Chatham Lodging Trust reported a total revenue of $317.2 million for the fiscal year ending December 31, 2024, reflecting a 2% increase from $311.1 million in 2023. The growth was primarily driven by a 2.8% increase in same-property revenue per available room (RevPAR) and the acquisition of a hotel in Phoenix, Arizona, which contributed $3.3 million in room revenue. However, this was partially offset by a decrease in revenue from three hotels sold during the year, which collectively contributed $10.4 million in room revenue in 2024, down from $16.7 million in 2023. The company’s net income rose to $4.0 million, compared to $2.5 million in the previous year.
In terms of operational metrics, the company reported an occupancy rate of 76.3% for its same-property hotels, up from 74.5% in 2023. The average daily rate (ADR) increased slightly to $181.78, contributing to a RevPAR of $138.71, which was a 2.8% increase from the previous year. The total number of hotels owned by Chatham remained at 37, with a total of 5,596 rooms across 16 states and the District of Columbia as of December 31, 2024.
Strategically, Chatham Lodging Trust made significant changes to its portfolio, including the acquisition of the Home2 Suites Phoenix Downtown for $43.3 million and the sale of three hotels in Denver, Maitland, and Bloomington. The company’s leverage ratio improved to approximately 23.1% from 24.8% in the previous year, with total debt standing at $409.2 million at an average interest rate of 6.8%. The company also reported a total of 17 employees as of February 26, 2025, with all hotel operations managed by Island Hospitality Management, LLC, which is wholly owned by the company’s CEO, Jeffrey H. Fisher.
Looking ahead, Chatham Lodging Trust anticipates continued modest growth in the lodging industry, with expectations for RevPAR to increase further in 2025. The company plans to invest approximately $25.7 million in renovations and improvements across its hotel portfolio in the coming year. However, it remains cautious about potential inflationary pressures and the competitive landscape of the lodging industry, which could impact its operational performance and financial results.
About Chatham Lodging Trust
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.