11:19 AM EDT, 06/03/2024 (MT Newswires) -- Chatham Lodging Trust ( CLDT ) said Monday its revenue per available room rose 5% quarter-to-date through May, above its Q2 outlook of 2.5% to 4%.

Revenue per available room was up 5% in both April and May, the company said.

In April, the occupancy rate rose 6% to 83%, while the average daily rate fell 1% to $177, the company said.

In May, occupancy was up 4% to 82%, while the average daily rate increased 1% to $182, the hotel real estate investment trust said.

Chatham shares were up 2.1% in recent Monday trading.

Price: 8.60, Change: +0.14, Percent Change: +1.65