Chatham Lodging Trust Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 11:30 am
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Chatham Lodging Trust reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 81.97 million compared to USD 59.31 million a year ago. Revenue was USD 87.89 million compared to USD 64.3 million a year ago. Net income was USD 12.13 million compared to net loss of USD 1.32 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to basic loss per share from continuing operations of USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to diluted loss per share from continuing operations of USD 0.07 a year ago.
For the nine months, sales was USD 207.9 million compared to USD 135.21 million a year ago. Revenue was USD 224.53 million compared to USD 146.65 million a year ago. Net income was USD 11.83 million compared to net loss of USD 7.22 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to diluted loss per share from continuing operations of USD 0.19 a year ago.
Chatham Lodging Trust is a real estate investment trust (REIT). The Company is focused primarily on investing in upscale, extended-stay hotels and premium branded, select-service hotels. All of the Company's assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owns approximately 38 hotels totaling 5,735 rooms/suites in 16 states and the District of Columbia. The Company invests in premium select-service hotels, such as Courtyard by Marriott, Hampton Inn, Hampton Inn and Suites by Hilton, Hyatt Place and Hilton Garden Inn by Hilton. The service and amenity offerings of these hotels typically include complimentary breakfast and evening hospitality hour, high-speed Internet access, in-room movie channels, limited meeting space, linen and room cleaning service, 24-hour front desk, guest grocery services, and an on-site maintenance staff.