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Chatham Lodging Trust Prices Public Offering Of Common Shares

Chatham Lodging Trust (the “Company”) (NYSE: CLDT) today announced that it has priced its public offering of 3,500,000 common shares of beneficial interest, $0.01 par value per share, at $14.70 per share, for total gross proceeds of $51.45 million, prior to underwriting discounts and offering expenses.

The offering is expected to close on January 14, 2013. The underwriters have a 30-day option to purchase up to an additional 525,000 shares to cover overallotments, if any.

The Company will contribute the net proceeds of this 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 a portion of the net proceeds of the offering to repay debt under the Company’s senior secured revolving credit facility, including debt incurred in connection with the Company’s recent acquisition of the Hampton Inn Portland Downtown – Waterfront in Portland, Maine. The Company’s operating partnership intends to use any remaining net proceeds to invest in additional hotel properties in accordance with the Company’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 Nicolaus Weisel and FBR Capital Markets are acting as senior co-managers. Credit Agricole CIB, Piper Jaffray, Regions Securities LLC and JMP Securities are acting as co-managers. A copy of the prospectus supplement and related 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, 299 Park Avenue, 28th Floor, New York, NY 10171, 877-827-6444.

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 19 hotels with an aggregate of 2,536 rooms/suites in eleven states and the District of Columbia.

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