1、Chatham Lodging Trust222 Lakeview Avenue,Suite 200West Palm Beach,FL 33401561.802.4477WWW.CHATHAMLODGINGTRUST.COM2015Annual ReportCHATHAM LODGING TRUST|2015 ANNUAL REPORTChatham Lodging Trust is a self-advised,publicly-traded real estate invest-ment trust focused primarily on investing in upscale ex
2、tended-stay hotels and premium-branded,select-service hotels.Our high quality hotels are located in major markets with high barriers to entry,near primary demand generators for both business and leisure guests.Our primary objective is to generate attractive returns for our sharehold-ers through inve
3、sting in hotel properties at prices that provide strong returns on invested capital,paying meaningful dividends and generating long-term value appreciation.Note:Figures are rounded to the nearest whole percentage and therefore may not reflect the exact percentage.MSA/State reflects%of total undeprec
4、iated cost basis as of December 31,2015.FORT LAUDERDALE(3%)Dear Shareholder,1Jeffrey H.FisherChairman,Chief Executive Officer and PresidentAlthough 2015 was a challenging year for virtually all publicly traded lodging real estate trust investors,fundamentals within lodging remained favorable and Cha
5、tham achieved many significant accomplishments:increased our annual dividend 29 percent to$1.20 per share from$0.93 per share,marking the fifth consecu-tive year of dividend increases solidified our balance sheet for the long-term,success-fully closing on a new,unsecured$250 million senior revolving
6、 credit facility that can be expanded to$400 million and matures in late 2020 advanced adjusted EBITDA 50 percent grew adjusted FFO 59 percent and adjusted FFO per share 20 percent raised approximately$121 million in a common share equity offering in early 2015,using proceeds to reduce leverage and