Chatham Lodging Trust Announces Second Quarter 2020 Results
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Chatham Lodging Trust (CLDT) Tops Q2 EPS by 19c
August 5, 2020 6:53 AM EDTChatham Lodging Trust (NYSE: CLDT) reported Q2 EPS of ($0.57), $0.19 better than the analyst estimate of ($0.76).
Second Quarter 2020 Operating Results
Portfolio Revenue per Available Room (RevPAR) Declined 77 percent to $33, compared to the 2019 second quarter. Average daily rate (ADR) decreased 43 percent to $98, and occupancy dropped 59 percent to 34 percent.Net income (loss) Declined $36.7 million to a loss of $(27.2) million for the 2020 second quarter compared to the 2019 second quarter. Net loss per diluted share was $0.57 versus net income per diluted share of $0.20 last year.Adjusted EBITDA Decreased $42.0 million to $(3.3) million.Adjusted FFO Declined $40.1 million to... More