. Chatham closed in early March on the acquisition of six Hilton-branded hotels totaling 589 rooms for $92 million. Wegner said the acquisition was funded with borrowings on the company’s revolving credit facility, which currently carries a rate of approximately 5.1%. Fisher said the portfolio is immediately accretive to Chatham’s operating margins, FFO and FFO per share. He said the hotels have an average age of approximately 10 years, with 66% of the rooms in extended-stay formats. The properties are located in markets benefiting from manufacturing and distribution investment, including Joplin, Missouri; Paducah, Kentucky; and Effingham, Illinois. Craven said the acquired portfolio generated RevPAR growth of 6% in the first quarter and 7% in April, slightly above underwriting expectations. Occupancy in the first quarter was 74%, about 200 basis points higher than Chatham’s portfolio average. He said the hotels have limited near-term capital needs, with only one hotel, the Hampton Inn & Suites Paducah, scheduled for renovation over the next two years. During the question-and-answer session, Craven said the transaction was brokered and sent to a group of potential buyers. He said the portfolio’s performance was not “meaningfully above” underwriting, but RevPAR was about $1 to $2 better than expected. Chatham continued repurchasing shares during and after the quarter. Fisher said the company had repurchased 2.2 million shares through the end of the first quarter, representing approximately 4% of common equity, at an average price of $7.04. Craven said Chatham bought approximately 200,000 additional shares in April at about $8.34 per share. Craven said Chatham implemented a $25 million repurchase plan in 2025 and intends to complete the program this year, supported by projected free cash flow of approximately $20 million in 2026. He said the company expects to reevaluate a new plan in the coming months. Chatham also continues to consider asset recycling. In response to an analyst question, Craven said the company may try to sell one or two assets over the balance of the year, with proceeds potentially used for additional share repurchases or new acquisitions. Wegner said Chatham’s leverage ratio, as defined in its credit agreement, was 32.5% after the acquisition. He said the company’s balance sheet leaves it positioned to repurchase shares, pursue the planned development of a hotel in Portland, Maine, and consider additional accretive acquisitions. For full-year 2026, Chatham expects RevPAR growth of 0% to 2%, adjusted EBITDA of $95.3 million to $99.6 million and adjusted FFO per share of $1.21 to $1.29, Wegner said. The guidance includes the contribution from the six-hotel acquisition beginning March 3, but does not include future share repurchases or acquisitions. The company expects second-quarter RevPAR to increase approximately 1% to 2%. Craven said Chatham is taking a measured approach to forecasting the impact of the World Cup, despite exposure in markets including Dallas, San Francisco, Los Angeles, Seattle and Fort Lauderdale. Chatham expects to begin its Portland, Maine hotel development during the current quarter, Fisher said, with an opening before the fall season of 2028. The company plans to provide a detailed breakdown of total spending and timing on its second-quarter earnings call. Craven said 2026 capital expenditures are expected to total approximately $27 million. Chatham completed the full renovation of its Residence Inn in Austin and the rooms portion of the Mountain View renovation during the first quarter. Later this year, renovations are expected to begin at the Gaslamp Residence Inn, Hyatt Place Pittsburgh and Homewood Suites Farmington. Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Chatham Lodging Trust Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.