PALM BEACH, FL—Chatham Lodging Trust justannounced second quarter results. The hotel REITposted $47.10 million in revenues for the quarter, beating thestreet's estimate of $43.82 million.
The hotel REIT also increased hotel RevPAR 9.6%to $133 for Chatham's 29 wholly owned hotels inthe quarter and grew hotel RevPAR 8%, excluding the Residence InnWashington, D.C. hotel, which was without a brand for the entire2013 first quarter.
Jeffrey H. Fisher, Chatham's president and CEO,says 2014 is shaping up to be a “terrific year” as the companyfollowed up a “great” first quarter with a “phenomenal” secondquarter which produced industry-leading RevPAR growth of 9.6% anddrove more expansion of the hotel REIT's marginsby 350 basis points to 43.6%.
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