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Mar 31, 2023
Chatham Q1 2023 Earnings Report
Chatham Lodging Trust's financial performance improved with RevPAR growth and margin expansion.
Key Takeaways
Chatham Lodging Trust reported strong first quarter results with significant growth in RevPAR, adjusted EBITDA, and adjusted FFO. The company's portfolio benefited from the recovery of business travel, particularly in tech-driven markets, and strategic debt repayments.
Portfolio RevPAR increased by 28% to $116 compared to Q1 2022, driven by a 14% increase in ADR and a 13% increase in occupancy.
Adjusted EBITDA advanced 34% to $17.8 million, and adjusted FFO jumped 123% to $7.9 million.
Hotel EBITDA margins improved to 31% in Q1 2023 from 29% in Q1 2022.
The company repaid $73 million in mortgages with available cash and proceeds from a newly issued term loan.
Forward Guidance
Due to uncertainty surrounding the hotel industry, the company is not providing guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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