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Press release from Business Wire

Chesapeake Lodging Trust Announces Proposed Public Offering of 11,500,000 Common Shares

Monday, February 28, 2011

Chesapeake Lodging Trust Announces Proposed Public Offering of 11,500,000 Common Shares16:07 EST Monday, February 28, 2011 ANNAPOLIS, Md. (Business Wire) -- Chesapeake Lodging Trust (NYSE: CHSP) (the "Company") announced today that it is commencing an underwritten public offering of 11,500,000 common shares. The Company expects to grant the underwriters a 30-day option to purchase up to 1,725,000 additional common shares. Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc. are the joint book-running managers for the offering. The Company intends to use the net proceeds of the offering to repay debt under its revolving credit facility, for hotel investments, and for general business purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's common shares, nor shall there be any sale of the common shares in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Copies of the preliminary prospectus supplement and the related prospectus for the proposed offering, when available, may be obtained from Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, NJ 07311-3988, or by calling (800) 503-4611, or by e-mail at prospectus.cpdg@db.com; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by calling (800) 326-5897, or by email at cmclientsupport@wellsfargo.com; or J.P. Morgan Securities LLC, Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204; or KeyBanc Capital Markets Inc., Attention: Equity Syndicate Department, 127 Public Square, Cleveland, OH 44114, or by calling (800) 859-1783. 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 and extended-stay hotels in urban settings or unique locations in the United States. The Company owns five hotel properties with an aggregate of 1,629 rooms in two states. Additional information can be found on the Company's website at www.chesapeakelodgingtrust.com. Certain statements and assumptions in this press release contain or are based upon "forward-looking" information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. When we use the words "will likely result," "may," "anticipate," "estimate," "should," "expect," "believe," "intend," or similar expressions, we intend to identify forward-looking statements. Such forward-looking statements include, but are not limited to, the timing of the offering and amount of shares to be offered and contemplated use of proceeds. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Chesapeake Lodging Trust's control. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances, except as required by law. Chesapeake Lodging TrustDouglas W. Vicari, 410-972-4142