Chatham Lodging Trust Announces Sale Of Hilton Garden Inn Denver Tech Center For Approximately $18M
Portfolio Pulse from Benzinga Newsdesk
Chatham Lodging Trust (CLDT), a hotel REIT, has sold the Hilton Garden Inn Denver Tech Center for approximately $18 million. The planned $6 million renovation for 2023 was not completed due to the sale. Proceeds will be used for corporate investments and debt repayment.
January 10, 2024 | 2:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Chatham Lodging Trust has successfully divested the Hilton Garden Inn Denver Tech Center for $18 million, which will strengthen its balance sheet by providing funds for corporate investments and debt reduction.
The sale of the asset is a positive development for CLDT as it provides liquidity and the opportunity to reduce debt or reinvest in other corporate activities. This could be viewed favorably by investors in the short term, potentially leading to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100