CLDT - Chatham Lodging Trust AFFO of $0.41 beats by $0.07 revenue of $81.76M beats by $4.35M

• Chatham Lodging Trust press release ( NYSE: CLDT ): Q2 AFFO of $0.41 beats by $0.07 .
• Revenue of $81.76M (+62.7% Y/Y) beats by $4.35M .
• GAAP EPS of $0.15
• GOP Margin – Generated margins for all hotels owned during the quarter of 49.2 percent, up significantly from margins of 43.1 percent in the 2021 second quarter.
• Adjusted EBITDA – Jumped to $31.1 million from $12.5 million in the 2021 second quarter.
• Cash Flow Before Capital Expenditures – Generated second quarter 2022 cash flow before capital expenditures of $20.3 million in the 2022 second quarter compared to $2.8 million in the 2022 first quarter and cash flow of $4.0 million in the 2021 second quarter. Cash flow/burn includes $2.2 million of principal amortization per quarter.
• Recycling of Hotels Enhances Portfolio Value - Sold four hotels comprising 537 rooms for aggregate proceeds of approximately $80 million. Including near term capital expenditure requirements, the aggregate sales proceeds equated to an approximate 2 and 6 percent capitalization rate on net operating income for 2021 and 2019, respectively.

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