Q4 2025 Chatham Lodging Trust Earnings Call Transcript
Key Points
- Chatham Lodging Trust (CLDT) achieved the highest operating margins in the industry for the first time since the pandemic, reclaiming its top spot among rankings held from 2010 to 2019.
- The company successfully limited its GOP margin decline to only 20 basis points despite flat RevPAR, by focusing on staffing levels and improving productivity.
- Chatham Lodging Trust (CLDT) reduced its net debt by $70 million and decreased its leverage ratio to 20%, compared to almost 35% in 2019.
- The company repurchased approximately 1.8 million shares, or 4% of its outstanding shares, at an average price of $6.87 per share, which is below current trading levels.
- Chatham Lodging Trust (CLDT) completed the largest and most attractive financing in its history with a total capacity of $0.5 billion, reducing overall borrowing costs.
- RevPAR in Silicon Valley, the company's largest market, grew only 1% in 2025, with a decline in the second half of the year.
- San Diego RevPAR declined 8% in 2025 due to a retraction from an all-time best convention calendar in 2024 and the opening of a nearby competitor.
- The company experienced a 1.8% decline in RevPAR in Q4 2025, which impacted overall performance.
- Chatham Lodging Trust (CLDT) did not make any external acquisitions in 2025, missing opportunities for growth.
- The company faces potential utility cost pressures in early 2026 due to recent cold storms affecting the Central, Southeast, and Northeast regions.
Good morning, ladies and gentlemen, and welcome to the Chatham Lodging Trust fourth-quarter 2025 financial results conference call. (Operator Instructions) I would now like to turn the conference call over to Chris Daly, owner of Daly Gray, Inc. Please go ahead.
Thank you, Jenny. Good morning, everyone, and welcome to the Chatham Lodging Trust fourth-quarter 2025 results conference call.
Please note that many of our comments today are considered forward-looking statements as defined by federal securities law. These statements are subject to risks and uncertainties, both known and unknown, as described in our most recent Form 10-K and other SEC filings. All information in this call is as of February 25, 2026, unless otherwise noted, and the company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
You can find copies of our SEC filings and earnings release, which contain reconciliations to non-GAAP
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