XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Equity Incentive Plan (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Restricted Share Awards | A summary of the shares granted to executive officers that have not fully vested pursuant to the Equity Incentive Plan as of March 31, 2018 is as follows:
Award Type | Award Date |  | Total Shares Granted |  | Vested as of March 31, 2018
2015 Time-based Awards | 1/30/2015 |  | 40,161 |  |  | 40,161 |
2015 Performance-based Awards | 1/30/2015 |  | 36,144 |  |  | 12,048 |
2015 Time-based Awards | 6/1/2015 |  | 8,949 |  |  | 5,966 |
2017 Restricted Board Awards | 1/11/2017 |  | 5,000 |  |  | 1,666 |
A summary of the Company’s restricted share awards for the three months ended March 31, 2018 and the year ended December 31, 2017 is as follows:
| Three Months Ended |  | Year Ended
| March 31, 2018 |  | December 31, 2017
| Number of Shares |  | Weighted - Average Grant Date Fair Value |  | Number of Shares |  | Weighted - Average Grant Date Fair Value
Non-vested at beginning of the period | 57,514 |  |  | $ | 23.78 |  |  | 110,825 |  |  | $ | 22.05 |
Granted | — |  |  | — |  |  | 5,000 |  |  | 20.20 |
Vested | (27,101 | ) |  | 25.77 |  |  | (32,441 | ) |  | 25.77 |
Forfeited | (24,096 | ) |  | $ | 21.21 |  |  | (25,870 | ) |  | $ | 13.17 |
Non-vested at end of the period | 6,317 |  |  | $ | 23.78 |  |  | 57,514 |  |  | $ | 23.78 |
Schedule of Share-based Payment Award, Valuation Assumptions | The grant date fair value of the performance LTIP awards were determined using a Monte Carlo simulation method with the following assumptions (based on the three-year risk free U.S. Treasury yield over the measurement period of the LTIP awards):
| Grant Date | Volatility | Dividend Yield | Risk Free Interest Rate | Discount
Outperformance Plan | 6/1/2015 | 26% | 4.5% | 0.95% | —%
2016 Time-Based LTIP Unit Awards | 1/28/2016 | 28% | —% | 0.79% | 7.5%
2016 Performance-Based LTIP Unit Awards | 1/28/2016 | 30% | 5.8% | 1.13% | —%
2017 Time-Based LTIP Unit Awards | 3/1/2017 | 24% | —% | 0.92% | 7.5%
2017 Performance-Based LTIP Unit Awards | 3/1/2017 | 25% | 5.8% | 1.47% | —%
2018 Time-Based LTIP Unit Awards | 3/1/2018 | 26% | —% | 2.07% | 7.5%
2018 Performance-Based LTIP Unit Awards | 3/1/2018 | 26% | 6.2% | 2.37% | —%
The grant date fair values of the performance-based share awards were determined using a Monte Carlo simulation method with the following assumptions:
Performance Award |  |  |  |  |  | Risk Free Interest
Grant Date |  | Volatility |  | Dividend Yield |  | Rate
1/30/2015 |  | 29% |  | —% |  | 0.84%
Schedule of Long Term Incentive Unit Awards | A summary of the Company's LTIP Unit awards for the three months ended March 31, 2018 and the year ended December 31, 2017 is as follows:
| Three Months Ended |  | Year Ended
| March 31, 2018 |  | December 31, 2017
| Number of Shares |  | Weighted - Average Grant Date Fair Value |  | Number of Shares |  | Weighted - Average Grant Date Fair Value
Non-vested at beginning of the period | 482,056 |  |  | $ | 16.58 |  |  | 295,551 |  |  | $ | 14.36 |
Granted | 244,917 |  |  | 16.94 |  |  | 223,922 |  |  | 19.20 |
Vested | (67,275 | ) |  | 16.42 |  |  | (37,417 | ) |  | 14.73 |
Non-vested at end of the period | 659,698 |  |  | $ | 20.08 |  |  | 482,056 |  |  | $ | 16.58 |
Schedule of Time-Based Equity Incentive Plan | A summary of time-based LTIP unit awards granted, as recommended by the Compensation Committee, are as follows:
Grant Date |  | Number of Shares Granted |  | Estimated Value Per Share |  | Vesting 1st Year Date |  | Vesting 2nd Year Date |  | Vesting 3rd Year Date
January 28, 2016 |  | 72,966 |  |  | $ | 16.69 |  |  | 1/28/2017 |  | 1/28/2018 |  | 1/28/2019
March 1, 2017 |  | 89,574 |  |  | $ | 18.53 |  |  | 3/1/2018 |  | 3/1/2019 |  | 3/1/2020
March 1, 2018 |  | 97,968 |  |  | $ | 16.83 |  |  | 3/1/2019 |  | 3/1/2020 |  | 3/1/2021
Schedule of Performance-Based Long-Term Incentive Plan Payout Unit Awards | The 2017 and 2018 Performance-Based LTIP Unit Awards, if earned, will be paid out between 50% and 150% of target value as follows:
| Relative TSR Hurdles (Percentile) |  | Payout Percentage
Threshold | 25th |  | 50%
Target | 50th |  | 100%
Maximum | 75th |  | 150%

X
- Definition Schedule of Share-based Payment Award, Performance-Based Long-Term Incentive Plan Payout Unit Awards [Table Text Block] + References No definition available. + Details
Name: | cldt_ScheduleofSharebasedPaymentAwardPerformanceBasedLongTermIncentivePlanPayoutUnitAwardsTableTextBlock
Namespace Prefix: | cldt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Share-based Payment Award, Valuation Assumptions [Table Text Block] + References No definition available. + Details
Name: | cldt_ScheduleofSharebasedPaymentAwardValuationAssumptionsTableTextBlock
Namespace Prefix: | cldt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Time-Based Equity Incentive Plan [Table Text Block] + References No definition available. + Details
Name: | cldt_ScheduleofTimeBasedEquityIncentivePlanTableTextBlock
Namespace Prefix: | cldt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5047-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration