Chatham Lodging Trust has reported a continued improvement in operating performance, with fiscal year 2024 RevPAR up 2.8% compared to industry growth of 1.8%, and Q1 2025 RevPAR up 3.8% against the industry growth of 2.2%. The company's RevPAR growth has exceeded industry averages for three consecutive years, with tech-driven hotels showing notable increases. The recovery of properties in tech-focused markets like Silicon Valley and Bellevue is anticipated to significantly boost EBITDA and FFO. Additionally, Chatham has engaged in capital recycling, selling six hotels for $101 million and acquiring a newly built Home2 Phoenix property. The company has also reduced debt and strengthened its balance sheet, positioning itself for future growth amid limited supply growth in its sub-markets. Air travel surpassing 2019 levels indicates potential for further improvement in business travel. You can access the full presentation through the link below.