Chatham Lodging Trust Acquires Six Hotels, Increases Dividend 11%

Chatham Lodging Trust has acquired six Hilton-branded hotels comprising 589 rooms for $92 million. The company also increased its quarterly common dividend by 11% to $0.10 per share. The acquisition is accretive and will provide further growth in free cash flow, according to CEO Jeffrey H. Fisher. The hotels are high-quality properties with an average age of 10 years, and 66% of the rooms are extended-stay, which is Chatham's preferred segment.