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Sep 30, 2023
Chatham Q3 2023 Earnings Report
Adjusted FFO per share beat estimates and September/October RevPAR exceeded 2019.
Key Takeaways
Chatham Lodging Trust announced third quarter 2023 results, with adjusted FFO per share beating estimates and September/October RevPAR exceeding 2019 levels, despite a decrease in portfolio RevPAR compared to the previous year.
Portfolio RevPAR decreased by 2.6% to $147 compared to Q3 2022.
Net income was $7.5 million, compared to $12.4 million in Q3 2022.
Adjusted EBITDA declined by $4.5 million to $30.6 million from Q3 2022.
The company repaid $60 million of maturing mortgage debt and issued $83 million of fixed-rate debt during the quarter.
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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