Chatham Lodging Trust

Listed Company

CLDTCIK 0001476045NYSEAcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$295.07M

Net Income

$15.05M

Total Assets

$1.17B

Equity

$740.80M

Shares Out

47.25M

Op. Cash Flow

$64.08M

Business

Chatham Lodging Trust is a real estate investment trust that acquires, owns and invests primarily in upscale extended-stay and premium-branded select-service hotel properties. It offers hotel accommodations and related hospitality services through franchise-branded extended-stay, all-suite and select-service hotels operated under third-party management agreements. The company conducts its business through an internally managed operating partnership structure, leasing properties to taxable REIT subsidiary lessees and engaging third-party managers (including a related-party manager) under management and franchise agreements. Its hotels are located across multiple U.S. states and distributed through national franchise brands and third-party management channels.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Reimbursable costs from related parties	1	1	1	—	—
Total revenue	295	317	311	—	—
Depreciation and amortization	60	61	58	59	54
Impairment loss	0	4	4	—	—
Property taxes, ground rent and insurance	22	24	24	21	24
General and administrative	17	18	18	—	—
Other charges	27,000	327,000	2	—	711,000
Reimbursable costs from related parties	1	1	1	—	—
Total operating expenses	269	290	283	261	221
Operating income before gain on sale of hotel properties	27	28	29	—	—
Gain on sale of hotel properties	14	6	18,000	0	24
Operating income	41	33	29	36	−17
Interest and other income	270,000	2	2	—	—
Interest expense, including amortization of deferred fees	−26	−31	−27	−26	—
Loss on early extinguishment of debt	−174,000	−17,000	−696,000	−138,000	0
Gain from partial lease termination	0	0	164,000	0	0
Income before income tax expense	15	4	2	10	−19
Income tax expense	0	0	0	0	0
Net income	15	4	2	10	−19
Net (income) loss attributable to non-controlling interest	−260,000	131,000	156,000	−66,000	435,000
Net income attributable to Chatham Lodging Trust	15	4	3	10	−18
Preferred dividends	−8	−8	−8	−8	−4
Net income (loss) attributable to common shareholders	7	−4	−5	2	−22
Net income (loss) attributable to common shareholders (Note 10) (in dollars per share)	0.14	−0.08	−0.11	0.04	−0.46
Net income (loss) attributable to common shareholders (Note 10) (in dollars per share)	0.14	−0.08	−0.11	0.04	−0.46
Basic (in shares)	49	49	49	49	48
Diluted (in shares)	50	49	49	49	48
Dividends declared (in dollars per share)	0.36	0.28	0.28	0.07	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real Estate Investment Property, Net	1,107	1,198	1,228	1,264	1,283
Cash and cash equivalents	24	20	68	26	19
Restricted cash	8	10	18	19	11
Right of use asset, net	17	18	18	19	20
Hotel receivables (net of allowance for doubtful accounts of $261 and $300, respectively)	3	3	—	—	—
Deferred costs, net	7	4	4	6	5
Prepaid expenses and other assets	4	3	4	3	3
Total assets	1,170	1,255	1,344	1,344	1,411
Mortgage debt, net	141	157	—	—	439
Revolving credit facility	0	110	0	0	70
Unsecured term loan, net	197	140	90	0	—
Accounts payable and accrued expenses (including $234 and $490 due to related parties, respectively)	27	30	29	29	28
Operating and Finance Lease, Liabilities	20	21	—	—	—
Distributions payable	7	6	5	5	2
Total liabilities	392	463	540	526	597
Commitments and contingencies (see note 13)	—	—	—	—	—
Preferred shares, $0.01 par value, 100,000,000 shares authorized; 4,800,000 and 4,800,000 shares issued and outstanding at December 31, 2025 and 2024, respectively	48,000	48,000	48,000	48,000	48,000
Common shares, $0.01 par value, 500,000,000 shares authorized; 47,708,587 and 48,912,293 shares issued and outstanding at December 31, 2025 and 2024, respectively	477,000	489,000	488,000	488,000	487,000
Additional paid-in capital	1,040	1,047	—	—	—
Accumulated deficit	−300	−289	−272	−253	−251
Total shareholders equity	741	758	776	795	798
Noncontrolling interest in operating partnership	37	34	—	—	—
Total equity	778	792	804	818	814
Total liabilities and equity	1,170	1,255	1,344	1,344	1,411

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of investment in hotel properties	60	61	58	59	—
Amortization of deferred franchise fees	200,000	200,000	200,000	—	—
Amortization of deferred financing fees included in interest expense	1	1	1	1	2
Write-off of hotel development costs included in other charges	0	0	2	—	—
Loss on early extinguishment of debt	174,000	17,000	672,000	—	—
Gain (Loss) on write-off of deferred franchise fee	0	50,000	0	—	—
Share based compensation	6	6	6	6	5
Right of use asset	635,000	593,000	625,000	—	—
Hotel receivables	92,000	1	803,000	—	—
Deferred costs	−1	−271,000	−102,000	−175,000	−327,000
Prepaid expenses and other assets	−1	942,000	−382,000	−764,000	−526,000
Accounts payable and accrued expenses	−3	256,000	1	460,000	6
Lease liability	−541,000	−159,000	−604,000	—	—
Net cash provided by operating activities	64	74	76	72	29
Improvements and additions to hotel properties	−25	−31	−28	—	—
Acquisition of hotel properties, net	0	−44	0	—	—
Proceeds from sale of hotel properties, net	70	46	0	80	0
Payments of franchise application costs	−110,000	−700,000	0	—	—
Net cash provided by (used in) investing activities	45	−29	−28	30	−102
Borrowings on revolving credit facility	15	150	0	—	—
Repayments on revolving credit facility	−125	−40	0	−110	−155
Repayments on construction loan	0	0	−39	0	0
Borrowings on unsecured term loan	200	50	90	0	0
Repayments on unsecured term loan	−140	0	0	—	—
Repayments of mortgage debt	−16	−297	−118	—	—
Proceeds from the issuance of mortgage debt	0	60	83	—	—
Principal payments on finance lease	−26,000	−15,000	0	0	—
Payments of financing costs	−6	−1	−1	−3	−736,000
Payment of offering costs on common shares	0	−278,000	−2,000	—	—
Proceeds from issuance of common shares	54,000	53,000	61,000	57,000	25
In-substance repurchase of vested common shares	−5,000	0	0	—	—
Repurchases of common shares	−9	0	0	—	—
Distributions - common shares/units	−18	−14	−14	−147,000	−282,000
Distributions - preferred shares	−8	−8	−8	−8	−2
Net cash used in financing activities	−107	−101	−8	−86	72
Net change in cash, cash equivalents and restricted cash	3	−56	41	15	−2
Cash paid for interest	24	29	25	25	26
Cash paid for taxes	637,000	871,000	930,000	—	—
Remeasurement of right of use asset from partial lease termination	0	0	531,000	—	—
Remeasurement of lease liability from partial lease termination	0	0	695,000	—	—

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