Chatham Lodging Trust (CLDT) SEC Filings & Earnings Calls

Inflationary cost pressures

“Hotel operating expenses increased $3.5 million, or 8.2%, to $46.5 million for the three months ended June 30, 2026 from $43.0 million for the three months ended June 30, 2025. The increase in hotel operating expenses was related primarily to the acquisition of six hotels in 2026, which contributed $3.7 million in operating expenses during the three months e” · word for word

Interest rate exposure

“Interest expense increased $0.5 million from $6.4 million for the three months ended June 30, 2025 to $6.9 million for the three months ended June 30, 2026 and is comprised of the following: Revolving credit facility and term loan interest and unused fees $3,821 (2026) vs $3,455 (2025).” · word for word

Occupancy declined slightly year-over-year

“Occupancy declined 50 basis points to 81 percent” · word for word

Inflationary cost pressure

“Inflation may also affect our expenses and costs of capital investments by increasing, among other things, the costs of construction, labor, employee-related benefits, food, commodities and other materials, taxes, property and casualty insurance and utilities.” · word for word

Competitive pressure on pricing

“competitive pressures may limit the ability of our management companies to raise room rates.” · word for word

Seasonal revenue fluctuation

“Generally, we expect that we will have lower revenue, operating income and cash flow in the first and fourth quarters and higher revenue, operating income and cash flow in the second and third quarters.” · word for word

Net loss increased due to absence of gain on sale; underlying operations improved.

“Net loss applicable to common shareholders of $6 million compared to a net loss of less than $1 million in the 2025 first quarter (2025 included a gain on sale of assets of $7 million).” · word for word

Market concentration risk

“Silicon Valley is our largest market, and we are very constructive on Silicon Valley long-term.” · word for word

Interest rate risk

“financing costs have lessened and seller pricing expectations have adjusted from a year ago” · word for word

Lodging industry cyclicality

“The lodging industry is cyclical in nature. Fluctuations in lodging demand and, therefore, operating performance, are caused largely by general economic and local market conditions, which subsequently affects levels of business and leisure travel.” · word for word

Inflationary cost pressure

“Inflation and price volatility in the global economy could negatively impact our business and results of operations.” · word for word

Interest rate risk

“Changes in interest rates and in the availability, cost and terms of debt financing.” · word for word

Industry headwinds: DOGE, Liberation Day impact on international travel, government shutdown threats

“Maintained RevPAR at $142 compared to 2024 despite many industry-wide challenges (DOGE, Liberation Day and its impact on inbound international travel, government shutdown threats and ultimately a shutdown)” · word for word

RevPAR Decline

“Same property RevPAR decreased 2.5% for the three months ended September 30, 2025.”

Inflationary Cost Pressure

“The changes in results described below were driven primarily by ... inflationary cost pressures.” · word for word

Limited Visibility

“RevPAR growth slowed starting in March 2025 and we believe there is relatively limited visibility toward industry performance for the remainder of 2025.” · word for word

Government travel cuts and convention center renovations impacting demand in key markets.

“Cuts in government travel impacted Washington D.C. area; convention center closures in San Diego, Austin, Dallas.”

RevPAR decline in major markets: San Diego down 10%, Washington D.C. down 6%, Silicon Valley down 4%.

“San Diego RevPAR down 10%; Washington D.C. down 6%; Silicon Valley down 4%.”