Chatham Lodging Trust (CLDT) investor relations material

Executive summary

• Same-property RevPAR rose 8.3% to a third-quarter record $161; adjusted EBITDA increased 21% to $31.9M and Adjusted FFO per diluted share rose 31% to $0.46.

• Revenue increased 16.0% to $90.9M; net income attributable to common shareholders was $5.3M versus $1.5M.

• Business travel and Silicon Valley recovery supported broad strength; occupancy reached 83%, the highest quarterly level since 2019.

Financial highlights

• Q3 hotel revenue was $90.6M and Adjusted Hotel EBITDA was $35.0M versus $28.8M; adjusted FFO attributable to common share and unit holders was $22.9M versus $18.0M.

• GOP margin expanded 110 bps to 44.7%; hotel EBITDA margin increased 190 bps to 38.7%.

• Nine-month revenue was $246.2M versus $227.3M; operating cash flow rose to $67.8M from $51.8M.

• October RevPAR increased 7.9% year over year; 13 of 39 hotels posted double-digit Q3 RevPAR growth.

Outlook and guidance

• FY 2026 guidance: RevPAR growth of 4.0%–4.5%, adjusted EBITDA of $104.2M–$105.3M, and Adjusted FFO of $1.38–$1.40 per diluted share.

• Q4 RevPAR growth is expected at 3.5%–4%; November and December outlook assumes lower-single-digit growth amid seasonal softness.

• Expected 2026 free cash flow after dividends and maintenance and renovation CapEx is ~$25M; Portland development is expected to require virtually no incremental borrowing.

• Home2 Suites Portland is expected to open in Q2 2028 and be accretive upon opening; no specific 2027 financial guidance was given.