XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Total revenue $ 84,476,000 $ 81,761,000 $ 152,091,000 $ 136,646,000
Total hotel operating expenses 43,323,000 41,345,000 83,800,000 75,026,000
Depreciation and amortization 14,670,000 15,277,000 28,928,000 30,313,000
Property taxes, ground rent and insurance 6,069,000 5,932,000 12,174,000 10,890,000
General and administrative 4,612,000 4,462,000 8,954,000 8,405,000
Other charges 38,000 150,000 38,000 400,000
Reimbursable costs from related parties 365,000 358,000 730,000 684,000
Total operating expenses 69,077,000 67,524,000 134,624,000 125,718,000
Operating income before gain on sale of hotel properties 15,399,000 14,237,000 17,467,000 10,928,000
Gain on sale of hotel properties 55,000 2,020,000 55,000 2,020,000
Operating income 15,454,000 16,257,000 17,522,000 12,948,000
Interest and other income 189,000 1,000 209,000 1,000
Interest expense, including amortization of deferred fees (6,442,000) (6,936,000) (12,880,000) (13,325,000)
Loss on early extinguishment of debt 0 0 (691,000) 0
Gain from partial lease termination 164,000 0 164,000 0
Income (loss) before income tax expense 9,365,000 9,322,000 4,324,000 (376,000)
Income tax expense 0 0 0 0
Net income (loss) 9,365,000 9,322,000 4,324,000 (376,000)
Net (income) loss attributable to noncontrolling interests (221,000) (171,000) (28,000) 82,000
Net income (loss) attributable to Chatham Lodging Trust 9,144,000 9,151,000 4,296,000 (294,000)
Preferred dividends (1,987,000) (1,987,000) (3,975,000) (3,975,000)
Net income (loss) attributable to common shareholders $ 7,157,000 $ 7,164,000 $ 321,000 $ (4,269,000)
Income (loss) per common share - basic:        
Net loss attributable to common shareholders (in dollars per share) $ 0.15 $ 0.15 $ 0.01 $ (0.09)
Income (loss) per common share - diluted:        
Net loss attributable to common shareholders (in dollars per share) $ 0.15 $ 0.15 $ 0.01 $ (0.09)
Weighted average number of common shares outstanding:        
Basic (in shares) 48,846,913 48,795,348 48,842,850 48,791,455
Diluted (in shares) 48,962,842 49,017,184 48,964,908 48,791,455
Distributions declared per common share (in dollars per share) $ 0.07 $ 0 $ 0.14 $ 0
Room        
Total revenue $ 77,486,000 $ 75,761,000 $ 139,157,000 $ 125,926,000
Total hotel operating expenses 14,578,000 14,480,000 28,694,000 26,074,000
Food and beverage        
Total revenue 2,094,000 1,968,000 4,182,000 3,382,000
Total hotel operating expenses 1,584,000 1,429,000 3,141,000 2,476,000
Other        
Total revenue 4,531,000 3,674,000 8,022,000 6,654,000
Reimbursable costs from related parties        
Total revenue 365,000 358,000 730,000 684,000
Telephone        
Total hotel operating expenses 360,000 359,000 722,000 760,000
Other hotel operating        
Total hotel operating expenses 950,000 879,000 1,863,000 1,611,000
General and administrative        
Total hotel operating expenses 7,305,000 6,804,000 14,112,000 12,153,000
Franchise and marketing fees        
Total hotel operating expenses 6,801,000 6,559,000 12,141,000 10,966,000
Advertising and promotions        
Total hotel operating expenses 1,460,000 1,230,000 2,975,000 2,419,000
Utilities        
Total hotel operating expenses 2,899,000 2,784,000 6,050,000 5,673,000
Repairs and maintenance        
Total hotel operating expenses 3,894,000 3,347,000 7,623,000 6,792,000
Management fees        
Total hotel operating expenses 2,791,000 2,727,000 5,079,000 4,645,000
Insurance        
Total hotel operating expenses $ 701,000 $ 747,000 $ 1,400,000 $ 1,457,000