“Chatham Lodging completes acquisition of 2 hotels” plus 2 more |
- Chatham Lodging completes acquisition of 2 hotels
- Chatham Lodging Trust Completes Acquisition of Two Hotels
- Natrona County officials hope PAC will persuade voters to renew lodging tax
| Chatham Lodging completes acquisition of 2 hotels Posted: 24 Aug 2010 02:25 PM PDT On Tuesday August 24, 2010, 5:25 pm EDT PALM BEACH, Fla. (AP) -- Hotel owner Chatham Lodging Trust said Tuesday it completed the acquisition of two Pennsylvania hotels for an undisclosed amount. The 86-room SpringHill Suites by Marriott in Washington, Pa., and the 105-room Courtyard by Marriott in Altoona, Pa., are part of a four-property package Chatham eyed in May for $61 million. In July, Chatham Lodging Trust closed on the purchase of 120-room hotel in Houston for $16.5 million. The acquisition of the remaining hotel, a Residence Inn by Marriott in White Plains, N.Y., is still under contract. The latest hotel purchases mark the eighth and ninth deals completed by Chatham since its initial public offering in April. It will own 11 hotels once all its pending acquisitions are completed. Shares in Chatham rose 69 cents, or 4.5 percent, to close at $16.15. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php | |||||||||||||||||||||||
| Chatham Lodging Trust Completes Acquisition of Two Hotels Posted: 24 Aug 2010 12:53 PM PDT Press Release Source: Chatham Lodging Trust On Tuesday August 24, 2010, 3:53 pm EDT PALM BEACH, Fla., Aug. 24 /PRNewswire-FirstCall/ -- Chatham Lodging Trust (NYSE:CLDT - News), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, today announced that it has completed the acquisition of two hotels as part of a previously announced four-hotel package. The hotels are the 86-room SpringHill Suites by Marriott® in Washington, Pa. and the 105-room Courtyard by Marriott® in Altoona, Pa. The hotels will continue to be managed by Concord Hospitality Enterprises. The company now has closed on three of the hotels in a previously announced four-hotel portfolio. The fourth hotel, a Residence Inn by Marriott® in White Plains, N.Y., remains subject to completion of due diligence and other closing conditions as previously reported. 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 10 hotels with an aggregate of 1,248 rooms/suites and has three additional hotels under contract to purchase. Additional information about Chatham may be found at www.chathamlodgingtrust.com. This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 about Chatham Lodging Trust, including those statements regarding acquisitions, capital expenditures, future operating results and the timing and composition of revenues, among others, and 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.
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| Natrona County officials hope PAC will persuade voters to renew lodging tax Posted: 24 Aug 2010 06:17 PM PDT The best taxes, like Natrona County's 3 percent lodging tax, are those paid by someone else, the director of the Casper Area Convention and Visitors Bureau said Tuesday. So a group of lodging businesspeople are forming a political action committee (PAC) to urge voters in the Nov. 2 general election to renew the tax paid by overnight visitors in hotels, Aaron McCreight said at the monthly meeting of the Natrona County Travel and Tourism Council. McCreight, as director of the convention and visitors bureau, is not a member of the political action committee and said after the meeting he could not advocate for the tax because it pays his salary. Shawn Houck, owner of Adbay.com, is the president of the PAC, McCreight said. Houck did not return calls seeking comment. However, McCreight said he could speak about the lodging tax to educate people The Travel and Tourism Council -- a joint powers board composed of representatives from the city of Casper, Natrona County, Bar Nunn, Edgerton, Evansville and Midwest -- oversees the lodging tax. Its marketing arm, the convention and visitors bureau, administers the revenues to promote central Wyoming through brochures, advertisements, the Internet and other media. So the revenues from the tax, up for renewal every four years, create more promotions and more money, McCreight said. Despite that argument, he expressed concern that the anti-tax and anti-government rhetoric in recent years may threaten its renewal in November. Natrona County voters have overwhelmingly renewed the tax, by roughly 70 percent in 2006. While PACs have been formed before to promote its renewal, they have not conducted surveys to measure voter interest, McCreight said. That may change this year because of the lack of knowledge he's seen about tourism in the county, he said. McCreight was disappointed by what he heard at the Aug. 11 forum for candidates seeking their parties' nominations for Natrona County Commission, he said. In response to a question, all candidates said tourism was important, McCreight said. But some of them did not know the commission appointed people to the travel and tourism council, that the council oversaw the tax, or even that a lodging tax existed, he said. The three Democrats and the three Republicans who were elected on the Aug. 17 primary were informed, but McCreight said he wasn't doing his job if even one candidate didn't know about the lodging tax, he said. "We need to make sure our county leaders know we exist," McCreight said. Reach Tom Morton at (307) 266-0592, or at tom.morton@trib.com. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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