$CLDT
Chatham Lodging Trust

2011 Q4 Form 10-K Financial Statement

#000119312513108043 Filed on March 15, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $22.13M $23.58M $14.90M
YoY Change 78.03% 181.36% 219.79%
Cost Of Revenue $13.09M $12.84M $8.340M
YoY Change 76.18% 160.45% 212.36%
Gross Profit $9.040M $10.74M $6.570M
YoY Change 80.8% 210.4% 230.15%
Gross Profit Margin 40.85% 45.55% 44.09%
Selling, General & Admin $3.120M $3.050M $2.650M
YoY Change 48.57% 65.76% 117.21%
% of Gross Profit 34.51% 28.4% 40.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.310M $3.380M $3.790M
YoY Change 143.38% 333.33% 847.5%
% of Gross Profit 36.62% 31.47% 57.69%
Operating Expenses $23.65M $21.39M $16.19M
YoY Change 581.56% 713.31% 905.59%
Operating Profit -$1.521M $2.188M -$1.288M
YoY Change -199.41% 163.61% -438.95%
Interest Expense -$4.680M -$3.080M -$640.0K
YoY Change 463.86% -6260.0% -1700.0%
% of Operating Profit -140.77%
Other Income/Expense, Net
YoY Change
Pretax Income -$6.200M -$890.0K -$1.920M
YoY Change 1837.5% 206.9% 220.0%
Income Tax -$10.00K $60.00K $10.00K
% Of Pretax Income
Net Earnings -$6.200M -$960.0K -$1.940M
YoY Change 2037.93% 231.03% 203.13%
Net Earnings / Revenue -28.02% -4.07% -13.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$450.3K -$69.72K -$141.0K
COMMON SHARES
Basic Shares Outstanding 13.77M shares 13.77M shares 13.76M shares
Diluted Shares Outstanding 13.77M shares 13.77M shares 13.76M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.700M $8.200M $15.00M
YoY Change -2.08% -69.4% -84.8%
Cash & Equivalents $4.680M $8.200M $15.00M
Short-Term Investments
Other Short-Term Assets $1.500M $2.200M $1.800M
YoY Change 114.29% 266.67% 800.0%
Inventory
Prepaid Expenses
Receivables $2.100M $2.100M $1.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.300M $12.50M $18.20M
YoY Change 29.69% -55.83% -81.73%
LONG-TERM ASSETS
Property, Plant & Equipment $402.8M $402.6M $210.5M
YoY Change 93.56% 161.43% 187.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $41.30M $7.800M $15.60M
YoY Change 1276.67% 36.84% 524.0%
Other Assets $6.400M $6.800M $4.500M
YoY Change 36.17% 580.0% 650.0%
Total Long-Term Assets $450.4M $417.3M $230.6M
YoY Change 108.71% 159.51% 202.62%
TOTAL ASSETS
Total Short-Term Assets $8.300M $12.50M $18.20M
Total Long-Term Assets $450.4M $417.3M $230.6M
Total Assets $458.7M $429.8M $248.8M
YoY Change 106.44% 127.29% 41.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.20M $8.900M $5.600M
YoY Change 96.15% 196.67% 166.67%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.70M $11.40M $8.100M
YoY Change 84.06% 15.15% 9.46%
LONG-TERM LIABILITIES
Long-Term Debt $228.9M $192.9M $12.20M
YoY Change 356.89% 1455.65%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $228.9M $192.9M $12.20M
YoY Change 356.89% 1455.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.70M $11.40M $8.100M
Total Long-Term Liabilities $228.9M $192.9M $12.20M
Total Liabilities $241.6M $205.2M $21.00M
YoY Change 320.15% 807.96% 180.0%
SHAREHOLDERS EQUITY
Retained Earnings -$23.22M
YoY Change
Common Stock $239.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $216.1M $224.6M $227.8M
YoY Change
Total Liabilities & Shareholders Equity $458.7M $429.8M $248.8M
YoY Change 106.44% 127.29% 41.52%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$6.200M -$960.0K -$1.940M
YoY Change 2037.93% 231.03% 203.13%
Depreciation, Depletion And Amortization $3.310M $3.380M $3.790M
YoY Change 143.38% 333.33% 847.5%
Cash From Operating Activities $590.0K $4.730M $2.730M
YoY Change -83.38% 346.23% 313.64%
INVESTING ACTIVITIES
Capital Expenditures -$3.080M -$64.06M -$3.320M
YoY Change -94.46% -11.04% -95.48%
Acquisitions
YoY Change
Other Investing Activities -$34.46M $9.260M -$12.23M
YoY Change -1390.64% -1783.64% 389.2%
Cash From Investing Activities -$37.54M -$54.80M -$15.55M
YoY Change -29.06% -24.48% -79.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 33.49M 43.25M -3.120M
YoY Change 22.72% -12457.14% -101.79%
NET CHANGE
Cash From Operating Activities 590.0K 4.730M 2.730M
Cash From Investing Activities -37.54M -54.80M -15.55M
Cash From Financing Activities 33.49M 43.25M -3.120M
Net Change In Cash -3.460M -6.820M -15.94M
YoY Change -84.33% -90.51% -116.15%
FREE CASH FLOW
Cash From Operating Activities $590.0K $4.730M $2.730M
Capital Expenditures -$3.080M -$64.06M -$3.320M
Free Cash Flow $3.670M $68.79M $6.050M
YoY Change -93.8% -5.86% -91.85%

Facts In Submission

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CY2010 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2010 us-gaap Occupancy Costs
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CY2010 us-gaap Increase Decrease In Accounts And Notes Receivable
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CY2010 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
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CY2010 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2010 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2010 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
13000
CY2010 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
25470000
CY2010 us-gaap Occupancy Revenue
OccupancyRevenue
24743000
CY2010 us-gaap Depreciation Depletion And Amortization
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2564000
CY2010 us-gaap Direct Costs Of Hotels
DirectCostsOfHotels
15025000
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2010 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2010 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2010 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
376000
CY2010 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2010 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2010 us-gaap Stock Repurchased During Period Value
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CY2010 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2010 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0714 pure
CY2010 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3189000
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5274000
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2010 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
193000
CY2010 us-gaap Income Taxes Paid
IncomeTaxesPaid
27000
CY2010 us-gaap Dividends Common Stock
DividendsCommonStock
3224000
