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Dec 31, 2019
Chatham Q4 2019 Earnings Report
Chatham Lodging Trust's Q4 2019 results were announced, with the company outperforming adjusted FFO guidance and margins.
Key Takeaways
Chatham Lodging Trust announced its Q4 2019 results, which exceeded the upper end of guidance for both Adjusted EBITDA and Adjusted FFO, despite a decline in RevPAR due to tough comparisons from the previous year. The company's performance was driven by strong margins and effective cost management.
Portfolio RevPAR decreased by 4.9% to $118, surpassing guidance expectations.
Net loss amounted to $2.4 million, compared to a net loss of $0.2 million in Q4 2018.
Adjusted EBITDA decreased to $25.9 million, exceeding the company's guidance.
Adjusted FFO declined to $15.3 million, but was above the upper end of the company's guidance.
Revenue by Geographic Location
Forward Guidance
The company provided initial guidance for 2020, with industry-wide RevPAR expected to be down 0.5% to up 0.5%.
Positive Outlook
- Industrywide RevPAR down 0.5 percent to up 0.5 percent in 2020
- STR projected industry RevPAR growth of 0.0 percent with ADR rising 0.3 percent and occupancy declining 0.3 percent.
- Hilton Hotels & Resorts systemwide RevPAR growth of 0.0 to 1.0 percent
- Renovations commencing at the Residence Inn Anaheim, Calif. and Residence Inn New Rochelle, New York in the first quarter
- Capital expenditures of $23 million on existing hotels and $30 million on its development project
Challenges Ahead
- No material impact from COVID-19
- No additional acquisitions, dispositions, debt or equity issuance
- Same store EBITDA decline
- Reduction in interest expense
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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