CLDT-PA Chatham Lodging Trust

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Executive Summary

Chatham Lodging Trust reported Q1 2026 revenue of $67.5M, beating consensus of $65.8M, but down 1.6% YoY. GAAP net loss widened to $(0.13)/share due to lower gain on sale, while AFFO per share rose 18% YoY to $0.20. The company raised full-year 2026 guidance significantly: AFFO per share now expected $1.21-$1.29 (up from $1.04-$1.14) and total hotel revenue $308M-$314M (up from $284M-$290M), driven by strong operating performance, an accretive $92M hotel acquisition, and aggressive share repurchases.

Key Financial Metrics

Actionable Insight

Key Facts

• Q1 2026 total revenue $67.5M (beat consensus $65.8M) but down 1.6% YoY from $68.6M
• GAAP net loss to common shareholders $(6.3M) or $(0.13)/diluted share vs $(0.5M) loss a year ago (prior year included $7.1M gain on sale)
• AFFO per diluted share $0.20, up 18% YoY from $0.17
• Full-year 2026 AFFO per share guidance raised to $1.21-$1.29 from $1.04-$1.14 (15% increase at midpoint)
• Total hotel revenue guidance raised to $308M-$314M from $284M-$290M
• Acquired six Hilton-branded hotels (589 rooms) for $92 million in March
• Repurchased 0.9 million shares at avg $7.35/share in Q1, $15.6M total under $25M buyback plan
• Dividend raised 11% to $0.10/quarter
• Portfolio RevPAR +1% YoY to $128, driven by 11% growth in Silicon Valley

Financial Impact

Guidance raise adds ~$0.12-$0.15 to AFFO per share midpoint, implying ~$6M-$7.5M incremental AFFO

Risk Factors

• Hotel demand sensitivity to macroeconomic slowdown
• Geographic concentration in Silicon Valley and coastal markets
• Higher leverage at 25% net debt to cost (up from 20% at year-end 2025) due to acquisition financing

Market Snapshot

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

US Market Status