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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 87,177,000 $ 86,741,000 $ 242,099,000 $ 238,832,000
Expenses:        
Total hotel operating expenses 48,241,000 47,668,000 136,655,000 131,469,000
Depreciation and amortization 15,287,000 14,687,000 45,455,000 43,615,000
Property taxes, ground rent and insurance 6,453,000 6,008,000 17,728,000 18,182,000
General and administrative 4,395,000 4,218,000 13,623,000 13,172,000
Other charges 0 6,000 77,000 44,000
Reimbursable costs from related parties 283,000 281,000 836,000 1,011,000
Total operating expenses 74,659,000 72,868,000 214,374,000 207,493,000
Operating income before loss on sale of hotel properties 12,518,000 13,873,000 27,725,000 31,339,000
(Loss) gain on sale of hotel properties (14,000) 1,000 (154,000) 56,000
Operating income 12,504,000 13,874,000 27,571,000 31,395,000
Interest and other income 97,000 479,000 1,627,000 688,000
Interest expense, including amortization of deferred fees (8,262,000) (6,849,000) (23,292,000) (19,729,000)
Loss on early extinguishment of debt 0 (5,000) (17,000) (696,000)
Gain from partial lease termination 0 0 0 164,000
Income before income tax expense 4,339,000 7,499,000 5,889,000 11,822,000
Income tax expense 0 0 0 0
Net income 4,339,000 7,499,000 5,889,000 11,822,000
Net income attributable to noncontrolling interests (88,000) (170,000) (15,000) (198,000)
Net income attributable to Chatham Lodging Trust 4,251,000 7,329,000 5,874,000 11,624,000
Preferred dividends (1,987,000) (1,987,000) (5,962,000) (5,962,000)
Net income (loss) attributable to common shareholders $ 2,264,000 $ 5,342,000 $ (88,000) $ 5,662,000
Income per common share - basic:        
Net income attributable to common shareholders (Note 10)- (in dollars per share) $ 0.05 $ 0.11 $ 0 $ 0.11
Income per common share - diluted:        
Net income attributable to common shareholders (Note 10) - (in dollars per share) $ 0.05 $ 0.11 $ 0 $ 0.11
Weighted average number of common shares outstanding:        
Basic (in shares) 48,904,179 48,850,339 48,898,947 48,845,374
Diluted (in shares) 49,066,464 49,004,084 48,898,947 48,976,085
Distributions declared per common share (in dollars per share) $ 0.07 $ 0.07 $ 0.21 $ 0.21
Room        
Revenue:        
Total revenue $ 80,236,000 $ 79,862,000 $ 221,762,000 $ 219,019,000
Expenses:        
Total hotel operating expenses 17,011,000 17,223,000 49,110,000 45,918,000
Food and beverage        
Revenue:        
Total revenue 1,832,000 1,975,000 5,806,000 6,156,000
Expenses:        
Total hotel operating expenses 1,592,000 1,510,000 4,683,000 4,651,000
Other        
Revenue:        
Total revenue 4,826,000 4,623,000 13,695,000 12,646,000
Reimbursable costs from related parties        
Revenue:        
Total revenue 283,000 281,000 836,000 1,011,000
Telephone        
Expenses:        
Total hotel operating expenses 343,000 385,000 991,000 1,106,000
Other hotel operating        
Expenses:        
Total hotel operating expenses 1,188,000 949,000 3,031,000 2,812,000
General and administrative        
Expenses:        
Total hotel operating expenses 7,506,000 7,503,000 21,903,000 21,616,000
Franchise and marketing fees        
Expenses:        
Total hotel operating expenses 6,990,000 6,980,000 19,415,000 19,121,000
Advertising and promotions        
Expenses:        
Total hotel operating expenses 1,677,000 1,538,000 4,604,000 4,513,000
Utilities        
Expenses:        
Total hotel operating expenses 3,946,000 3,758,000 10,061,000 9,807,000
Repairs and maintenance        
Expenses:        
Total hotel operating expenses 4,178,000 4,111,000 12,235,000 11,735,000
Management fees paid to related parties        
Expenses:        
Total hotel operating expenses 2,959,000 2,994,000 8,118,000 8,073,000
Insurance        
Expenses:        
Total hotel operating expenses $ 851,000 $ 717,000 $ 2,504,000 $ 2,117,000