November 15, 2010 (FinancialWire) (http://www.financialwire.net/) — Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust, said that it is launching an underwritten public offering of seven million common shares. Barclays Capital (NYSE: BCS) and UBS Investment Bank (NYSE: UBS) are acting as the joint book-running managers.

The company said it expects to grant the underwriters a 30-day option to purchase up to 1.05 million additional common shares to cover overallotments, if any.

Chatham said it plans to use the net proceeds of the offering to repay debt under its secured revolving credit facility, to acquire additional hotels and for general business purposes.

Florida-based Chatham Lodging Trust currently owns 13 hotels with an aggregate of 1,650 rooms/suites in nine states.

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