Chatham Lodging Trust Acquires Six Hotels from RLJ Development for $73.5 Million
Chatham Lodging Trust (NYSE:CLDT) today announced that it has acquired in an all-cash transaction six Homewood Suites by Hilton® hotels from RLJ Development, LLC for $73.5 million, or approximately $90,406 per suite. The six hotels are the first properties to be acquired by Chatham since it completed its initial public offering on April 21, 2010. The hotels will continue to be managed by Hilton Worldwide.
The six hotels are:
- Homewood Suites by Hilton® Boston - Billerica/Bedford/Burlington; Billerica, Mass.; 147 suites.
- Homewood Suites by Hilton® Hartford - Farmington; Farmington, Conn.; 121 suites.
- Homewood Suites by Hilton® Minneapolis - Mall of America; Bloomington, Minn., 144 suites.
- Homewood Suites by Hilton® Dallas - Market Center; Dallas, Texas; 137 suites.
- Homewood Suites by Hilton® Orlando - Maitland; Maitland, Fla.; 143 suites.
- Homewood Suites by Hilton® Nashville - Brentwood; Brentwood, Tenn.; 121 suites.
About Chatham Lodging Trust | Chatham Lodging Trust is a self-advised real estate investment trust that was organized to invest in upscale extended-stay hotels and premium-branded select service hotels. The company currently owns six hotels with an aggregate of 813 rooms/suites. Additional information about Chatham may be found at .
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 about Chatham Lodging Trust, including those statements regarding acquisitions, capital expenditures, future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results or performance to differ materially from those discussed in such statements. Additional risks are discussed in the company's filings with the Securities and Exchange Commission.
Jerry Daly, Carol McCune
Daly Gray Public Relations
Phone: (703) 435-6293