Chatham Lodging Trust (CLDT) Investor presentation summary

Business performance highlights

• RevPAR growth outpaced industry for four consecutive years, with 2026 showing acceleration: June up 9%, July up 10%, August up 8%.

• Hotel EBITDA margin reached 37%, the highest among lodging REITs, with a 210 bps increase in 2026.

• Dividend increased by 11% in 2026, marking the second year of double-digit raises.

• Q2 YTD 2026 RevPAR rose 15% at key Sunnyvale and San Mateo properties.

• Capital recycling improved portfolio quality, balance sheet strength, and returns through acquisitions and share repurchases.

Portfolio strategy and acquisitions

• Sold seven hotels for $119 million since 2024 at a 6% cap rate, avoiding $34 million in capital expenditures.

• Acquired six Midwest hotels for $92 million at a 10% cap rate, expected to add $0.10 to FFO/share annually.

• Repurchased 2.5 million shares for $18 million at an average price of $7.29.

• Midwest portfolio features newer, higher RevPAR and margin hotels, with 66% extended stay rooms and a 42% EBITDA margin.

• Portfolio RevPAR CAGR of 4.2% from 2019 to 2025, with strong market fundamentals and limited near-term capital needs.

Financial position and capital structure

• Equity market capitalization at $638 million and enterprise value at $1.16 billion as of mid-2026.

• Net debt and preferred equity total $527 million, with an implied corporate cap rate of 7.5% and EV/EBITDA multiple of 11.6x.

• Liquidity stood at $231 million at 6/30/26, supported by a refinanced credit facility.

• Net debt reduced by $359 million since 3/31/20, reflecting a 56% decrease.

• Debt/enterprise value ratio is 11%, among the lowest in the sector, providing capacity for further acquisitions and repurchases.