Chatham lodging trust (CLDT)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenue:
Total revenue

60,209

74,695

90,080

87,874

75,679

77,044

88,897

85,374

72,915

68,413

82,953

79,643

70,835

69,287

79,733

78,001

68,850

67,259

78,328

72,414

58,949

52,611

60,662

47,077

36,866

34,333

35,370

30,746

25,779

24,276

27,002

26,359

22,827

22,129

23,578

14,902

12,487

8,384

4,658

Expenses:
Hotel operating expenses:
Total hotel operating expenses

36,341

42,384

45,912

44,129

41,826

42,357

45,549

42,967

39,689

39,483

40,862

39,080

36,254

35,582

39,016

37,994

36,185

35,461

36,864

34,325

30,344

27,563

28,983

23,486

20,929

19,132

18,601

16,151

14,712

13,835

14,347

13,861

12,987

13,085

12,838

8,336

7,908

4,927

2,665

Depreciation and amortization

13,061

12,811

12,923

12,999

12,772

12,249

11,963

11,921

12,036

11,630

10,944

11,714

12,004

12,022

11,997

12,281

12,475

12,836

12,559

12,063

11,523

10,756

10,273

7,365

6,316

5,719

4,748

4,026

3,756

3,412

3,399

4,123

3,339

3,324

3,399

3,804

1,444

798

402

Impairment loss

15,300

-

-

-

0

-

-

-

-

-

0

6,663

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property taxes, ground rent and insurance

6,099

6,054

6,255

6,242

6,166

5,804

5,919

6,180

5,775

5,206

5,349

5,573

4,788

6,110

5,417

5,014

5,023

5,893

4,349

4,254

4,085

3,911

3,254

2,809

2,650

2,586

2,297

2,045

1,987

1,914

1,918

1,623

1,633

1,598

1,623

1,068

1,032

471

247

General and administrative

2,765

3,466

3,486

3,611

3,514

3,302

3,649

3,547

3,622

3,119

3,151

3,287

3,268

2,043

2,992

2,972

3,112

3,302

2,792

2,156

3,427

2,449

2,718

2,364

2,321

2,175

1,910

2,064

1,982

2,165

1,676

1,947

1,777

1,523

1,427

1,584

1,268

1,368

972

Other charges

2,768

1,090

309

25

17

3,549

7

264

-14

523

-15

15

0

151

49

298

12

44

623

524

260

3,005

335

5,559

1,482

760

1,345

1,059

177

129

24

44

39

4,119

2,104

1,398

85

1,161

1,005

Reimbursable costs from unconsolidated real estate entities

1,580

1,443

1,301

1,435

1,491

1,408

1,435

1,361

1,539

-1,290

2,302

2,402

2,494

3,462

804

870

1,054

1,098

928

869

848

411

416

493

672

409

458

385

383

462

410

345

405

-

0

-

-

-

-

Total operating expenses

77,896

67,248

70,186

68,441

65,786

68,669

68,522

66,240

62,647

58,671

62,593

68,734

58,808

59,370

60,275

59,429

57,861

58,634

58,115

54,191

50,487

48,095

45,979

42,076

34,370

30,781

29,359

25,730

22,997

21,917

21,774

21,943

20,180

23,649

21,391

16,190

11,737

8,725

5,291

Operating (loss) income before gain on sale of hotel property

-17,687

7,447

19,894

19,433

9,893

8,375

20,375

19,134

10,268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-4

-412

0

0

0

0

0

0

-184

0

0

0

-933

-

0

0

-

-

-

-

-

-

-

Gain on sale of hotel property

1

14

4

-3,300

0

0

0

-1

-17

3,327

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating (loss) income

-17,686

7,461

19,898

16,133

9,893

8,375

20,375

19,133

10,251

13,069

20,360

10,909

12,027

9,917

19,458

18,572

10,989

8,625

20,213

18,223

8,462

4,516

14,683

5,001

2,496

3,552

6,011

5,016

2,782

2,359

5,228

4,416

2,647

-1,520

2,187

-1,288

750

-341

-633

Interest and other income

81

35

34

66

55

110

335

15

2

3

9

6

12

8

7

15

21

41

31

166

26

21

62

12

13

7

9

111

5

1

53

0

1

4

6

6

6

72

38

Interest expense, including amortization of deferred fees

6,833

6,869

7,050

7,131

7,197

6,872

6,708

6,667

6,631

7,070

7,065

6,773

6,993

7,086

7,082

7,092

7,037

7,228

7,031

6,852

6,813

6,540

6,714

4,362

3,738

3,147

2,775

2,817

2,841

3,338

3,627

3,829

3,847

3,688

3,087

642

773

19

-

Loss from unconsolidated real estate entities

-3,673

9,898

-2,784

457

-1,123

-1,571

689

1,004

754

449

-1,189

-927

85

628

-1,051

-942

647

133

-1,467

-1,333

256

2,359

-845

2,000

316

480

674

89

631

-

195

-703

-

-

-

-

-

-

-

Loss on sale from unconsolidated real estate entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-8

