Chatham Lodging Trust Announces Partial Exercise of Underwriters’ Overallotment Option to Purchase Additional Shares

  Chatham Lodging Trust Announces Partial Exercise of Underwriters’
  Overallotment Option to Purchase Additional Shares

Business Wire

PALM BEACH, Fla. -- June 28, 2013

Chatham Lodging Trust (NYSE: CLDT) today announced the partial exercise of the
underwriters’ overallotment option to purchase an additional 475,823 common
shares of beneficial interest, $0.01 par value per share, at the public
offering price of $16.35 per share less the underwriting discount. The
overallotment option, which will provide additional gross proceeds of
$7,779,706 to the company, prior to deduction of the underwriting discount and
offering expenses, was exercised in connection with the company’s public
offering of 4,500,000 common shares, which priced on June 13, 2013. The
issuance of shares pursuant to the overallotment option closed on June 28,
2013.

The company will contribute the net proceeds of the 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
the net proceeds of the offering to repay debt under its senior secured
revolving credit facility and to invest in additional hotel properties in
accordance with Chatham’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 21 hotels with an aggregate
of 2,911 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.
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:

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