CHATHAM LODGING TRUST (Form: 8-K)  

 


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   February 5, 2013

CHATHAM LODGING TRUST
__________________________________________
(Exact name of registrant as specified in its charter)

     
Maryland 001-34693 27-1200777
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
50 Cocoanut Row, Suite 211, Palm Beach, Florida   33480
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   (561) 802-4477

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Top of the Form

Item 7.01 Regulation FD Disclosure.

On February 6, 2013, Chatham Lodging Trust (the "Company") announced that it has acquired the 197-room Courtyard by Marriott Houston Medical Center for $34.75 million.

A copy of such press release is furnished as Exhibit 99.1 to this report.





Item 9.01 Financial Statements and Exhibits.

Press Release of the Company, dated February 6, 2013, furnished under Item 7.01,





The information contained in the press release attached as Exhibit 99.1 to this report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Furthermore, the information contained in the press release attached as Exhibit 99.1 to this report shall not be deemed to be incorporated by reference in the filings of the registrant under the Securities Act of 1933.


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    CHATHAM LODGING TRUST
          
February 7, 2013   By:   Dennis M. Craven
       
        Name: Dennis M. Craven
        Title: Chief Financial Officer


Top of the Form

Exhibit Index


     
Exhibit No.   Description

 
99.1
  Press release dated February 6, 2013 (furnished pursuant to Item 7.01)
EX-99.1

         
For Immediate Release    
Contact:  
Jerry Daly
Daly Gray Public Relations
jerry@dalygray.com
  Dennis Craven
Chief Financial Officer
dcraven@cl-trust.com
   
 
   
   
(703) 435-6293
  (561) 227-1386

Chatham Lodging Acquires Courtyard by Marriott Houston Medical Center,
197-Room Hotel in Premier Location in One of Nation’s Top Markets

PALM BEACH, Fla., February 6, 2013—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium- branded, select-service hotels, today announced that it has acquired the three-year-old Courtyard by Marriott Houston Medical Center hotel in Houston, Texas for $34.75 million. The company funded the acquisition under its secured revolving credit facility.

The eight-story, 197-room hotel, including six suites, is located at 7702 Main Street, adjacent to the world’s largest medical complex, the Texas Medical Center. More than 50 medical organizations, housed in 280 buildings comprising more than 45 million square feet of space on 1,300 acres, treat seven million-plus patients annually. The Texas Medical Center will continue its rampant growth as $7.1 billion of capital investment is planned through 2014. Houston, known as the “Energy Capital of the World,” is the nation’s fifth largest metropolitan area and is home to 26 Fortune 500 companies. The city has seen the highest employment gains in the U. S. for the last six years.

In addition to the Medical Center, the hotel is proximate to Rice University, University of Houston, Texas Southern University, the Houston museum complex comprised of 19 museums, and the 445-acre Hermann Park and Houston Zoo. Less than a mile from the hotel is Reliant Park, North America’s largest and most versatile event venue complex, consisting of Reliant Stadium (Houston Texans), Reliant Center (over 700,000 square feet of exhibit space), Reliant Arena (Houston Livestock Show and Rodeo), and the Reliant Astrodome.

“This is a beautiful, high quality hotel in Houston’s thriving Medical Center area which is forecast to be one of the nation’s top lodging markets in 2013,” said Jeffrey H. Fisher, Chatham’s chief executive officer.  “This property matches up exactly with our strategy of acquiring premium–branded, upscale extended stay and select-service hotels in high demand markets that command high daily rates and revenue. The versatile hotel is perfectly suited for business, leisure and health-care segments. With our Hampton Inn Medical Center hotel right around the corner, we know the market very well and see significant opportunities to maximize revenue and cost efficiencies.”

The hotel, opened in February 2010, features Marriott’s new lobby concept, as well as three meeting rooms comprising approximately 2,000 square feet. Additional amenities include a Zen garden and multiple seating options inside and outside the building that allow guests to stay productive and relaxed. A well-appointed lobby theatre area with contemporary media pods are among some of the options that offer a comfortable space to enjoy a meal from the Bistro Restaurant while watching personal 20-inch, flat-screen, high-definition televisions.

The hotel will be managed by Island Hospitality Management, a hotel management company 90 percent-owned by Fisher. 

“We have invested more than $60 million in the last six weeks in two high quality, attractively-priced assets,” commented Peter Willis, chief investment officer. “Our relationships with other owners give us access to properties that others typically do not see. This property, for example, was purchased from an owner from whom we have acquired other top-quality hotels. We have an active pipeline aligned with our investment strategy, which allows us to be selective when making our final investment decisions.”

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised REIT that was organized to invest in upscale extended-stay hotels and premium-branded, select-service hotels. The company currently owns 20 hotels with an aggregate of 2,733 rooms/suites in 11 states and the District of Columbia and holds a minority investment in a joint venture that owns 55 hotels with an aggregate of 7,282 rooms/suites. Additional information about Chatham may be found at www.chathamlodgingtrust.com.

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 about Chatham Lodging Trust, including statements regarding future plans, strategies, performance, acquisitions, capital expenditures, future operating results and the timing and composition of revenues, among others, and statements containing words such as “expects,” “believes” or “will,” which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results or performance to differ materially from those discussed in such statements. Additional risks are discussed in the company’s filings with the Securities and Exchange Commission.

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