Midwest Hotel Portfolio Acquired by Chatham Lodging Trust | Consumer M&A Deal

Chatham Lodging Trust has completed the acquisition of the Midwest Hotel Portfolio, a consumer other business in Missouri, Illinois, and Kentucky, for $92.0 million. Chatham Lodging Trust acquires Midwest Hotel Portfolio assets consisting of six Hilton-brand hotels totaling 589 rooms, managed by Island Hospitality Management, LLC. The consumer M&A add on acquisition expands Chatham’s lodging footprint across multiple Midwestern states while supporting ongoing hotel operations under Hilton brand management. The public company acquisition is structured as an add on acquisition funded with available cash and borrowings on its revolving credit facility, with preliminary purchase price allocations subject to change during the measurement period.