Chatham Lodging Trust (reit) · NYSE:CLDT
Chatham Lodging Trust (reit) — Investor Presentation (June 2020)
16 slides from Chatham Lodging Trust (reit)'s investor presentation, Jun 1, 2020
Slide 1: Investor Presentation June 2020
Exhibit 99.1 Investor Presentation June 2020
Slide 2: Safe Harbor Disclosure
Safe Harbor Disclosure We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, cash flow
Slide 3: Business Highlights
Business Highlights . Operating performance beginning to show signs of improvement . Relationship with Island Hospitality drives superior sales and cost control . Highest margins of any lodging REIT Profit / cash flow at lower revenue levels than peers . Largest portfolio concentration of extended
Slide 4: Chatham Operating Statistics
Chatham Operating Statistics Chatham’s daily room revenue over the last week has been ~$220k and occupancy is currently ~39% . Small but steady improvements in performance since the end of March Daily Room Revenue ($) Daily Occupancy % 1,000,000 90% 900,000 80% 800,000 70% 700,000 60% 600,000 50% 50
Slide 5: STR Industry Performance – April 2020
STR Industry Performance – April 2020 Limited service hotels are outperforming in the current market environment US Lodging Industry RevPAR by Chain Scale (April 2020) Chatham Focus 0.0% -20.0% -40.0% -33.7% -60.0% -54.9% -71.0% -80.0% -78.1% -92.4% -100.0% -96.6% Luxury Upper Upscale Upscale Upper
Slide 6: Chatham RevPAR Index Outperformance
Chatham RevPAR Index Outperformance Chatham’s RevPAR index has increased dramatically in the current challenging market environment . Index outperformance reflects both ability of Island Hospitality sales team to successfully identify and book unique sources of demand and the appeal of extended stay
Slide 7: Superior Margins
Superior Margins Chatham’s superior EBITDA margins and ability to control costs provide it with a significant advantage in the current environment . Chatham will achieve profit / cash flow breakeven at lower revenue levels than peers Hotel EBITDA Margin (Year Ended 12/31/19) 45.0% 40.0% 38.3% 37.6%
Slide 8: High Quality Hotels in High Quality Markets
High Quality Hotels in High Quality Markets Chatham’s superior portfolio is reflected by its top brands and attractive markets . 65% of Chatham’s EBITDA is generated by extended stay hotels which are significantly outperforming in the current market environment Chatham Brands (% of LTM Hotel EBITDA)
Slide 9: Most Extended Stay Rooms of All Lodging REITs
Most Extended Stay Rooms of All Lodging REITs Chatham’s portfolio has a significantly larger concentration of extended stay rooms than other lodging REITs . Extended stay room product is very attractive to current sources of lodging demand Extended Stay Rooms as % of Total 70.0% 59.4% 60.0% 50.0% 40
Slide 10: Q1 RevPAR Performance
Q1 RevPAR Performance Chatham’s extended stay room product and Island Hospitality’s proactive sales efforts have helped Chatham in the current challenging operating environment Q1 2020 RevPAR % Change 0.0% -5.0% -10.0% -15.0% -14.8% -20.0% -19.2% -20.6% -20.7% -21.8% -22.4% -22.6% -22.8% -22.9% -25.
Slide 11: Q1 EBITDA Margin Performance
Q1 EBITDA Margin Performance Chatham was able to quickly cut costs to mitigate margin losses Q1 2020 EBITDA Margin % Point Change 0.0% -2.0% -4.0% -6.0% -8.0% -7.8% -7.8% -8.0% -8.4% -10.0% -9.2% -9.6% -10.5% -10.9% -12.0% -11.4% -12.8% -12.8% -14.0% -13.5% -14.0% -14.4% -16.0% -16.7% -18.0% BHR AHT
Slide 12: Solid Liquidity Position and Limited Cash Burn
Solid Liquidity Position and Limited Cash Burn Chatham had $135 million of liquidity at 3/31/20 which would cover cash needs for 20+ months even if performance does not increase from April levels . Chatham has six unencumbered hotels with a book value of $276 million that could serve as collateral t
Slide 13: Chatham Debt Maturity Profile
Chatham Debt Maturity Profile Chatham has limited near term debt maturities and a significant amount of time for operations to recover before debt needs to be refinanced Chatham Debt Maturity Profile $500,000 $400,000 $77,000 $300,000 $173,000 $200,000 $317,858 $100,000 $146,243 $12,825 $17,637 $- 2
Slide 14: High Quality Hotels in Attractive Markets
High Quality Hotels in Attractive Markets 14
Slide 15: High Quality Hotels in Attractive Markets
High Quality Hotels in Attractive Markets 15
Slide 16: Recently Renovated Rooms
Recently Renovated Rooms 16
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