Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]

CHATHAM LODGING TRUST

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2025

(in thousands)

				Initial Cost								Gross Amount at End of Year
										Cost Cap. Sub.
	Year of					Buildings &		Cost Cap. Sub.		To Acq. Bldg &				Buildings &				Buildings &		Accumulated		Year of Original		Depreciation
Description	Acquisition	Encumbrances		Land		Improvements		To Acq. Land		Improvements		Land		Improvements		Total		Improvements		Depreciation		Construction		Life
Homewood Suites Hartford - Farmington, CT	2010		—		1,325		9,375		92		4,435		1,417		13,810		15,227		13,810		6,076		1999		(1)
Residence Inn Holtsville - Holtsville, NY	2010		—		2,200		18,765		27		2,875		2,227		21,640		23,867		21,640		8,210		2004		(1)
Residence Inn White Plains - White Plains, NY	2010		—		2,200		17,677		—		13,266		2,200		30,943		33,143		30,943		13,393		1982		(1)
Residence Inn New Rochelle - New Rochelle, NY	2010		—		—		20,281		9		6,351		9		26,632		26,641		26,632		10,726		2000		(1)
Residence Inn Garden Grove - Garden Grove, CA	2011		—		7,109		35,484		57		5,123		7,166		40,607		47,773		40,607		15,271		2003		(1)
Homewood Suites San Antonio - San Antonio, TX	2011		—		5,999		24,764		10		10,602		6,009		35,366		41,375		35,366		13,410		1996		(1)
Residence Inn Washington DC - Washington, DC	2011		—		6,083		22,063		16		9,975		6,099		32,038		38,137		32,038		13,183		1974		(1)
Residence Inn Tyson's Corner - Vienna, VA	2011		—		5,752		28,917		6		3,033		5,758		31,950		37,708		31,950		12,047		2001		(1)
Hampton Inn Portland Downtown - Portland, ME	2012		—		4,315		22,664		5		1,587		4,320		24,251		28,571		24,251		7,916		2011		(1)
Hyatt Place Pittsburgh - Pittsburgh, PA	2013		23,300		3,000		35,576		15		1,969		3,015		37,545		40,560		37,545		12,108		2011		(1)
Hampton Inn & Suites Exeter - Exeter, NH	2013		15,000		1,900		12,350		4		1,567		1,904		13,917		15,821		13,917		4,288		2010		(1)
Residence Inn Bellevue - Bellevue, WA	2013		—		13,800		56,957		—		6,667		13,800		63,624		77,424		63,624		18,955		2008		(1)
SpringHill Suites Savannah - Savannah, GA	2013		22,000		2,400		36,050		1		3,767		2,401		39,817		42,218		39,817		12,077		2009		(1)
Residence Inn Silicon Valley I - Sunnyvale, CA	2014		—		42,652		45,846		72		6,773		42,724		52,619		95,343		52,619		38,559		1983		(1)
Residence Inn Silicon Valley II - Sunnyvale, CA	2014		—		46,474		50,380		56		8,032		46,530		58,412		104,942		58,412		42,477		1985		(1)
Residence Inn San Mateo - San Mateo, CA	2014		—		38,420		31,352		123		5,769		38,543		37,121		75,664		37,121		26,813		1985		(1)
Residence Inn Mt. View - Mountain View, CA	2014		—		22,019		31,813		29		10,832		22,048		42,645		64,693		42,645		30,680		1985		(1)
Hyatt Place Cherry Creek - Cherry Creek, CO	2014		—		3,700		26,300		—		4,749		3,700		31,049		34,749		31,049		8,962		1987		(1)
Courtyard Addison - Dallas, TX	2014		—		2,413		21,554		42		4,813		2,455		26,367		28,822		26,367		7,925		2000		(1)
Residence Inn Gaslamp - San Diego, CA	2015		—		—		89,040		10		2,199		10		91,239		91,249		91,239		25,474		2009		(1)
Hilton Garden Inn - Marina del Rey, CA	2015		—		—		43,210		5		3,318		5		46,528		46,533		46,528		12,015		2013		(1)
Residence Inn - Dedham, MA	2015		—		4,230		17,304		—		3,245		4,230		20,549		24,779		20,549		5,677		1998		(1)
Residence Inn - Ft. Lauderdale, FL	2015		—		9,200		24,048		14		2,907		9,214		26,955		36,169		26,955		7,443		2008		(1)
Home2 Suites - Woodland Hills, CA	2017		—		6,500		—		128		56,732		6,628		56,732		63,360		56,732		17,280		2022		(1)
Hilton Garden Inn - Portsmouth, NH	2017		—		3,600		37,630		—		5,278		3,600		42,908		46,508		42,908		8,266		2006		(1)
Courtyard - Summerville, SC	2017		9,000		2,500		16,923		7		1,211		2,507		18,134		20,641		18,134		3,749		2014		(1)
Embassy Suites - Springfield, VA	2017		—		7,700		58,807		—		2,665		7,700		61,472		69,172		61,472		12,345		2013		(1)

