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Note 6 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | 12 Months Ended |
--- | --- | ---
Dec. 31, 2025 | Dec. 31, 2024
Carrying value, collateral |  | $ 208,826 |
Outstanding |  | 343,225 | $ 409,182
Debt, gross |  | 343,225 | 409,182
Unamortized mortgage debt issue costs |  | (4,312) | (2,332)
Total debt outstanding |  | $ 338,913 | 406,850
Unsecured Delayed-draw Term Loan [Member] |  |  |
Interest rate | [1] | 5.47% |
Maturity date | [1] | Sep. 25, 2029 |
Carrying value, collateral | [1] | $ 0 |
Outstanding | [1] | 200,000 | 140,000
Debt, gross | [1] | $ 200,000 | 140,000
First Mortgage Lien Secured by Hampton Inn & Suites, Houston Medical Center, TX [Member] |  |  |
Interest rate |  | 4.25% |
Maturity date |  | Jan. 06, 2025 |
Carrying value, collateral |  | $ 0 |
Outstanding |  | 0 | 15,957
Debt, gross |  | $ 0 | 15,957
First Mortgage Lien Secured by Courtyard by Marriott, Dallas, TX [Member] |  |  |
Interest rate |  | 7.61% |
Maturity date |  | Sep. 11, 2028 |
Carrying value, collateral |  | $ 38,403 |
Outstanding |  | 24,500 | 24,500
Debt, gross |  | $ 24,500 | 24,500
First Mortgage Lien Secured by Hyatt Place, Pittsburgh, PA [Member] |  |  |
Interest rate | [2] | 7.29% |
Maturity date | [2] | Jun. 11, 2029 |
Carrying value, collateral | [2] | $ 28,825 |
Outstanding | [2] | 23,300 | 23,300
Debt, gross | [2] | $ 23,300 | 23,300
First Mortgage Lien Secured by Residence Inn by Marriott Austin, TX [Member] |  |  |
Interest rate |  | 7.42% |
Maturity date |  | Sep. 06, 2033 |
Carrying value, collateral |  | $ 34,844 |
Outstanding |  | 20,850 | 20,850
Debt, gross |  | $ 20,850 | 20,850
First Mortgage Lien Secured by TownePlace Suites by Marriott Austin, TX [Member] |  |  |
Interest rate |  | 7.42% |
Maturity date |  | Sep. 06, 2033 |
Carrying value, collateral |  | $ 28,889 |
Outstanding |  | 19,075 | 19,075
Debt, gross |  | $ 19,075 | 19,075
First Mortgage Lien Secured by Courtyard by Marriott Summerville, SC [Member] |  |  |
Interest rate |  | 7.33% |
Maturity date |  | Sep. 11, 2033 |
Carrying value, collateral |  | $ 17,524 |
Outstanding |  | 9,000 | 9,000
Debt, gross |  | $ 9,000 | 9,000
First Mortgage Lien Secured by Residence Inn by Marriott Summerville, SC [Member] |  |  |
Interest rate |  | 7.33% |
Maturity date |  | Sep. 11, 2033 |
Carrying value, collateral |  | $ 16,549 |
Outstanding |  | 9,500 | 9,500
Debt, gross |  | $ 9,500 | 9,500
First Mortgage Lien Secured by SpringHill Suites by Marriott, Savannah, GA [Member] |  |  |
Interest rate |  | 6.70% |
Maturity date |  | Jun. 06, 2034 |
Carrying value, collateral |  | $ 31,854 |
Outstanding |  | 22,000 | 22,000
Debt, gross |  | $ 22,000 | 22,000
First Mortgage Lien Secured by Hampton Inn & Suites, Exeter, NH [Member] |  |  |
Interest rate | [3] | 6.70% |
Maturity date | [3] | Jun. 11, 2034 |
Carrying value, collateral | [3] | $ 11,938 |
Outstanding | [3] | 15,000 | 15,000
Debt, gross | [3] | $ 15,000 | 15,000
Revolving Credit Facility [Member] |  |  |
Interest rate | [4] | 5.52% |
Maturity date | [4] | Sep. 25, 2029 |
Carrying value, collateral | [4] | $ 0 |
Outstanding | [4] | 0 | 110,000
Debt, gross | [4] | $ 0 | $ 110,000
[1] | The interest rate for the unsecured term loan is variable and based on one-month term SOFR plus a spread of 1.45% to 2.20% based on the Company's leverage and a credit spread adjustment of 0.10%.
[2] | On May 31, 2024, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $23.3 million loan secured by the Hyatt Place Pittsburgh. The loan has a term of five years, carries a fixed interest rate of 7.29%, and is interest-only for its duration.
[3] | On June 6, 2024, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate and Wells Fargo Bank to obtain a $22.0 million loan secured by the SpringHill Suites Savannah and a $15.0 million loan secured by the Hampton Inn & Suites Exeter. Each loan has a term of ten years, carries a fixed interest rate of 6.70%, and is interest-only for its duration.
[4] | The interest rate for the revolving credit facility is variable and based on one-month term secured overnight financing rate ("SOFR") plus a spread of 1.50% to 2.25% based on the Company's leverage and a credit spread adjustment of 0.10%.

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4 + Details
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