The following is a summary of the Chatham Lodging Trust (CLDT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 RevPAR growth was strong at 4%, outperforming 2019 levels by 10% when excluding five technology-driven hotels.

• EBITDA for Q2 was $33.7 million, with adjusted FFO at $0.39 per share.

• Repaired $280 million of maturing debt and has only $30 million of debt maturing over the next year, thereby stabilizing financial positioning.

Business Progress:

• Acquired a new hotel, the Home2 Suites by Hilton Phoenix downtown, for $43.3 million.

• Marketing several hotel properties with anticipated proceeds between $40 million and $80 million.

• Engaged in significant refinancing activities to switch to floating rate debt, capitalizing on expected declining interest rates.

Opportunities:

• Geographical expansion with the acquisition of the Home2 Suites in downtown Phoenix, tapping into a vibrant urban area with high event-driven demand.

• Expected improved revenue from tech companies' intern programs.

Risks:

• Faced a subdued June performance due to the timing of the Juneteenth holiday, indicating sensitivity to holiday schedules which could impact future performances.

More details: Chatham Lodging Trust IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.