Chatham Lodging Trust (CLDT) is experiencing a positive price movement today, driven by favorable trends in the U.S. hotel industry. Recent data from STR highlights a robust performance in the hotel sector for the week ending December 7, 2024. The industry saw a significant increase in revenue per available room (RevPAR), particularly in the latter half of the week, with a 4.3% overall increase. This growth was primarily fueled by a rise in average daily rates (ADR), which climbed 3.8%, while occupancy saw a modest uptick. The strong performance was consistent across various markets, with notable gains in cities like Chicago, Las Vegas, and Tampa, driven by events and recovery efforts from recent hurricanes.
The positive momentum in the hotel industry is further supported by increased group demand, which surged 17.9% in the last four days of the week compared to the previous year. This demand is particularly strong in luxury and upper-upscale hotels, reflecting a broader trend of recovery and growth in the hospitality sector. Additionally, global RevPAR, excluding the U.S., has been on an upward trajectory, maintaining a 9.1% increase over the past nine weeks. These factors collectively contribute to the optimistic outlook for hotel REITs like Chatham Lodging Trust, which benefits from the improving market conditions and increased demand.
The current price of Chatham Lodging Trust (CLDT) is $9.74, reflecting a 0.72% increase from the previous close.