Posted: 16 Dec 2010 05:49 AM PST

16 December 2010

HEI to Continue Managing Property on Behalf of Purchaser

HEI Hotels & Resorts (HEI), the nation's fastest growing private owner/operator of hotel real estate, today announced the sale of the 360-room Le Meridien San Francisco for an undisclosed amount to Chesapeake Lodging Trust. HEI will continue to operate the hotel on behalf of Chesapeake under the terms of the transaction.

"The sale of this asset from our second Fund, formed in 2004, marks our fourth hotel sale of the year," said Steve Mendell, president -- acquisitions and development. "Le Meridien San Francisco is a highly regarded hotel in one of the nation's leading markets. We foresee no staff changes at Le Meridien San Francisco and look forward to continuing our management of this stellar property. We also are well positioned to continue purchasing hotels in our latest fund."

"HEI prides itself on aligning with top-tier hoteliers and real estate owners," said Anthony Rutledge, HEI's chief financial officer. "This is our first partnership with Chesapeake, and we look forward to expanding our relationship as we move forward. With our operating expertise, we are confident that HEI is the best qualified to maximize this property's full potential in the months and years to come."

Located at 333 Battery Park, Le Meridien San Francisco is situated in the city's financial district, near the Federal Reserve Building and convenient to Chinatown and Fisherman's Wharf. The spacious guest rooms offer sweeping views of the bay and city, 300-count Frette sheets and down duvets, high-speed wireless Internet access, contemporary decor, and high end Nakamichi stereo/CD players. The hotel features: market-fresh cuisine at Park Grill and Bar 333 & Bistro, more than 13,000 square feet of flexible meeting space, fitness center with cardiovascular and strength-training equipment, and is completely smoke-free.

About HEI Hotels & Resorts | HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality firm that acquires, develops, owns and operates full-service, upper upscale and luxury hotels and resorts throughout the United States under such well-known brand names as Marriott, Renaissance, W, Westin, Le Meridien, Sheraton, Embassy Suites, and Hilton. For more information about HEI, visit the company's website, www.heihotels.com.

litigation reform act, hei hotels and resorts, estate investment trust, private securities litigation reform, wells fargo bank, private securities litigation reform act, securities litigation reform act, private securities litigation reform act of 1995, real esta Jerry Daly or Chris Daly
Phone: (703) 435 6293
Fax: (703) 435 6297
Email: jerry@dalygray.com HEI Hotels & Resorts
www.heihotels.com
101 Merritt 7 Corporate Park | 1st Floor
USA - Norwalk, CT 06851
Phone: 203-849-8844
Fax: 203-849-5918
Email: info@heihotels.com

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Chatham Lodging Announces Dividend, Provides Business Update

Posted: 16 Dec 2010 05:58 AM PST

Press Release Source: Chatham Lodging Trust On Thursday December 16, 2010, 8:58 am EST

PALM BEACH, Fla., Dec. 16, 2010 /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 its board of trustees has declared a common share dividend of $0.175 for the 2010 fourth quarter. Based on the company's common share closing price of $17.19 at the close of business on December 15, the annualized dividend represents a yield of approximately 4.1 percent. The common dividend is payable January 14, 2011, to shareholders of record on December 31, 2010.

"Our initial 13 hotels are producing strong unleveraged yields that average approximately 8 percent, so our dividend is well covered by free cash flow from our hotels," said Jeffrey H. Fisher, Chatham's chief executive officer. "We believe we are in the early stages of a lodging cycle recovery and that our unleveraged yields will continue to expand in 2011 as the industry rebound gains traction. The completion of renovations at six of our 13 hotels in 2011 will position us to gain market share and will drive earnings and dividend growth."

Year-end Outlook

Pro forma revenue per available room (RevPAR) at the company's 13 hotels was up approximately 5 percent for the fourth quarter through November had the company owned all the hotels for the entire period. "We are encouraged about the industry's prospects for 2011 and beyond, due to forecasts for continued economic growth and limited new supply on the horizon," Fisher commented. "Our pipeline remains strong and at pricing that is consistent with our expectations."

The company accelerated the renovations that were scheduled to be completed on three of its Homewood Suites hotels, located in Billerica, Mass., Brentwood, Tenn. and Farmington, Conn. "Given the strong forward outlook for the industry, we expedited those renovations where it made sense to accelerate displacement," remarked Dennis Craven, Chatham's chief financial officer. "While this will have a slight impact on RevPAR in the 2010 fourth quarter, we expect it to translate into even better performance in 2011."

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 13 hotels with an aggregate of 1,650 rooms/suites in nine states. 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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Sheraton in Expansion Mode

Posted: 16 Dec 2010 06:15 AM PST

Zacks Equity Research, On Thursday December 16, 2010, 9:15 am EST

Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT - News) recently announced the inauguration of The Sheraton Miami Airport Hotel & Executive Meeting Center in Florida. Formerly, the hotel was under the Wyndham brand owned by Thayer Lodging Group and was upgraded extensively before being unveiled as a Sheraton brand. The hotel features 20,000 square feet of meeting space including 20 conference rooms, a 4,000-square foot ballroom and 405 guest rooms along with other amenities.

The project marks a milestone in the hotelier's brand expansion policy in key markets across the U.S. not only through new-builds, but also through conversion opportunities. The project will add approximately 50 new hotels and more than 20,000 rooms to the Sheraton portfolio over the next three years.

Sheraton is spearheading Starwood's market share growth. Recently, Sheraton completed a $6 billion brand-wide revitalization program, including $400 million in signature brand initiatives. Apart from the domestic market, the Sheraton brand is all set to binge on the Chinese market, which promises huge long-term growth in global tourism. Sheraton is now investing another $5 billion to add approximately 35 new hotels by the end of 2013, half of which will open in China.

The company is slated to open three more hotels in China before the end of January, including its third in Shanghai and debutant hotels in Wenzhou and Jiangyin. With the addition of these three new hotels, Sheraton will operate 35 hotels in Greater China, with another 29 in the pipeline.

Sheraton's emergence in China dates back to 1985 with the landmark debut of Great Wall Sheraton Hotel in Beijing. Leveraging its first-mover advantage, Sheraton has become one of China's most sought after global brands. The company is now targeting various Chinese cities, which are under-penetrated but densely populated. One such city is Shantow. The company recently sealed a deal to build a Sheraton hotel there.

Starwood's closest competitor Marriott International Inc. (NYSE: MAR - News) also has an eye on China and seeks to double its portfolio in that country.

STARWOOD HOTELS&RESORTS WRLD (HOT): Read the Full Research Report

MARRIOTT INTL INC NEW (MAR): Read the Full Research Report

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