TradingViewTradingView

Chatham Lodging Trust SEC 10-Q Report

2 minuti di lettura

Chatham Lodging Trust, a real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, has released its Form 10-Q for the first quarter of 2025. The report highlights significant improvements in both financial and operational performance, reflecting the company's strategic initiatives and market recovery post-COVID-19.

Financial Highlights

  • Total Revenue: $68.6 million, marking a 0.3% increase compared to the same period in 2024, primarily driven by a 3.8% increase in same property RevPAR.
  • Operating Income: $8.3 million, a significant rise from $0.977 million in the same period in 2024, attributed to gains on the sale of hotel properties.
  • Net Income: $1.5 million, a notable improvement from a net loss of $5.5 million in the same period in 2024, primarily due to gains on the sale of hotel properties and enhanced operating performance.
  • Net Loss Attributable to Common Shareholders: $(0.451) million, an improvement from a net loss of $(7.212) million in the same period in 2024.
  • Loss per Common Share - Basic: $(0.01), improved from $(0.15) in the same period in 2024.
  • Loss per Common Share - Diluted: $(0.01), improved from $(0.15) in the same period in 2024.

Business Highlights

  • Revenue Segments: The company's revenue primarily comes from room sales, which accounted for 90.9% of total revenue for the three months ended March 31, 2025. Other revenue sources include food and beverage and other operating revenues such as parking and meeting room rentals.
  • Geographical Performance: Chatham Lodging Trust operates 35 hotels across 15 states and the District of Columbia. The performance of these hotels is evaluated as a single reportable segment due to their similar economic characteristics and services offered.
  • Sales Units: As of March 31, 2025, the company owned 35 hotels with an aggregate of 5,356 rooms. The occupancy rate for the same property hotels increased to 72.1% for the three months ended March 31, 2025, compared to 69.3% for the same period in 2024.
  • Future Outlook: The company anticipates continued recovery in business travel following the COVID-19 pandemic, with a focus on maintaining a leverage ratio in the low 20s to low 50s. Chatham Lodging Trust plans to invest approximately $18.6 million on renovations and improvements during the remainder of 2025.

SEC Filing: Chatham Lodging Trust [ CLDT ] - 10-Q - May. 06, 2025