Chesapeake Lodging Trust (NYSE: CHSP) (the “Trust”) announced today that it has completed its public offering of 7,475,000 common shares, including 975,000 shares sold pursuant to the underwriters’ option to purchase additional shares. Through the offering, the Trust raised approximately $132.5 million of net proceeds, after deducting the underwriting discount and other estimated offering expenses payable by the Trust. Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC acted as the joint book-running managers for the offering. Robert W. Baird & Co. Incorporated, KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, and JMP Securities LLC acted as co-managers for the offering. The Trust intends to use the net proceeds of the offering to repay outstanding borrowings under its revolving credit facility and for general corporate purposes, including the acquisition of hotels. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Trust's common shares, nor shall there be any sale of the common shares in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Copies of the prospectus supplement and the related prospectus for the offering may be obtained from Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611, or by emailing email@example.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897, or by e-mail at firstname.lastname@example.org. ABOUT CHESAPEAKE LODGING TRUST Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 14 hotels with an aggregate of 4,465 rooms in six states and the District of Columbia. Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com. Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such forward-looking statements include, but are not limited to, the contemplated use of proceeds. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Chesapeake Lodging Trust's control. The Trust undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances, except as required by law.