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For Immediate Release Contact : Dennis Craven ( Company ) Chief Operating Officer ( 561 ) 227-1386 Exhibit 99.1 Chris Daly ( Media ) DG Public Relations ( 703 ) 864-5553 Chatham Lodging Trust Announces First Quarter 2021 Results Cash Burn Erased with April RevPAR WEST PALM BEACH , Fla . , May 4 , 2021 — Chatham Lodging Trust ( NYSE : CLDT ) , a lodging real estate investment trust ( REIT ) that invests in upscale , extended - stay hotels and premium - branded , select - service hotels , today announced results for the first quarter ended March 31 , 2021 . First Quarter 2021 Operating Results • • • • . Portfolio Revenue Per Available Room ( RevPAR ) - Declined 42 percent to $ 55 , compared to the 2020 first quarter . Average daily rate ( ADR ) decreased 31 percent to $ 107 , and occupancy dropped 17 percent to 52 percent for the 39 comparable hotels owned as of March 31 , 2021. All Chatham hotels have remained open throughout the pandemic . o April RevPAR was $ 75 on occupancy of 65 percent and ADR of $ 117 Net Income - Improved $ 30.8 million to net income of $ 2.7 million from a net loss of $ 28.1 million in the 2020 first quarter . Net income per diluted share was $ 0.06 versus net loss per diluted share of $ ( 0.59 ) for the same period last year . During the 2021 first quarter , Chatham recognized a gain of $ 23.8 million related to the sale of the Innkeepers joint venture . GOP Margin - Generated positive GOP margins of 30 percent compared to 25 percent in the 2020 fourth quarter and 38 percent in the 2020 first quarter . Adjusted EBITDA – Produced positive Adjusted EBITDA for the third consecutive quarter , generating Adjusted EBITDA of $ 1.2 million versus $ 0.2 million in the 2020 fourth quarter and $ 16.5 million in the 2020 first quarter . Adjusted FFO – Declined $ 13.4 million to $ ( 7.1 ) million . Adjusted FFO per diluted share was $ ( 0.15 ) , compared to $ 0.13 in the 2020 first quarter . Cash Burn Before Capital Expenditures – First quarter 2021 cash burn was $ 7.6 million versus $ 9.5 million in the 2020 fourth quarter , $ 5.1 million in the 2020 third quarter and $ 12.8 million in the 2020 second quarter . Cash burn includes $ 2.3 million of principal amortization per quarter . Cash Flow Positive - Produced positive cash flow after interest expense and corporate overhead in March for the first time since the beginning of the pandemic . In April , Chatham is expected to produce positive cash flow after all debt service and overhead , reaching that mark the second fastest of all lodging REITs .