Chatham Lodging Trust (CLDT) 2019年年度报告「NYSE」.pdf

1、Chatham Lodging Trust2 0 1 9 a n n u a l r e p o r tChatham Lodging Trust is a self-advised,publicly-traded real estate investment trust focused primarily on investing in upscale extended-stay hotels and premium-branded,select-service hotels.Our high quality hotels are located in major markets with

2、high barriers to entry,near primary demand generators for both business and leisure guests.Our primary objective is to generate attractive returns for our shareholders through investing in hotel properties at prices that provide strong returns on invested capital,paying meaningful dividends and gene

3、rating long-term value appreciation.Dear Shareholder,I hope this letter finds each of our shareholders,interested parties and employees well.As we turn the page and enter a new decade,Chatham will be celebrating the tenth anniversary of its initial public offering in April,and we appreciate your sup

4、port over the past ten years as we look forward to further building Chatham into the premier owner of upscale,extended-stay hotels and premium-branded,select-service hotels.Following RevPAR growth of almost 1 percent in 2018,our RevPAR declined 1.6 percent in 2019 as we absorbed the impact of new su

5、pply.We faced tough comparisons to 2018 given the significant amount of room revenue related to the north Boston gas explosions and border patrol demand in San Diego.Our RevPAR decline of 1.6 percent was at the lower end of our guidance range of minus 1.5 percent to plus 0.5 percent.I am pleased tha

6、t our Adjusted Earnings Before Interest,Taxes,Depreciation and Amortization(EBITDA)and adjusted Funds from Operation(FFO),despite the sale of two hotels which were included in our initial guidance,finished towards the upper end of our guidance range,driven by incredible margin performance.Despite th