Chesapeake Lodging Trust
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Chesapeake Lodging Trust (NYSE:CHSP) is a self-advised Real Estate Investment Trust specializing in the hotel or hospitality sector. Their Initial Public Offering (IPO) took place January 22, 2010.
Chesapeake Lodging was formed in June 2009, in the depths of the financial crisis, and focuses on investing in upper scale hotels in major business, airport and convention markets, and premium urban areas. They currently own four hotels in two states, with a total of 1269 rooms.
James L.Francis is President and Chief Executive Officer.
Chesapeake Lodging's current portfolio includes: Hyatt Regency Boston, Hilton Checkers Los Angeles, Courtyard Anaheim at Disneyland Resort and Boston Marriott Newton.
The Recession has Put Prime Hotel Properties on the Market for REITs Such as Chesapeake Lodging Trust to Acquire Cheaply
They indicate they believe the time is right to acquire prime hotel properties with attractive yields. That is because the financial crisis and recession has hit the hotel/travel industry -- including related REITs -- very hard.
Consumers have cut back on personal travel and tourism. Companies have cut back on business travel. Although we're told that a recovery is underway, this industry is still in precarious shape.
However, that can spell opportunity for investors with the money to spend on choice properties. It's obvious Chesapeake Lodging has bought up hotels in four prime locations. Boston and Los Angeles for business, and Disneyland for tourism.
Therefore, assuming good management and an economy that recovers, Chesapeake Lodging Trust is positioned to benefit from better times for the hotel industry in the future.
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