Close

Cart

Total $0.00

Checkout
October 1, 2014 - ANNAPOLIS, Md. - Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced today that it has closed on the previously announced sale of the Courtyard Anaheim at Disneyland Resort for a sale price of $32.5 million, or $212,000 per key. 

“We are thrilled to have closed on the sale of this non-strategic asset,” commented James L. Francis, President and Chief Executive Officer of the Trust. “We purchased the Courtyard Anaheim in 2010 as a part of our acquisition of the Hilton Checkers in downtown Los Angeles. While the Courtyard Anaheim has been a very solid performer for the Trust, its non-core CBD location was not consistent with the high-quality portfolio that we have built over the past four years.” 

The Courtyard Anaheim at Disneyland Resort was one of the Trust’s earliest investments, purchased in July 2010 for $25.0 million, or $163,000 per key. The $32.5 million sale price represents a 7.1% trailing twelve month NOI cap rate and produces a 13.3% unleveraged internal rate of return for the Trust over its ownership period. 

About Chesapeake Lodging Trust

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 19 hotels with an aggregate of 5,779 rooms in eight states and the District of Columbia. Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com

Contact: Douglas W. Vicari

410-972-4142

Related News

Chesapeake Lodging Trust Sells 200-Room Hyatt Centric Santa Barbara for $90 Million ($450K Per Key)

Chesapeake Lodging Trust Enters Agreement to Sell Hyatt Centric Santa Barbara for $90.0 Million, or Approximately $450,000 Per Key

Chesapeake Lodging Trust Opens Hilton Denver City Center Following $27 Million Multi-Phased Renovation and Rebranding

Chesapeake Lodging Trust Sells The 222-Room Hotel Minneapolis, Autograph Collection for $46 Million

Chesapeake Lodging Trust Announces Agreement to Sell The Hotel Minneapolis, Autograph Collection for $46.0 Million, or Approximately $207,000 Per Key

Chesapeake Lodging Trust Enters Agreement for Rebranding of its Marriott Denver Hotel to Hilton Denver City Center

Boston Marriott Newton Completes Extensive Multi-Million Dollar Renovation

Q2 2017 Financial Reports Round Up - Part 3: Choice, Chesapeake, Chatham, Sunstone & ESA

Chesapeake Lodging Trust Reports Q1 2017 Net Income of $5.6 Million Compared to $7.6 Million in the Year Ago Quarter

Chesapeake Lodging Trust Reports Decrease in Q4 Net Income and RevPAR Growth

Chesapeake Lodging Trust Reports Q3 2016 Net Income of $23.5 million, a Slight Decrease Over 2015; RevPAR Down 0.7% Over the Same Year Ago Period

Chesapeake Lodging Trust Reports Second Quarter 2016 Net Income of $26.1 million, compared to $21.6 million in the Year-Ago Quarter

Chesapeake Lodging Trust Reports First Quarter Net Income of $7.6 million Compared to a net Loss of $0.9 million in Same Quarter 2015

Chesapeake Lodging Trust Reports Q4 2015 Net Income of $12.3 million Compared to $6.4 million in Q4 2014; RevPAR Increased 3.8%

Q3 2015 Financial Reports Round Up: Hyatt, Chesapeake, Ryman & Summit

Hyatt Regency Boston Debuts New $13 million Guestroom Renovation

Chesapeake Lodging Trust Acquires the Ace Hotel and Theater Downtown Los Angeles for $103 Million

Chesapeake Lodging Trust Promotes D. Rick Adams to Chief Operating Officer

Hyatt Herald Square New York Hosts Event With City Dignitaries And Community Members

Hyatt Hotels and Chesapeake Lodging Trust Open the 122-room Hyatt Herald Square New York

All News »

Please login or register to post a comment.