“Who is Chesapeake Lodging Trust?”

Posted: 14 Oct 2010 10:12 PM PDT

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This week citybizlist ran two stories concerning Annapolis-based Chesapeake Lodging Trust (NYSE:CHSP), a real estate investment trust (REIT) focused on upscale hotels including the Hyatt Regency Boston, Hilton Checkers Los Angeles, Courtyard Anaheim at Disneyland Resort and Boston Marriott Newton.

On Monday we reported that the New York investment firm of Porter Orlin bought 550,000 shares of Chesapeake Lodging for $9 million, as part of a public offering conducted by the company. And yesterday we covered the offering itself, with 9,085,000 shares sold for about $140.5 million in net proceeds.

This was the second wave of news about Chesapeake Lodging Trust, which went public in a January $148 million dollar offering.

Citybizlist is all about people, but in looking over these pieces one thing struck me: there is nary a mention of, or a quote from, the person in charge of Chesapeake Lodging Trust, notwithstanding a June story about a cap on bonuses for company executives.

So let's devote a word or two to James L. Francis, President and CEO.

Francis received his B.A. in economics and business from Western Maryland College (now McDaniel) and spent more than ten years in various strategic and financial positions at Host Marriott and Marriott International, Inc.

From there he moved to Crestline Capital Corporation and rose to chief operating officer, chief financial officer and treasurer until the company was acquired by Barceló. Then he spent four years as a senior executive and eventual CEO at Highland Hospitality Corporation, until Highland was sold to JER Partners.

And then along came Chesapeake Lodging, where Francis has served for two years, including taking the company public.

It is perhaps fitting that an investor in hotels should be pretty well-traveled himself. And in the case of James L. Francis, he seems to be pretty self-effacing as well.

Related citybizlist articles:

Porter Orlin Pays $9M for Chesapeake Lodging Trust Shares - cbl

Porter Orlin Increases Stake in Chesapeake Lodging Trust to 11.23% Worth $17.9M - cbl

SEC Filing: Chesapeake Lodging Trust Sets Exec Bonuses; CEO James Francis Capped at $1.05M

Posted: Oct 15, 2010

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