-

-

0

0

-

-

0

66,701

-

-

0

0

-

-

-

-

565

-

0

-

-

-

-

(Loss) income before income tax expense

-28,111

-2,371

10,098

9,525

1,628

-202

14,691

13,485

2,868

5,553

14,493

5,069

4,961

2,209

13,434

12,429

3,322

4,469

14,680

12,870

1,419

-5,313

8,876

65,352

-1,729

-68

2,571

2,221

-1,618

-2,360

1,459

1,290

-1,764

-6,201

-894

-1,924

-17

-288

-595

Income tax expense

0

0

0

0

0

-28

0

0

0

79

0

0

317

-468

-12

179

0

-39

274

25

0

20

44

38

3

49

30

45

0

14

-39

133

-33

-6

61

12

2

-

47

Net (loss) income

-28,111

-2,371

10,098

9,525

1,628

-174

14,691

13,485

2,868

5,474

14,493

5,069

4,644

2,677

13,446

12,250

3,322

4,508

14,406

12,845

1,419

-5,333

8,832

65,314

-1,732

-

2,541

2,176

-

-

-

-

-

-

-

-

-

-

-

Net (loss) income attributable to noncontrolling interests

-328

-22

96

88

15

-2

111

100

20

35

101

35

31

17

91

82

22

31

91

82

8

-32

132

108

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

Net (loss) income attributable to common shareholders

-27,783

-2,349

10,002

9,437

1,613

-172

14,580

13,385

2,848

5,439

14,392

5,034

4,613

2,660

13,355

12,168

3,300

4,477

14,315

12,763

1,411

-5,301

8,700

65,206

-1,732

-117

2,541

2,176

-1,618

-2,374

1,498

1,157

-1,731

-6,195

-955

-1,936

-19

-288

-642

(Loss) income per Common Share - Basic:
Net income (loss) attributable to common shareholders (Note 11) (in dollars per share)

-0.59

-0.05

0.21

0.20

0.03

0.00

0.31

0.29

0.06

0.12

0.36

0.13

0.12

0.06

0.35

0.32

0.09

0.13

0.37

0.33

0.04

-0.39

0.32

2.46

-0.07

0.00

0.11

0.12

-0.10

-0.17

0.10

0.08

-0.13

-0.48

-0.07

-0.14

0.00

-0.03

-0.09

(Loss) income per Common Share - Diluted:
Net income (loss) attributable to common shareholders (Note 11) (in dollars per share)

-0.59

-0.05

0.21

0.20

0.03

0.00

0.31

0.29

0.06

0.12

0.36

0.13

0.12

0.07

0.35

0.31

0.08

0.12

0.37

0.33

0.04

-0.38

0.31

2.44

-0.07

0.01

0.11

0.11

-0.10

-0.17

0.10

0.08

-0.13

-0.48

-0.07

-0.14

0.00

-0.03

-0.09

Weighted average number of common shares outstanding:
Basic (in shares)

46,948

46,924

46,913

46,760

46,556

46,522

46,149

45,867

45,753

43,251

39,298

38,525

38,361

38,315

38,307

38,299

38,274

38,229

38,212

38,211

37,018

34,044

27,370

26,437

26,271

26,275

22,508

18,147

17,212

13,822

13,819

13,810

13,794

13,796

13,766

13,757

11,800

9,125

7,119

Diluted (in shares)

46,948

47,228

47,152

46,976

46,734

46,482

46,384

46,084

46,022

43,574

39,550

38,749

38,573

38,473

38,567

38,477

38,413

38,733

38,614

38,618

37,322

34,684

27,695

26,734

26,271

26,770

22,769

18,383

17,212

13,569

13,966

13,915

13,794

13,796

13,766

13,757

11,800

9,125

7,119

Distributions per common share (in dollars per share)

