Revenue during the quarter went down marginally by 0.03 percent to $67.24 million from $67.26 million in the previous year period.

Cost of revenue went up marginally by 0.85 percent or $0.35 million during the quarter to $41.69 million. Gross margin for the quarter contracted 54 basis points over the previous year period to 37.99 percent.

Total expenses were $57.32 million for the quarter, down 2.22 percent or $1.30 million from year-ago period. Operating margin for the quarter expanded 190 basis points over the previous year period to 14.75 percent.

Operating income for the quarter was $9.92 million, compared with $8.64 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $26.27 million compared with $26.04 million in the prior year period. At the same time, adjusted EBITDA margin improved 36 basis points in the quarter to 39.07 percent from 38.71 percent in the last year period.

For fiscal year 2017, Chatham Lodging Trust projects hotel revenue to be in the range of $287.90 million to $293.40 million. The company expects net income to be in the range of $24.30 million to $29.80 million. It forecasts diluted earnings per share to be in the range of $0.62 to $0.76.

For the first-quarter, Chatham Lodging Trust projects hotel revenue to be in the range of $67.60 million to $68.30 million. It expects net income to be in the range of $3.80 million to $5.10 million. The company forecasts diluted earnings per share to be in the range of $0.10 to $0.13.

Occupancy revenue for the quarter was almost stable at $61.91 million, when compared with the previous year period. Food and beverage revenue was $1.49 million during the quarter, down 10.60 percent or $0.18 million from year-ago period. Revenue from other hotel operating activities was $2.42 million for the quarter, down 0.62 percent or $0.02 million from year-ago period.

Other income during the quarter was $1.41 million, up 28.51 percent or $0.31 million from year-ago period.

"Our overall operating results were much better than the guidance we provided for the fourth quarter. The results were driven by across the board beats with RevPAR only declining 0.8 percent versus our guidance of a decline of approximately 2.5 percent. Margins finished 130 basis points better than forecasted, and we achieved lower corporate general and administrative expenses," commented Jeffrey H. Fisher, Chatham’s president and chief executive officer.

Net receivables were at $4.39 million as on Dec. 31, 2016, down 0.99 percent or $0.04 million from year-ago.

Real estate investments stood at $20.42 million as on Dec. 31, 2016, down 13.52 percent or $3.19 million from year-ago.

Total assets went down marginally by 2.56 percent or $34.28 million to $1,302.95 million on Dec. 31, 2016. On the other hand, total liabilities were at $621.36 million as on Dec. 31, 2016, down 2.95 percent or $18.86 million from year-ago.