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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total revenue $ 86,741,000 $ 87,885,000 $ 238,832,000 $ 224,531,000
Total hotel operating expenses 47,668,000 43,686,000 131,469,000 118,712,000
Depreciation and amortization 14,687,000 14,658,000 43,615,000 44,971,000
Property taxes, ground rent and insurance 6,008,000 5,669,000 18,182,000 16,559,000
General and administrative 4,218,000 4,592,000 13,172,000 12,998,000
Other charges 6,000 304,000 44,000 704,000
Reimbursable costs from related parties 281,000 313,000 1,011,000 997,000
Total operating expenses 72,868,000 69,222,000 207,493,000 194,941,000
Operating income before gain on sale of hotel properties 13,873,000 18,663,000 31,339,000 29,590,000
Gain on sale of hotel properties 1,000 109,000 56,000 2,129,000
Operating income 13,874,000 18,772,000 31,395,000 31,719,000
Interest and other income 479,000 8,000 688,000 10,000
Interest expense, including amortization of deferred fees (6,849,000) (6,404,000) (19,729,000) (19,729,000)
Loss on early extinguishment of debt (5,000) 0 (696,000) 0
Gain from partial lease termination 0 0 164,000 0
Income before income tax expense 7,499,000 12,376,000 11,822,000 12,000,000
Income tax expense 0 0 0 0
Net income 7,499,000 12,376,000 11,822,000 12,000,000
Net income attributable to noncontrolling interests (170,000) (248,000) (198,000) (166,000)
Net income attributable to Chatham Lodging Trust 7,329,000 12,128,000 11,624,000 11,834,000
Preferred dividends (1,987,000) (1,987,000) (5,962,000) (5,962,000)
Net income attributable to common shareholders $ 5,342,000 $ 10,141,000 $ 5,662,000 $ 5,872,000
Income per common share - basic:        
Net income attributable to common shareholders (Note 11) - (in dollars per share) $ 0.11 $ 0.21 $ 0.11 $ 0.12
Income per common share - diluted:        
Net income attributable to common shareholders (Note 11) - (in dollars per share) $ 0.11 $ 0.21 $ 0.11 $ 0.12
Weighted average number of common shares outstanding:        
Basic (in shares) 48,850,339 48,798,528 48,845,374 48,793,839
Diluted (in shares) 49,004,084 49,072,895 48,976,085 49,023,835
Distributions declared per common share (in dollars per share) $ 0.07 $ 0 $ 0.21 $ 0
Room        
Total revenue $ 79,862,000 $ 81,970,000 $ 219,019,000 $ 207,896,000
Total hotel operating expenses 17,223,000 14,892,000 45,918,000 40,966,000
Food and beverage        
Total revenue 1,975,000 1,816,000 6,156,000 5,199,000
Total hotel operating expenses 1,510,000 1,435,000 4,651,000 3,911,000
Other        
Total revenue 4,623,000 3,786,000 12,646,000 10,439,000
Reimbursable costs from related parties        
Total revenue 281,000 313,000 1,011,000 997,000
Telephone        
Total hotel operating expenses 385,000 346,000 1,106,000 1,106,000
Other hotel operating        
Total hotel operating expenses 949,000 883,000 2,812,000 2,494,000
General and administrative        
Total hotel operating expenses 7,503,000 6,880,000 21,616,000 19,035,000
Franchise and marketing fees        
Total hotel operating expenses 6,980,000 7,107,000 19,121,000 18,073,000
Advertising and promotions        
Total hotel operating expenses 1,538,000 1,499,000 4,513,000 3,918,000
Utilities        
Total hotel operating expenses 3,758,000 3,419,000 9,807,000 9,091,000
Repairs and maintenance        
Total hotel operating expenses 4,111,000 3,600,000 11,735,000 10,392,000
Management fees        
Total hotel operating expenses 2,994,000 2,987,000 8,073,000 7,631,000
Insurance        
Total hotel operating expenses $ 717,000 $ 638,000 $ 2,117,000 $ 2,095,000