Chesapeake Lodging Trust Enters Agreement for Rebranding of its Marriott Denver Hotel to Hilton Denver City Center
ARLINGTON, VA. September 18, 2017 - 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.
Contact:
Douglas W. Vicari
571-349-9452
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
