v3.25.2
Note 6 - Debt (Details Textual) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 06, 2024
May 31, 2024
Dec. 19, 2022
Oct. 28, 2022
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
May 03, 2024
Long-Term Debt         $ 351,219   $ 406,850  
Repayments of Secured Debt         15,957 $ 263,961    
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]       Secured Overnight Financing Rate (SOFR) [Member]        
Reported Value Measurement [Member]                
Long-Term Debt, Percentage Bearing Fixed Interest, Amount         152,400   164,800  
Long-Term Debt, Percentage Bearing Variable Interest, Amount         $ 210,000   250,000  
Unsecured Delayed-draw Term Loan [Member]                
Debt Instrument, Basis Spread on Variable Rate       0.10%        
Debt Instrument, Face Amount       $ 90,000       $ 140,000
Debt Instrument, Interest Rate, Stated Percentage [1]         5.91%      
First Mortgage Lien Secured by Hyatt Place, Pittsburgh, PA [Member]                
Debt Instrument, Interest Rate, Stated Percentage [2]         7.29%      
First Mortgage Lien Secured by Hyatt Place, Pittsburgh, PA [Member] | Wells Fargo Bank [Member]                
Debt Instrument, Face Amount   $ 23,300            
Debt Instrument, Term (Year)   5 years            
Debt Instrument, Interest Rate, Stated Percentage   7.29%            
First Mortgage Lien Secured by SpringHill Suites by Marriott, Savannah, GA [Member]                
Debt Instrument, Interest Rate, Stated Percentage         6.70%      
Repayments of Secured Debt             27,600  
First Mortgage Lien Secured by SpringHill Suites by Marriott, Savannah, GA [Member] | Barclays Capital Real Estate and Wells Fargo Bank [Member[                
Debt Instrument, Face Amount $ 22,000              
Debt Instrument, Term (Year) 10 years              
Debt Instrument, Interest Rate, Stated Percentage 6.70%              
First Mortgage Lien Secured by Hampton Inn & Suites, Exeter, NH [Member]                
Debt Instrument, Interest Rate, Stated Percentage [3]         6.70%      
First Mortgage Lien Secured by Hampton Inn & Suites, Exeter, NH [Member] | Barclays Capital Real Estate and Wells Fargo Bank [Member[                
Debt Instrument, Face Amount $ 15,000              
Debt Instrument, Term (Year) 10 years              
Debt Instrument, Interest Rate, Stated Percentage 6.70%              
Revolving Credit Facility and Unsecured Term Loan [Member]                
Line of Credit Facility, Maximum Borrowing Capacity         $ 180,000      
Long-Term Debt         $ 210,000   250,000  
First Mortgage Lien Secured by Hampton Inn & Suites, Houston Medical Center, TX [Member]                
Debt Instrument, Interest Rate, Stated Percentage         4.25%      
Repayments of Secured Debt         $ 16,000      
First Mortgage Lien Secured by Residence Inn Marriott, Garden Grove, CA [Member]                
Repayments of Secured Debt             29,300  
First Mortgage Lien Secured by Residence Inn by Marriott, Mountain View, CA [Member]                
Repayments of Secured Debt             34,900  
First Mortgage Lien Secured by Residence Inn by Residence Inn by Marriott, Silicon Valley I, CA [Member]                
Repayments of Secured Debt             59,500  
First Mortgage Lien Secured by Residence Inn by Residence Inn by Marriott, Silicon Valley II, CA [Member]                
Repayments of Secured Debt             65,000  
First Mortgage Lien Secured by Residence Inn by Residence Inn by Marriott, San Mateo, CA [Member]                
Repayments of Secured Debt             44,700  
First Mortgage Lien Secured by Hilton Garden Inn, Marina del Rey, CA [Member]                
Repayments of Secured Debt             18,800  
First Mortgage Lien Secured by Homewood Suites by Hilton, Billerica, MA [Member]                
Repayments of Secured Debt             $ 14,200  
Minimum [Member] | Unsecured Delayed-draw Term Loan [Member]                
Debt Instrument, Basis Spread on Variable Rate       1.45%        
Maximum [Member] | Unsecured Delayed-draw Term Loan [Member]                
Debt Instrument, Basis Spread on Variable Rate       2.20%        
Revolving Credit Facility [Member]                
Debt Instrument, Basis Spread on Variable Rate       0.10%        
Debt Instrument, Interest Rate, Stated Percentage [4]         5.97%      
Line of Credit Facility, Maximum Borrowing Capacity     $ 260,000 $ 215,000        
Line of Credit Facility, Increase (Decrease), Net     $ 45,000          
Revolving Credit Facility [Member] | Minimum [Member]                
Debt Instrument, Basis Spread on Variable Rate       1.50%        
Revolving Credit Facility [Member] | Maximum [Member]                
Debt Instrument, Basis Spread on Variable Rate       2.25%        
[1] The interest rate for the unsecured term loan is variable and based on one-month term SOFR plus a spread of 1.45% to 2.20% based on the Company's leverage and a credit spread adjustment of 0.10%.
[2] On May 31, 2024, a subsidiary of Chatham entered into an agreement with Wells Fargo Bank to obtain a $23.3 million loan secured by the Hyatt Place Pittsburgh. The loan has a term of five years, carries a fixed interest rate of 7.29%, and is interest-only for its duration.
[3] On June 6, 2024, two subsidiaries of Chatham entered into two agreements with Barclays Capital Real Estate and Wells Fargo Bank to obtain a $22.0 million loan secured by the SpringHill Suites Savannah and a $15.0 million loan secured by the Hampton Inn & Suites Exeter. Each loan has a term of ten years, carries a fixed interest rate of 6.70%, and is interest-only for its duration.
[4] The interest rate for the revolving credit facility is variable and based on one-month term secured overnight financing rate ("SOFR") plus a spread of 1.50% to 2.25% based on the Company's leverage and a credit spread adjustment of 0.10%.