Chatham Lodging Trust Q3 RevPAR rises to record high on Silicon Valley hotel growth
CLDT•Chatham Lodging Trust’s third-quarter RevPAR rose more than 8% year over year to a record $161, while adjusted FFO per share increased 31% to $0.46. The company expects 2026 RevPAR of $145-$146 and adjusted FFO per diluted share of $1.38-$1.40.
1. Quarterly performance
Third-quarter RevPAR rose more than 8% year over year to a record $161. Net income more than doubled from a year earlier, adjusted FFO per share increased 31% to $0.46, and adjusted hotel EBITDA margin rose 190 basis points to 39%.
2. Hotel and cost drivers
RevPAR at four Silicon Valley hotels increased 23%, COO Dennis Craven said. The recently acquired six-hotel portfolio recorded a 10% increase in RevPAR to $132, exceeding underwriting expectations, CEO Jeffrey H. Fisher said. Labor and productivity cost controls helped expand gross operating profit margins by 110 basis points.
3. 2026 outlook
Chatham expects 2026 RevPAR of $145-$146, up 4.0%-4.5% from the prior year, and total hotel revenue of $320 million-$321 million. It projects adjusted FFO per diluted share of $1.38-$1.40.
