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Jun 30, 2023
Chatham Q2 2023 Earnings Report
Chatham's second quarter performance saw RevPAR outperform industry growth, driven by recovering business travel and effective cost management.
Key Takeaways
Chatham Lodging Trust reported a positive second quarter in 2023, with RevPAR increasing by 5% to $144. Net income was $9.4 million, and Adjusted EBITDA advanced by 2% to $31.9 million. The company repaid $16.0 million in mortgage debt during the quarter and another $19.7 million in July, highlighting a strong balance sheet position.
RevPAR increased 5% year-over-year to $144, outperforming industry averages for the fifth consecutive quarter.
Net income was $9.4 million, consistent with the second quarter of 2022.
Adjusted EBITDA rose by 2% to $31.9 million, driven by effective cost management and increased operational efficiency.
The company repaid $16.0 million in mortgage debt during the quarter and $19.7 million in July, demonstrating a strong financial position.
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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