- continued -

				Initial Cost								Gross Amount at End of Year
										Cost Cap. Sub.
	Year of					Buildings &		Cost Cap. Sub.		To Acq. Bldg &				Buildings &				Buildings &		Accumulated		Year of Original		Depreciation
Description	Acquisition	Encumbrances		Land		Improvements		To Acq. Land		Improvements		Land		Improvements		Total		Improvements		Depreciation		Construction		Life
Residence Inn - Summerville, SC	2018		9,500		2,300		17,060		11		344		2,311		17,404		19,715		17,404		3,276		2018		(1)
Courtyard Dallas Downtown - Dallas, TX	2018		24,500		2,900		42,760		—		267		2,900		43,027		45,927		43,027		7,616		2018		(1)
Silicon Valley III - Sunnyvale, CA	2018		—		8,171		—		—		—		8,171		—		8,171		—		—
Residence Inn Austin Northwest/The Domain Area - Austin, TX	2021		20,850		2,400		33,346		—		349		2,400		33,695		36,095		33,695		3,747		2016		(1)
TownePlace Suites Austin Northwest/The Domain Area - Austin, TX	2021		19,075		2,300		29,347		5		139		2,305		29,486		31,791		29,486		3,253		2021		(1)
Hilton Garden Inn Destin - Miramar Beach, FL	2022		—		4,222		25,246		18		193		4,240		25,439		29,679		25,439		2,457		2020		(1)
Grand Total(s)				$	267,784	$	982,889	$	762	$	191,032	$	268,546	$	1,173,921	$	1,442,467	$	1,173,921	$	415,674

(1) Depreciation is computed based upon the following estimated useful lives:

	Years
Building	40
Land improvements	20
Building improvements	5 - 20

- continued -

Notes:

(a) The change in total cost of real estate assets for the year ended is as follows:

	2025			2024			2023
Balance at the beginning of the year	$	1,512,612		$	1,564,433		$	1,556,453
Acquisitions		—			—			—
Dispositions		(87,014	)		(62,647	)		—
Impairment of depreciable assets		—			(4,256	)		(4,266	)
Improvements		16,869			15,082			12,246
Balance at the end of the year	$	1,442,467		$	1,512,612		$	1,564,433
Finance lease assets at the end of the year		39,518			40,240			—
Total investment in real estate	$	1,481,985		$	1,552,852		$	1,564,433

(b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows:

	2025			2024			2023
Balance at the beginning of the year	$	401,532		$	376,323		$	328,832
Depreciation expense		42,095			46,588			47,491
Accumulated depreciation on dispositions		(27,953	)		(21,379	)		—
Accumulated depreciation at the end of the year	$	415,674		$	401,532		$	376,323
Accumulated amortization of finance leases at the end of the year		927			596			—
Total accumulated depreciation and amortization	$	416,601		$	402,128		$	376,323

(c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,482,197 as of December 31, 2025.