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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 Second Quarter 2021 Results Operating Trends Advance , Set to Acquire Two Premium - Branded , Extended - Stay Hotels WEST PALM BEACH , Fla . , August 3 , 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Operating Results • • • • • • Portfolio Revenue Per Available Room ( RevPAR ) - Increased 170 percent to $ 87 , compared to the 2020 second quarter . Average daily rate ( ADR ) rose 32 percent to $ 127 , and occupancy jumped 105 percent to 68 percent for the 39 comparable hotels owned as of June 30 , 2021. All Chatham hotels remained open throughout the pandemic . Net loss- Lessened $ 18.5 million to a net loss of $ 8.7 million from a net loss of $ 27.2 million in the 2020 second quarter . Net loss per diluted share was $ ( 0.18 ) versus net loss per diluted share of $ ( 0.57 ) for the same period last year . GOP Margin - Generated GOP margins of 43 percent compared to 30 percent in the 2021 first quarter , 25 percent in the 2020 fourth quarter and 19 percent in the 2020 second quarter . Adjusted EBITDA – Produced positive Adjusted EBITDA for the fourth consecutive quarter , generating Adjusted EBITDA of $ 12.5 million in the 2021 second quarter , compared to $ 1.2 million in the 2021 first quarter , $ 0.2 million in the 2020 fourth quarter and an Adjusted EBITDA loss of $ 3.3 million in the 2020 second quarter . Adjusted FFO – Jumped $ 17.3 million to $ 4.9 million compared to the 2020 second quarter , the first quarter since the beginning of the pandemic to generate positive Adjusted FFO . Adjusted FFO per diluted share was $ 0.10 , compared to an FFO loss of $ ( 0.26 ) in the 2020 second quarter . Cash Flow / Burn Before Capital Expenditures - Generated second quarter 2021 cash flow before capital expenditures of $ 4.0 million , an improvement of $ 11.6 million from first quarter cash burn of $ 7.6 million . This also compares to cash burn of $ 9.5 million in the 2020 fourth quarter , burn of $ 5.1 million in the 2020 third quarter and burn of $ 12.8 million in the 2020 second quarter . Cash flow / burn includes $ 2.2 million of principal amortization per quarter . Taps Capital Markets for First Preferred Issuance , Under Contract to Acquire Two Hotels - Raised net proceeds of approximately $ 116 million through the issuance of 6.625 % Series A Preferred Shares . Chatham will use a portion of the proceeds to acquire two high - quality , premium - branded , extended - stay hotels in Austin , Texas for $ 71 million . “ During the pandemic , we actively managed our way through the worst era in the history of the hotel industry , had significantly less cash burn than most of our peers and took a number of steps to improve our liquidity profile and solidify our financial position . Our cash burn before capital of $ 35 million from April 2020 through March 2021 is expected to be more than fully replenished with approximately $ 25 million of proceeds from the issuance of common shares during 2021 together with the $ 4 million of cash flow before CAPEX generated in the 2021 second quarter and expected cash flow before CAPEX in the 2021 third quarter , ” highlighted Jeffrey H. Fisher , Chatham's president and chief executive officer . “ The $ 70 million of proceeds from the sales of the Residence Inn Mission Valley and our stake in the INK JV will