CY2010 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
280000
CY2010 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
168748000
CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4744000
CY2010 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3547000
CY2010 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
101000
CY2010 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1657000
CY2010 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
200967000
CY2010 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
3610000
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6377333 shares
CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1200000
CY2010 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
17000
CY2010 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2010 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2010 us-gaap Operating Expenses
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25931000
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
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6377333 shares
CY2010 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4000
CY2010 us-gaap Real Estate Accumulated Depreciation Period Increase Decrease
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1901000
CY2010 us-gaap Payments Of Stock Issuance Costs
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13752000
CY2010 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
90000
CY2010 us-gaap Depreciation
Depreciation
2537000
CY2010 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1218000
CY2011 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
5321000
CY2011 us-gaap Other Direct Costs Of Hotels
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26156000
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
7000
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
129000
CY2011 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1543000
CY2010 us-gaap Interest Expense
InterestExpense
932000
CY2010 cldt Income Loss Before Income Tax
IncomeLossBeforeIncomeTax
-238000
CY2010 cldt Amortization Of Deferred Franchise Fees
AmortizationOfDeferredFranchiseFees
27000
CY2010 cldt Distributions On Long Term Investment Plan
DistributionsOnLongTermInvestmentPlan
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CY2010 us-gaap Interest Paid
InterestPaid
527000
CY2010 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
13752000
CY2010 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2010 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
37800000
CY2010 us-gaap Real Estate Other Additions
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7000
CY2010 us-gaap Net Income Loss
NetIncomeLoss
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CY2010 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17000
CY2010 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2010 cldt Mortgages Assumed On Purchases Of Hotels
MortgagesAssumedOnPurchasesOfHotels
12434000
CY2010 cldt Prepaid Expenses And Other Assets
PrepaidExpensesAndOtherAssets
76000
CY2011 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
37000000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
73600000
CY2011 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
61981000
CY2011 us-gaap Occupancy Costs
OccupancyCosts
16011000
CY2011 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
1022000
CY2011 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
2675000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1271000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
94000
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
48000
CY2011 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
73096000
CY2011 us-gaap Occupancy Revenue
OccupancyRevenue
70421000
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11971000
CY2011 us-gaap Direct Costs Of Hotels
DirectCostsOfHotels
42167000
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
1571000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.69
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3688000
CY2011 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
821000
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-21000
CY2011 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.700
CY2011 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15000
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
73000
CY2011 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
15000
CY2011 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
shares
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.4825 pure
CY2011 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
7706000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8946000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-112523000
CY2011 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
22000
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
162000
CY2011 us-gaap Dividends Common Stock
DividendsCommonStock
9674000
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-4000
CY2011 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
97800000
CY2011 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1575000
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
69447000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-88000
CY2011 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5802000
CY2011 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15800000
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
853000
CY2011 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9047000
CY2011 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
185995000
CY2011 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
12721000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13280149 shares
CY2011 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1300000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-9036000
CY2011 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
69000
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.69
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
103489000
CY2011 us-gaap Operating Expenses
OperatingExpenses
72967000
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13280149 shares
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
21000
CY2011 us-gaap Real Estate Accumulated Depreciation Period Increase Decrease
