Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced today that it closed the public offering of 5,000,000 of its 7.75% Series A Cumulative Redeemable Preferred Shares (the “Series A Preferred Shares”), including 600,000 shares sold pursuant to the underwriters' exercise of their over-allotment option. Through the offering, the Trust generated net proceeds of approximately $120.8 million after deducting the underwriting discount and estimated offering expenses payable by the Trust. The Trust intends to use the net proceeds of the offering to repay debt outstanding on its revolving credit facility and for other general corporate purposes, including the acquisition of properties. Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC acted as joint book-running managers for the offering, and Robert W. Baird & Co. Incorporated and Deutsche Bank Securities Inc. acted as co-managers. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. Copies of the prospectus supplement and prospectus for the offering may be obtained by contacting Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attention: Capital Markets Client Support, or by calling (800) 326-5897, or by e-mail at email@example.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, or by calling (212) 834-4533; or RBC Capital Markets, LLC, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th floor, New York, New York 10281-8098, or by calling (866) 375-6829, or by email at firstname.lastname@example.org. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any 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.