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

ANNAPOLIS, Md., May 02, 2011- Chesapeake Lodging Trust (NYSE:CHSP) announced today that it has closed on the previously announced acquisition of the 195-room Homewood Suites Seattle Convention Center located in Seattle, Washington for a purchase price of $53 million, or approximately $272,000 per key. The Company funded the acquisition with proceeds from its recent equity offering. The Company entered into an agreement with Evolution Hospitality (formerly Tarsadia Hotels) to manage the hotel under the Homewood Suites flag.

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 and extended-stay hotels in urban settings or unique locations in the United States. The Company owns six hotel properties with an aggregate of 1,824 rooms in three states. Additional information can be found on the Company's website at

SOURCE: Chesapeake Lodging Trust


Chesapeake Lodging Trust
Douglas W. Vicari


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Also See: 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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