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

ANNAPOLIS, Md., Jun 30, 2011 --Chesapeake Lodging Trust (NYSE: CHSP) announced today that it has closed on the previously announced acquisition of the 204-room Courtyard Washington Capitol Hill/Navy Yard located in Washington, DC for a purchase price of $68 million, or approximately $333,000 per key. The Company funded the acquisition by assuming $37.5 million of existing mortgage debt and by borrowing under its revolving credit facility. The existing mortgage debt has a fixed interest rate of 5.9% per annum and matures in November 2016. The Company entered into an agreement with Crestline Hotels & Resorts, Inc. to manage the hotel.

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 nine hotel properties with an aggregate of 2,606 rooms in four states and the District of Columbia. Additional information can be found on the Company's website at

Chesapeake Lodging Trust
Douglas W. Vicari


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Also See: 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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