Chesapeake Lodging Trust reported consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total revenue of $85,100,000 compared to $56,130,000 a year ago. Operating income was $15,331,000 compared to $8,072,000 a year ago. Income before income taxes was $10,073,000 compared to $3,214,000 a year ago. Net income available to common shareholders was $7,465,000 or $0.19 basic and diluted per share compared to $2,941,000 or $0.09 basic and diluted per share a year ago. FFO available to common shareholders was $15,899,000 or $0.40 basic and diluted per share compared to $9,192,000 or $0.29 basic and diluted per share a year ago. AFFO available to common shareholders was $16,037,000 or $0.41 basic and diluted per share compared to $10,063,000 or $0.32 basic and diluted per share a year ago. Adjusted corporate EBITDA was $23,978,000 compared to $15,255,000 a year ago. Adjusted hotel EBITDA was $19,786,000 compared to $18,121,000 a year ago.

For the year, the company reported total revenue of $278,276,000 compared to $172,191,000 a year ago. Operating income was $48,692,000 compared to $22,085,000 a year ago. Income before income taxes was $27,915,000 compared to $9,154,000 a year ago. Net income available to common shareholders was $22,764,000 or $0.66 basic and diluted per share compared to $9,036,000 or $0.30 basic and diluted per share a year ago. Net cash provided by operating activities was $67,737,000 compared to $36,708,000 a year ago. Improvements and additions to hotels were $23,847,000 compared to $3,389,000 a year ago. FFO available to common shareholders was $51,518,000 or $1.51 basic and diluted per share compared to $27,176,000 or $0.92 basic and diluted per share a year ago. AFFO available to common shareholders was $54,754,000 or $1.61 basic and diluted per share compared to $32,727,000 or $1.11 basic and diluted per share a year ago. Adjusted corporate EBITDA was $80,859,000 compared to $46,018,000 a year ago. Adjusted hotel EBITDA was $79,082,000 compared to $68,600,000 a year ago.

The company provided earnings guidance for the first quarter ending March 31, 2013 and year ending December 31, 2013. For the quarter, the company expects net loss available to common shareholders, excluding amounts attributable to unvested time-based awards of $5,880,000 to $5,230,000. FFO available to common shareholders expects to be $2,920,000 or $0.07 diluted per share to $3,570,000 or $0.08 diluted per share. AFFO available to common shareholders expects to be $5,450,000 or $0.12 per diluted share to $6,100,000 or $0.14 diluted per share.

For the year, the company expects total revenue of $368,800,000 to $376,100,000. Hotel EBITDA expects to be $120,520,000 to $124,520,000 and adjusted hotel EBITDA expects to be $120,250,000 to $124,250,000. FFO available to common shareholders expects to be $70,560,000 or $1.50 diluted per share to $74,260,000 or $1.58 diluted per share. AFFO available to common shareholders expects to be $73,280,000 or $1.56 per diluted share to $76,980,000 or $1.64 diluted per share.

The company increased first quarter 2013 dividend by 9% to $0.24 per common share.