I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 87.8 M.
EPS: As of FY2026 Q2, the actual value is USD 0.13, beating the estimate of USD 0.11.
EBIT: As of FY2026 Q2, the actual value is USD 22.28 M.
Net Income (to common shareholders)
Net income for the three months ended June 30, 2026, was $6.2 million, an increase from $3.4 million in the 2025 second quarter. For the six months ended June 30, 2026, net income was - $0.1 million, compared to $2.9 million in the 2025 period.
Gross Operating Profit (GOP)
Gross Operating Profit for the three months ended June 30, 2026, was $41 million, up from $37 million in the 2025 second quarter. The GOP margin for the three months ended June 30, 2026, was 47%, an increase from 46% in the prior year. For the six months ended June 30, 2026, the GOP margin was 44%, compared to 43% in the prior year. Chatham Lodging Trust increased GOP margins by 50 basis points to 47% in the 2026 second quarter. Excluding an approximate $1 million worker’s compensation refund in the 2025 second quarter, GOP margins would have risen by 170 basis points.
Hotel EBITDA
Hotel EBITDA was $36 million for the three months ended June 30, 2026, an increase from $31 million in the 2025 second quarter. The Hotel EBITDA margin was 41% for the three months ended June 30, 2026, up from 39% in the prior year. For the six months ended June 30, 2026, the Hotel EBITDA margin was 37%, compared to 35% in the prior year. Hotel EBITDA margins rose 220 basis points to 41% in the 2026 second quarter.
Adjusted EBITDA
Adjusted EBITDA increased by 15% to $32.7 million for the three months ended June 30, 2026, from $28.5 million in the 2025 second quarter. For the six months ended June 30, 2026, Adjusted EBITDA was $51.0 million, compared to $46.4 million in the 2025 period.
Adjusted FFO (AFFO)
Adjusted FFO was $23.6 million for the three months ended June 30, 2026, compared to $20.1 million for the same period last year. For the six months ended June 30, 2026, AFFO was $33.7 million, an increase from $29.1 million in the 2025 period. AFFO per diluted share for the three months ended June 30, 2026, was $0.48, representing a 22% improvement from $0.39 in the 2025 second quarter. For the six months ended June 30, 2026, AFFO per diluted share was $0.67, compared to $0.56 in the 2025 period.
Corporate EBITDA
Corporate EBITDA for the three months ended June 30, 2026, was $33 million, compared to $29 million in the 2025 second quarter.
Cash Flow before Capital Expenditures (CapEx)
Cash flow before Capital Expenditures was $24 million for the three months ended June 30, 2026, an increase from $20 million in the 2025 second quarter.
Capital Expenditures
Approximately $7 million in capital expenditures was incurred in Q2 2026. The 2026 budget for capital expenditures is approximately $27 million, including about $17 million for renovations at three hotels. Total development costs for the Home2 Suites by Hilton Portland Downtown-Waterfront are expected to be approximately $45 million, with $1.6 million incurred to date.
Debt and Capital Structure (as of June 30, 2026)
Net debt stood at $407 million, with total debt outstanding at $418 million at an average interest rate of 5.8%. The debt composition included $143 million of fixed-rate mortgage debt at 7.2%, $200 million outstanding on its term loan at 5.1%, and $75 million outstanding on the $300 million revolving credit facility at 5.2%. The leverage ratio was approximately 24% based on net debt to hotel investments at cost.
Dividends
Chatham Lodging Trust declared a quarterly common dividend of $0.10 per share and a preferred dividend of $0.41406 per share for Q2 2026. Dividends declared per common share were $0.10 for the three months ended June 30, 2026, compared to $0.09 in Q2 2025. For the six months ended June 30, 2026, $0.20 was declared, compared to $0.18 in YTD 2025.
Share Repurchases
In Q2 2026, Chatham Lodging Trust repurchased 0.3 million shares at an average price of $9.07, totaling approximately $2.8 million. Since inception through Q2 2026, the company repurchased 2.5 million shares at an average price of $7.29, for approximately $18.4 million under its $25 million plan, equating to about 5% of outstanding shares/units.
Revenue Per Available Room (RevPAR) (39 comparable hotels)
RevPAR for 39 comparable hotels increased over 3% to $158 in Q2 2026, compared to $153 in the 2025 second quarter, setting an all-time second-quarter high. Occupancy declined 50 basis points to 81% in Q2 2026, while the Average Daily Rate (ADR) rose 390 basis points to $195. Silicon Valley hotels experienced a 7% RevPAR growth, or 9% excluding the Mt. View hotel renovation. The recently acquired six-hotel portfolio saw RevPAR surge 9% to $135, exceeding underwriting expectations. July 2026 RevPAR accelerated 10% to $169 for the 39 hotels, marking an all-time high for July, with Silicon Valley July RevPAR jumping 26% and the acquired six-hotel portfolio July RevPAR jumping 13%.
Outlook / Guidance (Full Year 2026)
Chatham Lodging Trust anticipates full-year 2026 RevPAR to be between $142 and $144, representing a growth of 1.5% to 3.0%. Total hotel revenue is projected to be between $312 million and $316 million, with net income (loss) to common shares expected to range from - $4.7 million to - $1.6 million. Adjusted EBITDA is forecast to be between $99.2 million and $102.3 million, and Adjusted FFO per diluted share is expected to be $1.28 to $1.34.