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Stock impact report

Chatham Lodging Trust acquires new hotel in Phoenix, US [Yahoo! Finance]

Chatham Lodging Trust (REIT) Common Shares of Beneficial Interest (CLDT) 
Last chatham lodging trust (reit) common shares of beneficial interest earnings: 2/26 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
This is projected to generate revenue per available room (RevPAR) of more than $150 upon stabilisation and an estimated net operating income (NOI) yield of over 9%. The purchase was funded using proceeds from the sale of the Denver Tech hotel earlier in the first quarter, supplemented by available cash. Home2 Suites by Hilton Phoenix Downtown will be managed by Island Hospitality Management, a company owned by Chatham Lodging Trust CEO Jeffrey H Fisher. Fisher said: “This is Chatham's first acquisition in more than two years and fits our long-term growth strategy to acquire younger, premium-branded, high-quality hotels in infill locations with diverse demand generators. “The hotel further diversifies our portfolio by adding an underrepresented geographic area and increases our exposure to segments of travellers other than purely business transient.” The six-storey hotel incorporates the Fuller Paint Company Building, which now contains the hotel's customised public spaces, Show less Read more
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