Chatham Lodging Trust Announces Opening of Home2 Suites by Hilton Woodland Hills Los Angeles – Hospitality Net

Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay and premium branded serviced hotels, today announced the opening of the 170-suite Home2 Suites by The Hilton Woodland Hills Los Angeles is in the heart of the Warner Center. The opening adds another high-quality extended-stay hotel to the Chatham portfolio, the third such hotel in the past six months with a total investment of approximately $140 million.

Within Woodland Hills, Warner Center is located in Los Angeles’ highly desirable San Fernando Valley submarket. The San Fernando Valley includes some of the most desirable and affluent communities in Southern California. Warner Center currently generates significant standalone demand with 10 million square feet (SF) of office space employing approximately 50,000 people, nearly 8 million SF of retail space and home to more than 20,000 residents. The City of Los Angeles adopted the Warner Center 2035 Plan, a development plan that emphasizes mixed-use and transit-oriented development, walkability, and sustainability, with the goal of further urbanizing the zoning district. The Warner Center 2035 Plan facilitates the creation of a regional center where people can live, work and play. The plan covers approximately 1,100 acres and calls for a net increase of 12.5 million SF of office, 2.3 million SF of retail and 23.5 million SF of new homes (over 20,000 units).

The hotel is managed by Island Hospitality Management, which is owned by Fisher.