Chatham Lodging Trust Prices Public Offering of Common Shares

  Chatham Lodging Trust Prices Public Offering of Common Shares

Business Wire

PALM BEACH, Fla. -- June 13, 2013

Chatham Lodging Trust (NYSE: CLDT) today announced that it has priced its
public offering of 4,500,000 common shares of beneficial interest, $0.01 par
value per share, at $16.35 per share, for total gross proceeds of $73,575,000,
prior to underwriting discounts and offering expenses.

The offering is expected to close on June 18, 2013. The underwriters have a
30-day option to purchase up to an additional 675,000 shares to cover
overallotments, if any.

The company will contribute the net proceeds of this offering to its operating
partnership in exchange for common units of limited partnership interest in
the operating partnership. The company’s operating partnership intends to use
a portion of the net proceeds of the offering to repay debt under the
company’s senior secured revolving credit facility and to fund the acquisition
of the 178-room Hyatt Place^® Pittsburgh/North Shore in Pittsburgh,
Pennsylvania. The company’s operating partnership intends to use any remaining
net proceeds to invest in additional hotel properties in accordance with the
company’s investment strategy and for general corporate purposes.

The common shares were offered under the company’s existing shelf registration
statement, which was declared effective by the Securities and Exchange
Commission on February 10, 2012. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

Barclays and UBS Investment Bank are acting as joint book-running managers for
the offering, and Stifel and FBR Capital Markets are acting as senior
co-managers. Baird, Credit Agricole CIB, JMP Securities, Piper Jaffray and
SunTrust Robinson Humphrey are acting as co-managers. A copy of the prospectus
can be obtained by contacting Barclays c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717,
Barclaysprospectus@broadridge.com, (888) 603-5847 or by contacting UBS
Investment Bank, Attention: Prospectus Dept., 299 Park Avenue, New York, NY
10171, (888) 827-7275.

About Chatham Lodging Trust

Chatham Lodging Trust  is a self-advised real estate investment trust that was
organized to invest in upscale extended-stay hotels and premium-branded
select-service hotels. The company currently owns 20 hotels with an aggregate
of 2,733 rooms/suites in eleven states and the District of Columbia.

FORWARD-LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL
SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS ARE BASED UPON THE COMPANY'S
PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR
EXAMPLE: THE FACT THAT THIS OFFERING HAS PRICED MAY IMPLY THAT THE OFFERING
WILL CLOSE, BUT THE CLOSING IS SUBJECT TO CONDITIONS CUSTOMARY IN TRANSACTIONS
OF THIS TYPE AND MAY BE DELAYED OR MAY NOT OCCUR AT ALL. IN ADDITION, THE FACT
THAT THE UNDERWRITERS HAVE AN OVERALLOTMENT OPTION MAY IMPLY THAT THIS OPTION
WILL BE EXERCISED. HOWEVER, THE UNDERWRITERS ARE NOT UNDER ANY OBLIGATION TO
EXERCISE THIS OPTION, OR ANY PORTION OF IT, AND MAY NOT DO SO. STATEMENTS
CONTAINING WORDS SUCH AS “EXPECTS,” “BELIEVES” OR “WILL,” WHICH INDICATE THAT
THOSE STATEMENTS ARE FORWARD-LOOKING. EXCEPT FOR HISTORICAL INFORMATION, THE
MATTERS DISCUSSED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT
ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE THE ACTUAL
RESULTS OR PERFORMANCE TO DIFFER MATERIALLY FROM THOSE DISCUSSED IN SUCH
STATEMENTS. ADDITIONAL RISKS ARE DISCUSSED IN THE COMPANY’S FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE
UPON FORWARD-LOOKING STATEMENTS.

Contact:

Media
Daly Gray Public Relations
Jerry Daly, 703-435-6293
jerry@dalygray.com
or
Chatham Lodging Trust
Dennis Craven, 561-227-1386
Chief Financial Officer
dcraven@cl-trust.com