Chesapeake Lodging Trust

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  • Thu, Jan. 28, 11:08 AM
    • Details aren't known, but the WSJ's sources think a deal could value Chesapeake (CHSP +4.8%) at close to $2B vs. the current $1.4B market cap.
    • The company owns 22 higher-end hotels with more than 6.5K rooms, and it would be the latest in a recent line of hotel companies going on the block or already sold.
    • After a big run higher, the industry has struggled of late thanks to sluggish economic growth, new room supply, and a strong U.S. dollar crimping foreign visits and spending. CHSP is lower by nearly 40% over the past year.
    • Previously: WSJ: Chesapeake Lodging Trust going on the block (Jan. 28)
    | Thu, Jan. 28, 11:08 AM
  • Jan. 31, 2012, 7:50 AM

    Chesapeake Lodging (CHSP) announces that it purchased the Hyatt Place New York Midtown South in NYC for $76.5M. The purchase price works out to $414K per hotel key.

    | Jan. 31, 2012, 7:50 AM
Company Description
Chesapeake Lodging Trust is a self-advised real estate investment trust. The Company invests in upper-upscale hotels in business and convention markets and select-service hotels in urban settings in USA.
Sector: Financial
Country: United States