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Chatham Lodging cuts Q3 guidance

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Chatham Lodging cuts Q3 guidance

Chatham Lodging Trust lowered its third-quarter AFFO-per-share guidance to a range of 70 cents to 71 cents from a prior range of 72 cents to 75 cents.

The company also adjusted its RevPAR growth outlook for the quarter to -2.1% from the previous range of -1.0% to +1.0%.

The company said the reduced outlook for the three-month period ended Sept. 30 follows reduced RevPAR performance, increased wage pressures and rising guest-acquisition costs from online travel agency commissions.