Chatham Lodging Trust (CLDT) Tops Q2 EPS by 19c

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Go back to Chatham Lodging Trust (CLDT) Tops Q2 EPS by 19c

Chatham Lodging Trust Announces Second Quarter 2020 Results

August 5, 2020 6:30 AM EDT

Cash Burn Significantly Better than Expected, Liquidity Runway of 41 Months

WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- 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, 2020.

Second Quarter 2020 Operating Results

Portfolio Revenue per Available Room (RevPAR) Declined 77 percent to $33, compared to the 2019 second quarter. Average daily rate (ADR) decreased 43 percent to $98, and occupancy dropped 59 percent to 34 percent. Net... More