Chesapeake Lodging Trust (NYSE:CHSP) announced today the estimated income tax classification of the Trust's 2011 distributions on its common shares (CUSIP #165240102). The income tax classification of the 2011 distributions as it is expected to be reported on Form 1099-DIV is set forth in the following table1:

      Total Cash   Ordinary  
Declaration Record Payment Distribution Taxable Return of
Date   Date   Date   Per Share   Dividend   Capital
 
03/17/2011 03/31/2011 04/15/2011 $0.200000 $0.190840 $0.009160
06/15/2011 06/30/2011 07/15/2011 0.200000 0.190840 0.009160
09/19/2011 09/30/2011 10/14/2011 0.200000 0.190840 0.009160
Totals $0.600000 $0.572520 $0.027480
 

(1)

   Shareholders should note that the 2011 fourth quarter distribution, which had a record date of December 31, 2011 and was paid on January 13, 2012, will be reported on the 2012 Form 1099-DIV provided to shareholders in January 2013.

This release is based on the preliminary results of work on the Trust's tax filings and is subject to correction or adjustment when the filings are completed. The Trust is releasing information at this time to aid those required to distribute Forms 1099 on the Trust's dividends. No material change in these classifications is expected. Shareholders are encouraged to consult with their own tax advisors as to the specific tax treatment to them of the Trust's distributions.

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 Trust owns 12 hotels with an aggregate of 3,516 rooms in six states and the District of Columbia. Additional information can be found on the Trust's website at www.chesapeakelodgingtrust.com.

Chesapeake Lodging Trust
Douglas W. Vicari, 410-972-4142