Overview

* Chatham Lodging ( CLDT ) Q2 RevPAR dips less than 1% yr/yr to $155

* Net income for Q2 declines to $3 mln from $5 mln yr/yr

* Adjusted EBITDA falls $2 mln due to impact from sold hotels

Outlook

* Company projects Q3 RevPAR growth between -1.5% and 0.5%

* Chatham expects Q3 total hotel revenue of $78.8M to $80.3M

* Company forecasts Q3 net income of $0.0M to $2.0M

* Chatham anticipates Q4 RevPAR growth between -1% and +1%

Result Drivers

* SILICON VALLEY GROWTH - RevPAR for Silicon Valley hotels rose 3% due to strong technology-related demand

* ASSET SALES IMPACT - Adjusted EBITDA declined due to impact from hotels sold, accounting for over $2 mln

* SAN DIEGO REBOUND - San Diego RevPAR increased 5% benefiting from higher demand for convention business

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.07

Q2 $0.36

Adjusted

FFO Per

Share

Q2 $155

RevPAR

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "buy"

* Wall Street's median 12-month price target for Chatham Lodging Trust ( CLDT ) is $9.00, about 25.4% above its August 5 closing price of $6.71

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)