Chatham Lodging Trust Prices Public Offering of Common Shares

Chatham Lodging Trust announced that it has priced its public offering of 3,500,000 common shares of beneficial interest, $0.01 par value per share, at $14.70 per share, for total gross proceeds of $51.45 million, prior to underwriting discounts and offering expenses. The offering is expected to close on January 14, 2013. The underwriters have a 30-day option to purchase up to an additional 525,000 shares to cover overallotments, if any. The Company will contribute the net proceeds of this offering to its operating partnership in exchange for common units of limited partnership interest in the operating partnership. The Company's operating partnership intends to use a portion of the net proceeds of the offering to repay debt under the Company's senior secured revolving credit facility, including debt incurred in connection with the Company's recent acquisition of the Hampton Inn Portland Downtown – Waterfront in Portland, Maine. The Company's operating partnership intends to use any remaining net proceeds to invest in additional hotel properties in accordance with the Company's investment strategy and for general corporate purposes. Barclays and UBS Investment Bank are acting as joint book-running managers for the offering, and Stifel Nicolaus Weisel and FBR Capital Markets are acting as senior co-managers. Credit Agricole CIB, Piper Jaffray, Regions Securities LLC and JMP Securities are acting as co-managers.