RealEstateAccumulatedDepreciationPeriodIncreaseDecrease
6493000
CY2011 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4153000
CY2011 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
180000
CY2011 us-gaap Depreciation
Depreciation
11908000
CY2011 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
96000
CY2011 us-gaap Interest Paid
InterestPaid
6197000
CY2011 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
4153000
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-25000
CY2011 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
127500000
CY2011 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
5494000
CY2011 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
210000
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-9105000
CY2011 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
14000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69000
CY2011 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9146000
CY2011 us-gaap Interest Expense
InterestExpense
8190000
CY2011 cldt Income Loss Before Income Tax
IncomeLossBeforeIncomeTax
143000
CY2011 cldt Ordinary Income Dividends Per Share
OrdinaryIncomeDividendsPerShare
0.04
CY2011 cldt Return Of Capital Dividends Per Share
ReturnOfCapitalDividendsPerShare
0.660
CY2011 cldt Ordinary Income Dividends Percentage
OrdinaryIncomeDividendsPercentage
0.057 pure
CY2011 cldt Amortization Of Deferred Franchise Fees
AmortizationOfDeferredFranchiseFees
63000
CY2011 cldt Distributions On Long Term Investment Plan
DistributionsOnLongTermInvestmentPlan
0.70
CY2011 cldt Dividends Paid On Unvested Restricted Shares
DividendsPaidOnUnvestedRestrictedShares
41000
CY2011 cldt Loss From Unconsolidated Real Estate Entities
LossFromUnconsolidatedRealEstateEntities
997000
CY2011 cldt Management Fees Recorded Within Hotel Other Operating Expenses
ManagementFeesRecordedWithinHotelOtherOperatingExpenses
2000000
CY2011 cldt Mortgages Assumed On Purchases Of Hotels
MortgagesAssumedOnPurchasesOfHotels
134160000
CY2011 cldt Prepaid Expenses And Other Assets
PrepaidExpensesAndOtherAssets
633000
CY2011 cldt Acquisition Related Expenses Excluded From Pro Forma Net Loss
AcquisitionRelatedExpensesExcludedFromProFormaNetLoss
3200000
CY2011 cldt Return Of Capital Dividends Percentage
ReturnOfCapitalDividendsPercentage
0.943 pure
CY2012 dei Trading Symbol
TradingSymbol
CLDT
CY2012 dei Entity Registrant Name
EntityRegistrantName
CHATHAM LODGING TRUST
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001476045
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
7088000
CY2012 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
34073000
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
20000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
14650000
CY2012 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1452000
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
27998000
CY2012 us-gaap Occupancy Costs
OccupancyCosts
20957000
CY2012 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
41000
CY2012 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
4276000
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1663000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
74000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
54000
CY2012 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
100464000
CY2012 us-gaap Occupancy Revenue
OccupancyRevenue
94566000
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
14273000
CY2012 us-gaap Direct Costs Of Hotels
DirectCostsOfHotels
55030000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
2003000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2603000
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-2350000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1000
CY2012 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.775
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
55000
CY2012 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
shares
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.4717 pure
CY2012 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
236000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14885000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13036000
CY2012 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
55000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
135000
CY2012 us-gaap Dividends Common Stock
DividendsCommonStock
10821000
CY2012 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26500000
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1840000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-184000
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7565000
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1694000
CY2012 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10610000
CY2012 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
26979000
CY2012 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
8590000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13811691 shares
CY2012 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2300000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1375000
CY2012 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
75000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2033000
CY2012 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
21202000
CY2012 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
951000
CY2012 us-gaap Operating Expenses
OperatingExpenses
85814000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13811691 shares
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19000
CY2012 us-gaap Real Estate Accumulated Depreciation Period Increase Decrease
RealEstateAccumulatedDepreciationPeriodIncreaseDecrease
9004000
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2012 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
277000
CY2012 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
198000
CY2012 us-gaap Depreciation
Depreciation
14198000
CY2012 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
148000
CY2012 us-gaap Interest Paid
InterestPaid
12677000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1000
CY2012 us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
38500000
CY2012 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
5238000
CY2012 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
