The Appointment
The board of trustees of Chatham Lodging Trust appointed William P. (Liam) Brown a trustee on 10 September 2026, effective immediately, on the recommendation of its Nominating and Corporate Governance Committee.
The trust announced the appointment on 14 September 2026 in a release furnished as Exhibit 99.1 to a Form 8-K signed by Jeremy Wegner, its senior vice president and chief financial officer.
Brown ran Marriott International's United States and Canada business as group president from January 2021 until his retirement in June 2026. The filing credits that role with the financial management and leadership of Marriott's lodging operations in North and South America, more than 6,000 hotels and a workforce of about 160,000 associates. He joined Marriott in 1989.
He has served as a trustee of EPR Properties since 6 September 2024, where he chairs the Compensation and Human Capital Committee and sits on the Nominating and Corporate Governance Committee. He also sits on the Executive Committee of the American Hotel and Lodging Association.
The Platform the Seat Sits Over
The trust owns 39 hotels with 5,610 rooms and suites in 18 states and the District of Columbia. Room revenue was 91.8 per cent of second-quarter revenue, and every hotel in the portfolio is select-service or limited-service.
The Second Quarter in Numbers
For the three months ended 30 June 2026 the same-property set of 39 hotels recorded occupancy of 80.9 per cent against 81.3 per cent a year earlier. Average daily rate was $195.34 against $188.05. Revenue per available room was $157.97 against $152.87, up 3.3 per cent.
The filing also reports an actual basis, which counts each hotel for the days the trust owned it. On that basis the quarter read 80.9 per cent occupancy against 81.4 per cent, $195.34 average daily rate against $190.15, and $157.97 revenue per available room against $154.86, up 2.0 per cent.
The same-property monthly series ran $147.11 in April, up 1.8 per cent, $151.69 in May, down 0.8 per cent, and $175.32 in June, up 8.7 per cent.
Smith Travel Research reported United States lodging industry revenue per available room up 5.7 per cent for the same quarter, with April up 4.4 per cent, May up 4.0 per cent and June up 8.4 per cent. The filing states its expectation that industry revenue per available room will keep rising modestly through the rest of 2026.
Over the six months the same-property set read 76.7 per cent occupancy, $186.66 average daily rate and $143.18 revenue per available room, up 2.3 per cent. Total revenue was $155.3 million against $148.9 million.
The Portfolio Moves Behind the Metrics
The trust acquired six hotels on 3 March 2026 for $92.0 million, in Paducah, Kentucky, Joplin, Missouri, and Effingham, Illinois. Those six contributed $7.3 million of revenue in the second quarter and $9.5 million across the half.
Four hotels left the portfolio in 2025. Homewood Suites by Hilton Nashville-Brentwood sold on 30 January for $15.0 million. Hampton Inn & Suites Houston-Medical Center sold on 17 March for $15.5 million. Courtyard Houston-Medical Center sold on 22 April for $23.5 million. Homewood Suites by Hilton Boston-Billerica sold on 23 December for $17.4 million.
The Terms and the Returns
Brown receives a one-time initial grant of 5,000 restricted common shares and the compensation paid to the other trustees and committee chairmen, which the definitive proxy statement filed on 31 March 2026 describes. His term runs to the 2027 annual meeting of shareholders. The filing records no arrangement or understanding with any other person about his selection and no family relationship with any director or executive officer.
The trust declared $0.10 per common share in the quarter against $0.09 a year earlier, and $0.20 across the half against $0.18. It repurchased 1,216,672 common shares over the six months at a weighted-average price of $7.79, for about $9.5 million, and about $6.6 million remained available under the programme at 30 June 2026.
Common shares of beneficial interest trade on the New York Stock Exchange as CLDT. The 6.625 per cent Series A cumulative redeemable preferred shares trade as CLDT-PA.
The filing gives Brown no committee assignment at Chatham and publishes no rate, revenue or capital target for the trust.