-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000919574-10-005830.txt : 20101008
<SEC-HEADER>0000919574-10-005830.hdr.sgml : 20101008
<ACCEPTANCE-DATETIME>20101008163758
ACCESSION NUMBER:		0000919574-10-005830
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101006
FILED AS OF DATE:		20101008
DATE AS OF CHANGE:		20101008

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PORTER A ALEX
		CENTRAL INDEX KEY:			0001120329

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34572
		FILM NUMBER:		101116419

	MAIL ADDRESS:	
		STREET 1:		C/O PORTER ORLIN LLC
		STREET 2:		666 FIFTH AVENUE, 34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ORLIN PAUL E
		CENTRAL INDEX KEY:			0001221176

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34572
		FILM NUMBER:		101116418

	MAIL ADDRESS:	
		STREET 1:		C/O PORTER ORLIN LLC
		STREET 2:		666 FIFTH AVENUE, 34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HULME GEOFFREY
		CENTRAL INDEX KEY:			0001307047

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34572
		FILM NUMBER:		101116417

	MAIL ADDRESS:	
		STREET 1:		C/O PORTER ORLIN LLC
		STREET 2:		666 FIFTH AVENUE, 34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FRIEDLAND JONATHAN W
		CENTRAL INDEX KEY:			0001307048

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34572
		FILM NUMBER:		101116416

	MAIL ADDRESS:	
		STREET 1:		C/O PORTER ORLIN LLC
		STREET 2:		666 FIFTH AVENUE, 34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chesapeake Lodging Trust
		CENTRAL INDEX KEY:			0001473078
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				270372343
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1997 ANNAPOLIS EXCHANGE PARKWAY
		STREET 2:		SUITE 410
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401
		BUSINESS PHONE:		(410) 972-4140

	MAIL ADDRESS:	
		STREET 1:		1997 ANNAPOLIS EXCHANGE PARKWAY
		STREET 2:		SUITE 410
		CITY:			ANNAPOLIS
		STATE:			MD
		ZIP:			21401

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Porter Orlin LLC
		CENTRAL INDEX KEY:			0001326537
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34572
		FILM NUMBER:		101116420

	BUSINESS ADDRESS:	
		STREET 1:		666 FIFTH AVENUE
		STREET 2:		34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103
		BUSINESS PHONE:		212-484-5000

	MAIL ADDRESS:	
		STREET 1:		666 FIFTH AVENUE
		STREET 2:		34TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10103
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p1136878.xml
<DESCRIPTION>PORTER ORLIN/CHESAPEAKE
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-10-06</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001473078</issuerCik>
        <issuerName>Chesapeake Lodging Trust</issuerName>
        <issuerTradingSymbol>CHSP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001326537</rptOwnerCik>
            <rptOwnerName>Porter Orlin LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>666 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>34TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001120329</rptOwnerCik>
            <rptOwnerName>PORTER A ALEX</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>666 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>34TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001307047</rptOwnerCik>
            <rptOwnerName>HULME GEOFFREY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>666 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>34TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001307048</rptOwnerCik>
            <rptOwnerName>FRIEDLAND JONATHAN W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>666 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>34TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001221176</rptOwnerCik>
            <rptOwnerName>ORLIN PAUL E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>666 FIFTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>34TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2010-10-06</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>550000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1600000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9350</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Porter Orlin LLC, A. Alex Porter, Geoffrey Hulme, Jonathan W. Friedland and Paul Orlin (each, a &quot;Reporting Person&quot; and collectively the &quot;Reporting Persons&quot;) disclaim beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. The Reporting Persons affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</footnote>
        <footnote id="F2">The Reporting Persons may be deemed to have beneficial ownership over these securities, which are held in the accounts of unregistered investment companies and managed accounts over which the Reporting Persons exercise investment discretion.</footnote>
        <footnote id="F3">These securities are held in an account controlled by Paul Orlin, who is a Reporting Person.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Porter Orlin LLC, By: /s/ A. Alex Porter, Principal</signatureName>
        <signatureDate>2010-10-08</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ A. Alex Porter</signatureName>
        <signatureDate>2010-10-08</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Geoffrey Hulme</signatureName>
        <signatureDate>2010-10-08</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Jonathan W. Friedland</signatureName>
        <signatureDate>2010-10-08</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Paul Orlin</signatureName>
        <signatureDate>2010-10-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----