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Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 86,479,000 $ 84,476,000 $ 154,920,000 $ 152,091,000
Expenses:        
Total hotel operating expenses 46,571,000 43,323,000 88,413,000 83,800,000
Depreciation and amortization 14,914,000 14,670,000 30,169,000 28,928,000
Property taxes, ground rent and insurance 5,981,000 6,069,000 11,275,000 12,174,000
General and administrative 4,633,000 4,612,000 9,227,000 8,954,000
Other charges 27,000 38,000 77,000 38,000
Reimbursable costs from related parties 275,000 365,000 553,000 730,000
Total operating expenses 72,401,000 69,077,000 139,714,000 134,624,000
Operating income before loss on sale of hotel properties 14,078,000 15,399,000 15,206,000 17,467,000
Gain (loss) on sale of hotel properties 12,000 55,000 (140,000) 55,000
Operating income 14,090,000 15,454,000 15,066,000 17,522,000
Interest and other income 684,000 189,000 1,529,000 209,000
Interest expense, including amortization of deferred fees (7,723,000) (6,442,000) (15,030,000) (12,880,000)
Loss on early extinguishment of debt (17,000) 0 (17,000) (691,000)
Gain from partial lease termination 0 164,000 0 164,000
Income before income tax expense 7,034,000 9,365,000 1,548,000 4,324,000
Income tax expense 0 0 0 0
Net income 7,034,000 9,365,000 1,548,000 4,324,000
Net (income) loss attributable to noncontrolling interests (186,000) (221,000) 73,000 (28,000)
Net income attributable to Chatham Lodging Trust 6,848,000 9,144,000 1,621,000 4,296,000
Preferred dividends (1,987,000) (1,987,000) (3,975,000) (3,975,000)
Net income (loss) attributable to common shareholders $ 4,861,000 $ 7,157,000 $ (2,354,000) $ 321,000
Income (loss) per common share - basic:        
Net income (loss) attributable to common shareholders (Note 10)- (in dollars per share) $ 0.10 $ 0.15 $ (0.05) $ 0.01
Income (loss) per common share - diluted:        
Net income (loss) attributable to common shareholders (Note 10) - (in dollars per share) $ 0.10 $ 0.15 $ (0.05) $ 0.01
Weighted average number of common shares outstanding:        
Basic (in shares) 48,900,609 48,846,913 48,896,301 48,842,850
Diluted (in shares) 49,013,530 48,962,842 48,896,301 48,964,908
Distributions declared per common share (in dollars per share) $ 0.07 $ 0.07 $ 0.14 $ 0.14
Room        
Revenue:        
Total revenue $ 79,044,000 $ 77,486,000 $ 141,526,000 $ 139,157,000
Expenses:        
Total hotel operating expenses 16,966,000 14,578,000 32,099,000 28,694,000
Food and beverage        
Revenue:        
Total revenue 2,127,000 2,094,000 3,973,000 4,182,000
Expenses:        
Total hotel operating expenses 1,608,000 1,584,000 3,091,000 3,141,000
Other        
Revenue:        
Total revenue 5,033,000 4,531,000 8,868,000 8,022,000
Reimbursable costs from related parties        
Revenue:        
Total revenue 275,000 365,000 553,000 730,000
Telephone        
Expenses:        
Total hotel operating expenses 328,000 360,000 647,000 722,000
Other hotel operating        
Expenses:        
Total hotel operating expenses 1,025,000 950,000 1,844,000 1,863,000
General and administrative        
Expenses:        
Total hotel operating expenses 7,231,000 7,305,000 14,396,000 14,112,000
Franchise and marketing fees        
Expenses:        
Total hotel operating expenses 6,936,000 6,801,000 12,425,000 12,141,000
Advertising and promotions        
Expenses:        
Total hotel operating expenses 1,585,000 1,460,000 2,927,000 2,975,000
Utilities        
Expenses:        
Total hotel operating expenses 3,106,000 2,899,000 6,115,000 6,050,000
Repairs and maintenance        
Expenses:        
Total hotel operating expenses 4,103,000 3,894,000 8,057,000 7,623,000
Management fees paid to related parties        
Expenses:        
Total hotel operating expenses 2,850,000 2,791,000 5,159,000 5,079,000
Insurance        
Expenses:        
Total hotel operating expenses $ 833,000 $ 701,000 $ 1,653,000 $ 1,400,000