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Press release from Business Wire

Chesapeake Lodging Trust Completes Public Offering of Common Shares

Friday, March 04, 2011

Chesapeake Lodging Trust Completes Public Offering of Common Shares10:40 EST Friday, March 04, 2011 ANNAPOLIS, Md. (Business Wire) -- Chesapeake Lodging Trust (NYSE: CHSP) (the "Company") today announced it has completed its public offering of 12,500,000 common shares, raising approximately $212.2 million of net proceeds, after deducting the underwriting discount and other offering costs. Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and KeyBanc Capital Markets Inc. served as the joint book-running managers for the offering, with RBC Capital Markets, LLC, Robert W. Baird & Co. Incorporated, and JMP Securities LLC acting as co-managers. 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. 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 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