Chatham Lodging Trust Acquires High-Quality Extended-Stay Hotels in Austin, Texas
Summary
“ Having actively managed our way through the worst era in the history of the hotel industry, our actions have enabled us to emerge from the pandemic with a stronger balance sheet and more liquidity,” highlighted Jeffrey H. Fisher, Chatham’s chief executive officer and president. Apple currently is constructing a 2 million square foot office campus approximately 5 miles from the Austin Acquisitions that will cost over $1 billion and eventually accommodate around 15,000 employees. We will be able to leverage our deep relationships with key accounts in our other markets such as Silicon Valley or Bellevue, Wash., to drive higher RevPAR performance in Austin. Lastly, the Austin Acquisitions will generate premium RevPAR growth over the next cycle, be accretive to FFO and enhance our net asset value,” Fisher concluded. Managements Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and as described in our other filings with the Securities and Exchange Commission.