CLDT - Chatham Lodging stock dips even after topping Q4 estimates
Chatham Lodging (NYSE:CLDT) shares on Thursday fell as much as 5% despite better-than-expected Q4 results, highlighting improvements in same store operating margins. "We are starting to see trends rebound and believe we will experience a meaningful recovery in the business traveler starting in the spring and accelerating throughout 2022," said President and CEO Jeffrey H. Fischer. Q4 adjusted EBITDA of $15.18M jumped from $231K in Q4 2020. Hotel EBITDA margin of 30.8% vs. 7.9% in Q4 2020. Q4 revenue of $57.32M topped the $56.02M consensus and jumped from $29.56M in Q4 2020. Hotel revenue per room for the REIT's 40 comparable hotels was $92 in Q4, down from $107 in the third quarter. Q4 occupancy of 50% in January vs. 58% in December. Q4 operating expenses were $63.09M compared with $45.78M in the same period a year ago. Overall, the REIT incurred an operating loss of $5.77M in Q4, down from a
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Chatham Lodging stock dips even after topping Q4 estimates