Chesapeake Lodging Trust Announces Rebranding of Denver City Center
September 14 2017 - 7:30AM
Business Wire
Chesapeake Lodging Trust (NYSE:CHSP) (the “Trust”) announced
today that it has entered into a management agreement with Hilton
(NYSE:HLT) to rebrand its previous 613-room Marriott hotel, located
in Denver, Colorado, to the Hilton Denver City Center. “We
appreciate the years of service by our Marriott friends and
partners; however, we are happy to welcome Hilton into our hotel,”
stated James L. Francis, President and Chief Executive Officer of
the Trust.
The Trust recently completed a multiyear, comprehensive
repositioning program for the Denver property, reinvesting in
excess of $27 million over the past 36 months. “Our strategic plans
in Denver began several years ago when we began a transformational
renovation of all public areas, food and beverage facilities and
every guestroom and bathroom. The fully renovated hotel will be the
only Hilton branded property in all of downtown Denver,” continued
Mr. Francis.
The Hilton rebranding and management change is expected to occur
on December 1, 2017. The new management agreement with Hilton
contains customary market terms and conditions.
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
22 hotels with an aggregate of 6,694 rooms in nine 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
expected rebranding and management change. 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170914005388/en/
Chesapeake Lodging TrustDouglas W. Vicari, 571-349-9452
Chesapeake Lodging (NYSE:CHSP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Chesapeake Lodging (NYSE:CHSP)
Historical Stock Chart
From Apr 2023 to Apr 2024