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Chesapeake Lodging Trust (CHSP) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Chesapeake Lodging Trust

CIK: 1473078 Ticker: CHSP
 
 
 
 
 
Exhibit 99.1
image1a08.jpg
 
PRESS RELEASE
For Immediate Release
 Contact: Douglas W. Vicari (571) 349-9452
 
 
 


 CHESAPEAKE LODGING TRUST REPORTS FOURTH QUARTER RESULTS

ARLINGTON, VA, February 21, 2019 – Chesapeake Lodging Trust (NYSE:CHSP), a lodging real estate investment trust (REIT), reported today its financial results for the quarter ended December 31, 2018.
HIGHLIGHTS
Comparable RevPAR: 3.7% increase for the 20-hotel portfolio over the same period in 2017.
Comparable Adjusted Hotel EBITDAre Margin: 110 basis point increase to 31.1% for the 20-hotel portfolio over the same period in 2017.
Adjusted Hotel EBITDAre: $44.3 million.
Adjusted Corporate EBITDAre: $39.9 million.
Net income available to common shareholders: $13.2 million or $0.22 per diluted common share.
Adjusted FFO: $31.8 million or $0.54 per diluted common share.

“During the fourth quarter, our hotel portfolio generated RevPAR growth of 3.7%, which exceeded the midpoint of our provided outlook, and margin improvement of 110 basis points, which exceeded the high end of our provided outlook. We were successful in our appeals of property tax reassessments in Chicago during the quarter which contributed to 30 basis points of margin improvement. Overall, we are very pleased with our results and performance during the fourth quarter of 2018,” said James L. Francis, Chesapeake Lodging Trust’s President and Chief Executive Officer.
 
Mr. Francis continued, “Our renovation at the Hotel Adagio San Francisco, Autograph Collection, was completed in the fourth quarter of 2018 and now our four hotels located in San Francisco, which contribute over 25% of our portfolio EBITDAre, are fully renovated and well positioned to take advantage for what is widely expected to be a record-setting 2019 in terms of city-wide room nights generated from the completion of the newly renovated and expanded Moscone Center. The forecasted strength in San Francisco is expected to contribute significantly to our portfolio’s healthy RevPAR growth expected in 2019 despite (1) weaker city-wide convention calendars in several of our other markets, including Boston, Chicago, and Washington, DC and (2) negative impact, primarily in the first quarter, from guestroom renovations at three of our other hotels.”




The following information was filed by Chesapeake Lodging Trust (CHSP) on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Chesapeake Lodging Trust's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Commitments And Contingencies
Commitments And Contingencies (Details)
Dispositions
Dispositions (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Equity Plan
Equity Plan (Details Textual 1)
Equity Plan (Details Textual 2)
Equity Plan (Tables)
Equity Plan, Table 1 (Details)
Fair Value Measurements And Derivative Instrument
Fair Value Measurements And Derivative Instrument (Details)
Fair Value Measurements And Derivative Instrument (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes, Table 1 (Details)
Income Taxes, Table 2 (Details)
Income Taxes, Table 3 (Details)
Income Taxes, Textual (Details)
Indirect Expenses
Indirect Expenses (Details)
Indirect Expenses (Tables)
Intangible Assets And Liability
Intangible Assets And Liability (Details Textual)
Intangible Assets And Liability (Tables)
Intangible Assets And Liability, Table 1 (Details)
Long-Term Debt
Long-Term Debt (Details 1)
Long-Term Debt (Details 2 Textual)
Long-Term Debt (Details 3)
Long-Term Debt (Tables)
Organization And Description Of Business
Organization And Description Of Business (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Quarterly Operating Results (Unaudited)
Quarterly Operating Results (Unaudited) (Details)
Quarterly Operating Results (Unaudited) (Tables)
Schedule Iii-Real Estate And Accumulated Depreciation
Schedule Iii-Real Estate And Accumulated Depreciation Schedule Iii-Aggregate Cost Of Real Estate Assets For Federal Income Tax Purposes (Details)
Schedule Iii-Real Estate And Accumulated Depreciation, Table 1 (Details)
Schedule Iii-Real Estate And Accumulated Depreciation, Table 2 (Details)
Schedule Iii-Real Estate And Accumulated Depreciation, Table 3 (Details)
Shareholders' Equity
Shareholders' Equity (Details Textual)
Shareholders' Equity (Details)
Shareholders' Equity (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: CHSP
CIK: 1473078
Form Type: 10-K Annual Report
Accession Number: 0001473078-19-000009
Submitted to the SEC: Thu Feb 21 2019 11:44:01 AM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Real Estate Investment Trusts

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