Chatham Lodging draws down on revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, March 26 – Chatham Lodging Trust drew down on its unsecured revolving credit facility, increasing its liquidity position to about $55 million, according to a press release.

“The hotel industry is in the midst of unprecedented disruption due to the extreme severity of the Covid-19 pandemic, and occupancy across the hotel industry has plummeted to levels never before experienced,” commented Jeffrey H. Fisher, Chatham’s president and chief executive officer, in the release. “Our hotels are no different, but contrary to other hotel companies that are closing the majority of their hotels, our hotels are faring a bit better with occupancy over the last week of 19 percent across our portfolio.”

Chatham Lodging Trust is a Palm Beach, Fla.-based real estate investment trust that invests in upscale extended-stay hotels and premium-branded select-service hotels.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.