Chatham Lodging Trust Provides Update on First Quarter and Full Year 2020 Guidance
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
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Source: Business Wire
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 and owns 134 hotels wholly or through joint ventures, today announced that due to uncertainty related to the impact on travel arising from the COVID-19 virus outbreak, the company is withdrawing its first quarter and full-year 2020 guidance.In conjunction with Chatham’s release of Q4 2019 earnings on February 26, 2020, Chatham provided first quarter and full-year 2020 guidance for certain operational and earnings metrics. Included in this guidance was approximately $0.2 million of lost revenue from customer cancellations due to COVID-19. Since the time this guidance was provided, the company has seen a significant increase in customer cancellations and softer travel trends.While Chatham’s February hotel room revenue outperformed its expectations by $0.1 million, the company
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- 11/7/24 - In-Line
CLDT
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