Chatham Lodging (CLDT) - Hoya Hotseat
Hoya Capital
Chatham Lodging Trust (CLDT) is a small-cap hotel REIT that owns a portfolio of 36 hotels with roughly 5,500 rooms. CLDT focuses exclusively on select-service hotels, which typically have better margin profiles than full-service hotels. Roughly two-thirds of its hotels are extended-stay properties, a unique skew within the REIT space.
The majority of its portfolio is operated by one of the major hotel brands, including roughly half of its portfolio under Marriott’s Residence Inn brand. CLDT’s portfolio spans 16 U.S. states, with a regional skew towards the West Coast - particularly Silicon Valley - and the Northeast.
President & CEO Jeffrey Fisher joins the Hoya Hotseat to discuss Chatham’s backstory and growth strategy since its 2010 IPO, the advantages of its relatively unique focus on extended-stay and select-service hotels, and the broader industry trends shaping the hospitality sector.