The following is a summary of the Chatham Lodging Trust (CLDT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 RevPAR growth was strong at 4%, outperforming 2019 levels by 10% when excluding five technology-driven hotels.

• EBITDA for Q2 was $33.7 million, with adjusted FFO at $0.39 per share.

• Repaired $280 million of maturing debt and has only $30 million of debt maturing over the next year, thereby stabilizing financial positioning.

Business Progress:

• Acquired a new hotel, the Home2 Suites by Hilton Phoenix downtown, for $43.3 million.

• Marketing several hotel properties with anticipated proceeds between $40 million and $80 million.

• Engaged in significant refinancing activities to switch to floating rate debt, capitalizing on expected declining interest rates.

Opportunities:

• Geographical expansion with the acquisition of the Home2 Suites in downtown Phoenix, tapping into a vibrant urban area with high event-driven demand.

• Expected improved revenue from tech companies' intern programs.

Risks:

• Faced a subdued June performance due to the timing of the Juneteenth holiday, indicating sensitivity to holiday schedules which could impact future performances.

More details: Chatham Lodging Trust IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.