- Pro Forma RevPAR – 8.9% increase for comparable 10-hotel portfolio over the same period in 2011.
- Pro Forma Adjusted Hotel EBITDA Margin – 200 basis point increase for comparable 10-hotel portfolio over the same period in 2011.
- Acquisitions – Acquired the 520-room W Chicago – Lakeshore in Chicago, Illinois for $126.0 million and the 429-room Hyatt Regency Mission Bay Spa and Marina in San Diego, California for $62.0 million; Subsequent to quarter end, acquired the 222-room The Hotel Minneapolis in Minneapolis, Minnesota for $46.0 million.
- Renovations – Successfully completed the comprehensive renovation and repositioning of the Hotel Adagio; Subsequent to quarter end, completed the 35-room expansion at the W Chicago – City Center.
- Equity offerings – Successfully completed a $125 million preferred share offering and $138 million common share offering.
- Financings – Closed on $130 million of secured financings; Subsequent to quarter end, amended our revolving credit facility, increasing facility size, reducing cost of borrowings, and extending the initial term.
Chesapeake Lodging Trust Reports Third Quarter Results; Pro Forma RevPAR Increased 8.9% And Pro Forma Adjusted Hotel EBITDA Margin Increased 200 Basis Points
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