Page 1

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 Strong Third Quarter 2021 Results Strong Performance Continues , Acquired Hotels Outperforming , Portfolio Set for Growth WEST PALM BEACH , Fla . , November 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 third quarter ended September 30 , 2021 . Third Quarter 2021 Operating Results • • • • • • Portfolio Revenue Per Available Room ( RevPAR ) - Increased 92 percent to $ 107 compared to the 2020 third quarter . Average daily rate ( ADR ) accelerated 39 percent to $ 150 , and occupancy jumped 38 percent to 71 percent for the 40 comparable hotels owned as of September 30 , 2021 ( excludes one Austin hotel acquired in August 2021 that opened in June 2021 ) . Net loss - Lessened $ 16.9 million to a net loss of $ 1.4 million from a net loss of $ 18.3 million in the 2020 third quarter . Net loss per diluted common share was $ ( 0.07 ) versus net loss per diluted common share of $ ( 0.38 ) for the same period last year . GOP Margin – Grew margins a significant 25 percent to a portfolio - wide GOP margin of 45 percent in the 2021 third quarter compared to 36 percent in the 2020 third quarter . Adjusted EBITDA - Nearly quadrupled Adjusted EBITDA , finishing the quarter at $ 19.6 million compared to Adjusted EBITDA of $ 5.1 million in the 2020 third quarter . Adjusted FFO – Jumped $ 14.7 million to $ 10.5 million in the 2021 third quarter , compared to a loss of $ 4.2 million in the 2020 third quarter . Adjusted FFO per diluted share was $ 0.21 , compared to an FFO loss of $ ( 0.09 ) in the 2020 third quarter . - Cash Flow / Burn Before Capital Expenditures – Generated third quarter 2021 cash flow before capital expenditures of $ 10.0 million , up 150 percent over 2021 second quarter flow of $ 4.0 million and compared to cash burn of $ 7.6 million in the 2021 first quarter . Cash flow / burn includes $ 2.2 million of principal amortization per quarter . Enhanced Portfolio with Acquisition of Two High - Quality Extended - Stay Hotels in Austin , Texas at the Domain - Acquired in August the Residence Inn and TownePlace Suites ( TPS ) hotels for $ 71 million . The TPS opened in June 2021. September ADR , Occupancy and RevPAR for the two hotels was $ 122 , 81 percent and $ 98 . Amends and Extends Revolving Credit Facility - Amended successfully and extended its credit facility subsequent to the end of the quarter , extending the maturity date to March 2024 including extension options and waived key financial covenants through June 30 , 2022 . Jeffrey H. Fisher , Chatham's president and chief executive officer , highlighted , “ Our best - in - class portfolio continued its strong top- and bottom - line performance during the third quarter , generating cash flow before CAPEX of $ 10 million , up 150 percent over the second quarter and making us cash flow positive before CAPEX year - to - date . We will finish the year positive , a huge milestone for us and our investors . Chatham was the second fastest hotel REIT to become cash flow positive at the corporate level , a testament to the quality of our portfolio and strength of our operations team who is driving strong operating margins comparable to 2019 levels on much lower RevPAR levels . As a result , we have minimized dilution and have been able to emerge from the pandemic healthier than most of our peers . Additionally , with the recent completion of our $ 120 million preferred offering in late June , we used a