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    Manish Modi

    Senior Analyst at Millennium Management

    Manish Modi is a Senior Analyst at Millennium Management, specializing in equities research across the technology and consumer sectors with a particular focus on large-cap internet, e-commerce, and digital services companies such as Amazon, Google, Meta, and Alibaba. Throughout his career, Manish has demonstrated a robust performance record, with his stock recommendations achieving a notable success rate and outperforming relevant benchmarks according to independent platforms like TipRanks. Prior to joining Millennium Management in 2021, Manish held research and investment roles at firms including Point72 Asset Management and UBS, building a reputation for incisive analysis and strategic insight. He is FINRA-registered with multiple securities licenses, highlighting his professionalism and compliance in the financial industry.

    Manish Modi's questions to Chatham Lodging Trust (CLDT) leadership

    Manish Modi's questions to Chatham Lodging Trust (CLDT) leadership • Q4 2024

    Question

    Manish Modi asked about any operational impact from the recent wildfires in the Los Angeles area. He also questioned the company's stock valuation, noting its flat performance over the last 12-18 months despite significant balance sheet deleveraging and strong performance in markets like Silicon Valley.

    Answer

    Executive Dennis Craven reported no physical damage from the LA wildfires, noting one of the three area hotels benefited from displaced residents and insurance-related business. Regarding the stock's valuation, Executive Jeremy Wegner explained that while the price-to-FFO multiple is in line with peers, the EV-to-EBITDA multiple is at a discount due to higher, market-rate interest costs on its refinanced debt. Executive Jeffrey Fisher added that investor uncertainty about the pace of the Silicon Valley recovery, which is still well below 2019 levels, likely puts a 'lid on our share price' until growth becomes more consistent.

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