Chatham Lodging Trust (CLDT) 2017年年度报告「NYSE」.pdf

1、2017 ANNUAL REPORTChatham Lodging Trustis a self-advised,publicly-traded real estate investment trust focused primarily on invest-ing in upscale extended-stay hotels and premium-branded,select-service hotels.Our high quality hotels are located in major markets with high barriers to entry,near primar

2、y demand generators for both business and leisure guests.Our primary objective is to generate attractive returns for our sharehold-ers through investing in hotel properties at prices that provide strong returns on invested capital,paying meaningful dividends and generating long-term value appreciati

3、on.Greetings to each of you,and I hope this letter finds you well.In 2017,we set forth an updated,four-prong strategy designed to enhance long-term shareholder value.They include:One:Recycle CapitalWe have a very focused and high-quality portfolio and know that we can selectively prune assets from o

4、ur portfolio where the buyer net operating income capitalization rates(“cap rate”)are low.We intend to sell assets when appropriate and redeploy those proceeds into superior-quality hotels in markets with higher growth potential that will produce higher cash-on-cash returns.Two:Leverage Existing Ass

5、etsWe constantly look for opportunities to add significant value to our core properties.We have successfully accomplished this with the addition of a new tower in Silicon Valley at our Mountain View,Calif.property.We intend to optimize excess land at existing hotels,such as Portland,Maine,where we a

6、re exploring the possibility of building a second hotel.We also seek to maximize the real estate we have under roof,such as converting seldom-used meeting rooms or other under-utilized spaces into guest rooms that can produce higher returns.Three:Develop Hotels SelectivelyWe will seek opportunities