CLDT - Chatham Lodging Trust FFO of $0.16 beats by $0.03 revenue of $67.61M beats by $1.89M

2023-05-04 06:39:26 ET

• Chatham Lodging Trust press release ( NYSE: CLDT ): Q1 FFO of $0.16 beats by $0.03 .
• Revenue of $67.61M (+23.2% Y/Y) beats by $1.89M .
• RevPAR of $116 compares to $124 in 2019. ADR is up 3 percent to 2019.
• Excluding Silicon Valley, RevPAR was up 0.2 percent versus the 2019 first quarter.
• Hotel EBITDA Margin – Improved margins to 31 percent in the 2023 first quarter compared to 2022 first quarter margins of 29 percent.
• Adjusted EBITDA – Advanced 34 percent to $17.8 million from $13.3 million in the 2022 first quarter.
• Due to uncertainty surrounding the hotel industry, the company is not providing guidance at this time.

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