Chatham Lodging Trust

Chatham Lodging Trust is a Maryland real estate investment trust formed on October 26, 2009, that invests primarily in upscale extended-stay and premium-branded select-service hotels. The company elected to be taxed as a REIT for federal income tax purposes starting with its 2010 taxable year and had no operations before its initial public offering in April 2010. Substantially all of the company's assets are held by, and all operations are conducted through, Chatham Lodging, L.P., its operating partnership. Chatham Lodging Trust is the sole general partner and owns 100% of the common units of limited partnership interest in the Operating Partnership. As of December 31, 2025, the company owned 33 hotels with a total of 5,021 rooms located in 15 states and the District of Columbia. To maintain its REIT qualification, the company does not operate its hotels directly. Instead, the Operating Partnership and its subsidiaries lease the wholly owned hotels to taxable REIT subsidiary lessees, which are wholly owned by the company's taxable REIT subsidiary holding company. These leases involve rental payments equal to the greater of a fixed base rent or a percentage rent based on hotel room revenue. The taxable REIT subsidiary lessees then engage third-party management companies for the day-to-day management of the hotels. As of December 31, 2025, Island Hospitality Management, LLC, which is 100% owned by Jeffrey H.