PALM BEACH, FLORIDA Chatham Lodging Trust has postponed a planned public offering of 7 million common shares due to unfavorable market conditions.
The hotel REIT, focused on acquiring upscale extended-stay hotels and premium branded select-service hotels, is delaying indefinitely its share offering that was first announced last Friday. Chatham’s share price slipped 5.8% between Friday’s share sale announcement and Wednesday.
Chatham owns 13 hotels with an aggregate of 1,650 guestrooms across nine states.
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