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