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Access here alternative investment news about Chatham Lodging Trust Sells Western Pennsylvania Hotels | Traveldailynews International
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Chatham Lodging Trust Sells Western Pennsylvania Hotels | Traveldailynews International

by traveldailynews.com posted 1month ago 16 views
Sale enhances portfolio quality. : WEST PALM BEACH, FLA. - Chatham Lodging Trust, a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, announced that it has sold the 105-room Courtyard by Marriott Altoona, Pa., as well as the 86-suite SpringHill Suites by Marriott Washington, Pa. for approximately $10 million. Inclusive of brand required improvements of over $4 million, Chatham sold the hotels at an approximate six percent net operating income capitalization rate (after an assumed annual capital reserve of four percent of total hotel revenues).

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