Chatham Lodging Trust and Park Hotels Restore Their Dividends
Skift Take
- Chatham Lodging Trust announced its board of trustees reinstated their common dividend, announcing a fourth-quarter common share dividend of $0.07 per common share.
- Park Hotels & Resorts announced a $0.25 per share fourth-quarter cash dividend. $0.12 per share of that represents the fourth quarter payment based on 2022 results.
- Lodging stocks were modestly higher. The only big mover of note was MCG, up 8%.
The DJIA rose 184 points while Nasdaq was up 123, the S&P 500 rose 30 points and the 10-year treasury yield was up .08 to 3.49%. Lodging stocks were modestly higher. The only big mover of note was MCG, up 8%.
Chatham Lodging Trust announced its board of trustees reinstated their common dividend, announcing a fourth-quarter common share dividend of $0.07 per common share.
Park Hotels & Resorts announced a $0.25 per share fourth-quarter cash dividend. $0.12 per share of that represents the fourth quarter payment based on 2022 results of operations while the remaining $0.13 per share is attributable to gains from the sale of Park’s assets during 2022.
The Sheraton Fort Worth Downtown Hotel has begun a $45 million renovation of its guest rooms, lobby, public spaces and restaurants, along with new signage on the façade with updated branding. Part of the Fort Worth, Texas-hotel’s upgrade inv
