Chatham Lodging Trust Expects Q2 Total Hotel Revenue Of $84.3M-$85.4M And Adjusted FFO Per Share Of $0.33-$0.36 Vs. $0.42 Consensus
2024 Second Quarter Guidance
The company's 2024 second quarter guidance reflects the following assumptions:
- No renovations.
- Repayment of the $29 million maturing mortgage during April on the Anaheim Residence Inn using available cash.
- $50 million of incremental borrowings on Chatham's term loan on May 3, 2024.
- $60 million of CMBS debt issuance during the second half of May
- No additional acquisitions, dispositions, debt or equity issuance
|
|
Q2 2024 |
|
RevPAR |
$149 - $151 |
|
RevPAR growth |
2.5% to 4.0% |
|
Total hotel revenue |
$84.3-$85.4 M |
|
Net income (loss) |
$2.1-$3.8 M |
|
Net income (loss) per diluted share |
$0.04-$0.07 |
|
Adjusted EBITDA |
$28.7-$30.4 M |
|
Adjusted FFO |
$16.8-$18.5 M |
|
Adjusted FFO per diluted share |
$0.33-$0.36 |
|
Hotel EBITDA margins |
36.5%-38.0% |
|
Corporate cash administrative expenses |
$2.8 M |
|
Corporate non-cash administrative expenses |
$1.7 M |
|
Interest income |
$0.7 M |
|
Interest expense (excluding fee amortization) |
$7.7 M |
|
Non-cash amortization of deferred fees |
$0.4 M |
|
Weighted average shares/units outstanding |
51.0 M |
The company provides guidance but does not undertake to update it for any developments in its business. Achievement of the results is subject to the risks disclosed in the company's filings with the Securities and Exchange Commission.