0.22

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.33

0.41

0.33

0.33

0.31

0.38

0.30

0.30

0.30

-

0.24

0.24

0.21

-

0.21

0.21

0.21

-

0.20

0.20

0.17

-

0.17

0.17

-

-

-

Room
Total revenue

53,048

66,405

81,807

79,970

68,085

69,915

81,457

78,274

66,251

65,051

76,221

72,801

64,393

61,907

74,736

72,768

63,934

62,050

73,357

67,698

55,032

49,508

57,482

43,978

33,958

31,792

33,182

28,960

24,235

22,788

25,337

24,858

21,583

21,133

22,660

14,489

12,139

8,147

4,544

Total hotel operating expenses

13,394

16,040

17,288

16,372

15,570

16,118

17,261

15,945

14,553

15,004

15,618

15,024

13,505

13,755

15,068

14,574

13,812

13,039

13,430

12,755

10,941

10,287

10,672

8,802

7,755

7,248

6,845

6,065

5,551

5,231

5,462

5,291

4,973

5,146

4,653

3,218

2,994

1,925

1,070

Food and beverage
Total revenue

2,063

2,426

2,436

2,535

2,427

2,296

2,274

2,212

2,098

1,902

1,378

1,473

1,502

1,493

1,494

1,726

1,508

1,669

1,345

1,355

1,167

885

666

585

628

594

368

199

150

-

76

72

-

-

-

-

-

-

-

Total hotel operating expenses

1,889

2,134

2,133

2,120

2,009

1,963

1,870

1,739

1,740

1,571

1,307

1,212

1,252

1,225

1,280

1,245

1,178

1,265

1,042

973

847

581

487

432

466

439

189

182

134

-

87

87

-

-

-

-

-

-

-

Other
Total revenue

3,518

4,421

4,536

3,934

3,676

3,425

3,731

3,527

3,027

2,750

3,052

2,967

2,446

2,425

2,699

2,637

2,354

2,442

2,698

2,492

1,902

1,807

2,098

2,021

1,608

1,538

1,362

1,202

1,011

921

1,179

1,084

839

815

918

413

348

237

114

Reimbursable costs from unconsolidated real estate entities
Total revenue

1,580

1,443

1,301

1,435

1,491

1,408

1,435

1,361

1,539

-1,290

2,302

2,402

2,494

3,462

804

870

1,054

1,098

928

869

848

411

416

493

672

409

458

385

383

462

410

345

405

-

0

-

-

-

-

Telephone
Total hotel operating expenses

378

386

409

410

433

450

442

415

459

441

410

387

409

412

449

430

421

471

412

416

409

376

356

285

287

256

236

216

191

-

204

173

-

-

-

-

-

-

-

Other hotel operating
Total hotel operating expenses

810

999

1,130

971

939

893

886

796

721

840

737

710

599

568

563

638

589

641

638

661

527

497

609

507

443

424

430

378

348

-7,339

454

379

8,014

-17,257

8,185

5,118

4,914

3,002

1,595

General and administrative
Total hotel operating expenses

5,278

6,531

6,369

6,574

6,167

6,253

6,498

6,783

6,033

6,105

5,906

5,974

5,654

5,425

5,652

5,700

5,497

5,699

5,430

5,330

4,642

4,553

4,439

3,847

3,426

3,112

3,159

2,680

2,578

-

2,318

2,348

-

-

-

-

-

-

-

Franchise and marketing fees
Total hotel operating expenses

4,720

5,788

7,146

6,984

5,932

5,901

6,863

6,575

5,525

5,490

6,366

6,089

5,302

5,120

6,157

5,948

5,187

5,094

6,092

5,560

4,494

4,021

4,694

3,602

2,793

2,587

2,663

2,243

1,901

-

2,013

1,981

-

-

-

-

-

-

-

Advertising and promotions
Total hotel operating expenses

1,510

1,542

1,483

1,485

1,533

1,550

1,627

1,485

1,565

1,426

1,353

1,270

1,331

1,248

1,203

1,344

1,352

1,304

1,324

1,192

1,220

927

1,059

859

831

736

738

651

657

-

570

560

-

-

-

-

-

-

-

Utilities
Total hotel operating expenses

2,516

2,559

3,033

2,525

2,750

2,626

3,064

2,446

2,699

2,514

2,708

2,352

2,370

2,244

2,684

2,235

2,382

2,305

2,733

2,100

2,326

2,019

2,148

1,482

1,620

1,281

1,492

1,117

1,065

-

1,210

936

-

-

-

-

-

-

-

Repairs and maintenance
Total hotel operating expenses

3,462

3,642

3,637

3,431

3,611

3,666

3,783

3,637

3,624

3,419

3,467

3,179

3,252

3,001

3,084

3,158

3,201

3,158

2,887

2,856

2,821

2,286

2,363

2,057

1,999

1,599

1,710

1,556

1,445

-

1,216

1,266

-

-

-

-

-

-

-

Management fees
Total hotel operating expenses

2,024

2,436

2,950

2,892

2,544

2,595

2,915

2,807

2,437

2,370

2,693

2,588

2,247

2,218

2,558

2,384

2,229

2,141

2,588

2,197

1,816

1,723

1,883

1,396

1,094

1,247

947

887

671

-

707

692

-

-

-

-

-

-

-

Insurance
Total hotel operating expenses

360

327

334

365

338

342

340

339

333

303

297

295

333

366

318

338

337

344

288

285

301

293

273

217

215

203

192

176

171

-

106

148

-

-

-

-

-

-

-