Chesapeake Lodging TrustNYSE
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)
Jan. 31, 2012, 7:50 AM