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Chesapeake Lodging's hotel portfolio boosts earnings
Fourth-quarter and full-year earnings rose at Chesapeake Lodging Trust, as the company added to its hotel portfolio and increased revenue at its existing properties.
The Annapolis real estate investment trust posted net income of $9.9 million for the quarter ended Dec. 31, more than double the $2.9 million it earned in fourth quarter 2011.
On a per share basis, net income available to holders of Chesapeake’s common stock rose to 19 cents for the quarter, up from 9 cents in fourth quarter 2011.
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