300000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-1450000
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
75000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1722000
CY2012 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
1.00 pure
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div>
CY2012 us-gaap Interest Expense
InterestExpense
14641000
CY2012 cldt Credit Facility Amendment Fee
CreditFacilityAmendmentFee
1200000
CY2012 cldt Income Loss Before Income Tax
IncomeLossBeforeIncomeTax
159000
CY2012 cldt Ordinary Income Dividends Per Share
OrdinaryIncomeDividendsPerShare
0.410
CY2012 cldt Return Of Capital Dividends Per Share
ReturnOfCapitalDividendsPerShare
0.365
CY2012 cldt Ordinary Income Dividends Percentage
OrdinaryIncomeDividendsPercentage
0.529 pure
CY2012 cldt Percentage Of Reit Taxable Income Distributed To Stockholders
PercentageOfReitTaxableIncomeDistributedToStockholders
0.90 pure
CY2012 cldt Amendment Completed Date
AmendmentCompletedDate
2012-11-05
CY2012 cldt Amendment Maturity Date
AmendmentMaturityDate
2015-11
CY2012 cldt Amortization Of Deferred Franchise Fees
AmortizationOfDeferredFranchiseFees
75000
CY2012 cldt Amount Of Rent Expense Under Condition One
AmountOfRentExpenseUnderConditionOne
7000
CY2012 cldt Amount Of Rent Expense Under Condition Two
AmountOfRentExpenseUnderConditionTwo
20000
CY2012 cldt Cost Reimbursements From Unconsolidated Real Estate Entities
CostReimbursementsFromUnconsolidatedRealEstateEntities
1622000
CY2012 cldt Distributions On Long Term Investment Plan
DistributionsOnLongTermInvestmentPlan
0.775
CY2012 cldt Dividends Paid On Unvested Restricted Shares
DividendsPaidOnUnvestedRestrictedShares
272000
CY2012 cldt Loss From Unconsolidated Real Estate Entities
LossFromUnconsolidatedRealEstateEntities
1439000
CY2012 cldt Management Fees Recorded Within Hotel Other Operating Expenses
ManagementFeesRecordedWithinHotelOtherOperatingExpenses
2600000
CY2012 cldt Maximum Additional Terms Up To Which Ground Lease Can Be Extended
MaximumAdditionalTermsUpToWhichGroundLeaseCanBeExtended
12 Term
CY2012 cldt Minimum Percentage Of Annual Rent Increase
MinimumPercentageOfAnnualRentIncrease
0.025 pure
CY2012 cldt Option To Extend Maturity Date
OptionToExtendMaturityDate
P1Y
CY2012 cldt Percentage Of Occupancy Under Condition One
PercentageOfOccupancyUnderConditionOne
0.85 pure
CY2012 cldt Percentage Of Occupancy Under Condition Two
PercentageOfOccupancyUnderConditionTwo
1.00 pure
CY2012 cldt Periods In Each Additional Term
PeriodsInEachAdditionalTerm
P5Y
CY2012 cldt Prepaid Expenses And Other Assets
PrepaidExpensesAndOtherAssets
428000
CY2012 cldt Reimbursed Costs From Unconsolidated Real Estate Entities
ReimbursedCostsFromUnconsolidatedRealEstateEntities
1622000
CY2012 cldt Return Of Capital Dividends Percentage
ReturnOfCapitalDividendsPercentage
0.471 pure
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
750000
CY2011Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
12487000
CY2011Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.00
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11800771 shares
CY2011Q1 us-gaap Operating Expenses
OperatingExpenses
11737000
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11800771 shares
CY2011Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19000
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1288000
CY2011Q2 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
14902000
CY2011Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13757449 shares
CY2011Q2 us-gaap Operating Expenses
OperatingExpenses
16190000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13757449 shares
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1936000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2647000
CY2012Q1 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
22827000
CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13794986 shares
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
20180000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13794986 shares
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1731000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4416000
CY2012Q2 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
26359000
CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.08
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13908907 shares
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
21943000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13810190 shares
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1157000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2188000
CY2011Q3 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
23578000
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13766297 shares
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
21390000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13766297 shares
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-955000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5228000
CY2012Q3 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
27002000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.10
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13908907 shares
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
21774000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13819371 shares
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1498000
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-1521000
CY2011Q4 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
22129000
CY2011Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.45
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13768910 shares
CY2011Q4 us-gaap Operating Expenses
OperatingExpenses
23650000
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13768910 shares
CY2011Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6195000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2359000
CY2012Q4 us-gaap Revenue From Leased And Owned Hotels
RevenueFromLeasedAndOwnedHotels
16850000
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13908907 shares
CY2012Q4 us-gaap Operating Expenses
OperatingExpenses
21917000
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13822021 shares
CY2012Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2374000

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