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Chesapeake Lodging Trust Completes 35-room Expansion
of the W Chicago – City Center in Illinois

$5.1 Million (Approximately $146,000 per key) Expansion
Brings the Room Count to 403

ANNAPOLIS, Md.--October 22, 2012 -- Chesapeake Lodging Trust (NYSE: CHSP) (the "Trust") announced today that it has completed its 35 room expansion at the W Chicago – City Center for $5.1 million or approximately $146,000 per key. The Trust purchased the property in May 2011 and, as a result of this project, has expanded the hotel’s room count from 368 to 403 keys.

James L. Francis, the Trust’s President and Chief Executive Officer, stated, “This was a tremendous value-add project that demonstrates our ability to quickly execute our business plan and create incremental value for the portfolio. We successfully converted the hotel’s top two vacant floors into some of the largest and highest value rooms in the property at a cost well below market values.”

Mike Cassidy, Vice President of Operations at Starwood Hotels and Resorts stated, “This was a terrific project and creates numerous new revenue strategy opportunities for the property. The hotel’s brand, product quality, service levels and outstanding location has historically created over 100 sell-out days per year. With the additional inventory, City Center’s opportunities to expand its market share are outstanding.”

The W Chicago – City Center, located at 172 West Adams Street, is a full-service, luxury property with modern guestrooms and suites, more than 12,000 square feet of meeting and function space, a SWEAT fitness center, and the recently renovated and repositioned IPO restaurant. The 22-story building is strategically located in the West Loop, in the center of the financial and business district of Chicago and nearby many of the city’s corporate business and the majority of the city’s Class A office inventory. The hotel is conveniently accessible to the Willis Tower (formerly Sears Tower), the Civic Opera House, the Magnificent Mile, the Millenium Park, and the premier Art Institute of Chicago.


Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 14 hotels with an aggregate of 4,465 rooms in six states and the District of Columbia. Additional information can be found on the Trust’s website at

Chesapeake Lodging Trust
Douglas W. Vicari

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Also See: Chesapeake Lodging Trust Acquires the 429-room Hyatt Regency Mission Bay Spa and Marina in San Diego, California for $62.0 Million / September 2012

Starwood Hotels Completes Sale of W Chicago - Lakeshore to Chesapeake Lodging Trust for $126 Million; Chesapeake to Launch Renovation of the 520 Guestrooms and Public Spaces, Starwood to Continue to Manage Hotel Under the W Flag / August 2012

Chesapeake Lodging Trust Enters Definitive Agreement to Acquire the 185-room Hyatt Place New York Midtown, Currently Under Development, for $76.5 million, or Approximately $414,000 per key / January 2012

Chesapeake Lodging Trust Acquires the 122-room Holiday Inn New York City Midtown – 31st Street in New York, New York for $52.2 Million or $428,000 per key; to be Managed by Real Hospitality Group / December 2011

Chesapeake Hospitality Selected to Manage the Newly Converted Doubletree by Hilton Raleigh Brownstone University Adjacent to North Carolina State University, Owned by MHI Hospitality Corporation / December 2011

Chesapeake Lodging Trust Completes Acquisition of the 613-room Denver Marriott City Center in Denver, Colorado / October 2011

Chesapeake Lodging Trust Enters Agreement to Acquire the 613-room Denver Marriott City Center in Denver, Colorado for $119 million, or Approximately $194,000 Per Key / August 2011

Chesapeake Lodging Trust Acquires the 171-room Hotel Adagio in San Francisco for $42.25 million; Management of Property to Remain with Joie de Vivre Hospitality / July 2011

Chesapeake Lodging Trust Acquires 204-room Courtyard Washington Capitol Hill/Navy Yard in Washington, DC for $68 Million or About $333,000 per Key / July 2011

IHG Sells 210-room Hotel Indigo San Diego to Chesapeake Lodging Trust for $55.5 Million / June 2011

Chesapeake Lodging Trust Acquires Homewood Suites Seattle Convention Center for $53 million, or Approximately $272,000 per key / May 2011

Chesapeake Lodging Trust Announces a Definitive Agreement to Acquire the 195-room Homewood Suites by Hilton Seattle Convention Center for $53 million or Approximately $272,000 per key / November 2010

Chesapeake Lodging Trust Acquires the 153-room Courtyard Anaheim at Disneyland Resort in Anaheim, California for $25.0 million ($163,000 per key) and the 430-room Boston Marriott Newton in Newton, Massachusetts for $77.25 million ($180,000 per key) / August 2010

Chesapeake Lodging Trust Acquires the 498-room Hyatt Regency Boston for $112 million, or Approximately $225,000 per Key; Hyatt Continues as Operator /March 2010
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