Chatham Lodging Trust (CLDT) Misses Q4 FFO by 2c/Share

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Chatham Lodging Trust (CLDT) Completes $90M Acquisition of Residence Inn San Diego Downtown-Gaslamp Quarter

February 26, 2015 8:52 AM EST

Chatham Lodging Trust (NYSE: CLDT) announced that it has completed the previously announced acquisition of the 240-room Residence Inn San Diego Downtown-Gaslamp Quarter for $90 million, or approximately $375,000 per room.

Having invested approximately $500 million into new hotel investments in 2014, our outlook on the industry remains bullish, and we expect to continue acquiring hotels in 2015 that meet our strict underwriting criteria, said Jeffrey H. Fisher, chief executive officer, Chatham Lodging Trust. The Residence Inn is ideally located in the heart of the Gaslamp Quarter, just a block away... More