Chesapeake Lodging Trust Announces Proposed Public Offering of 4,200,000 Common Shares

Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced today that it has commenced an underwritten public offering of 4,200,000 common shares. J.P. Morgan is acting as the sole book-running manager for the offering. The underwriter may offer the common shares from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices. The Trust expects to grant the underwriter a 30-day option to purchase up to an additional 630,000 common shares.

The Trust intends to use the net proceeds from the offering, together with the net proceeds from the pending sale of the 153-room Courtyard Anaheim at Disneyland Resort, if completed, or a borrowing under its revolving credit facility, to fund the acquisition of the 337-room JW Marriott San Francisco Union Square.

An effective registration statement relating to these securities is on file with the Securities and Exchange Commission. The offering will be made only by means of a preliminary prospectus supplement and prospectus related to the offering, copies of which may be obtained, when available, by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-866-803-9204.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT CHESAPEAKE LODGING TRUST

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 20 hotels with an aggregate of 5,932 rooms in eight states and the District of Columbia. Additional information can be found on the Trust’s website at www.chesapeakelodgingtrust.com.

Note: Certain statements and assumptions in this press release contain or are based upon “forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words “will likely result,” “may,” “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” or similar expressions, we intend to identify forward-looking statements. Such forward-looking statements include, but are not limited to, the timing of the offering, amount of shares to be offered and contemplated use of proceeds and other funds. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Chesapeake Lodging Trust's control. The Trust undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances, except as required by law.

Chesapeake Lodging TrustDouglas W. Vicari, 410-972-4142

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