Chatham Lodging Trust is a Maryland-based real estate investment trust that owns a portfolio of upscale extended-stay and premium select-service hotels operating under leading brands such as Home2 Suites, Hampton Inn & Suites, Residence Inn, and Hyatt Place. The company generates revenue primarily through room rentals to leisure and business travelers, along with supplementary income from food and beverage sales and ancillary services such as parking and meeting space. Rather than operating the hotels directly—which would violate REIT requirements—Chatham leases its properties to wholly owned taxable REIT subsidiary lessees under percentage-based leases tied to hotel revenue, with third-party managers handling day-to-day operations while the company focuses on acquisition, disposition, and capital allocation to maximize distributable cash flow and shareholder returns.