Summit Hotel Properties

Summit Hotel Properties, Inc. is a real estate investment trust, which operates as a self-managed hotel investment company. It focuses on owning premium-branded select-service hotels. Its hotels are located in corporate offices, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. The company was founded on June 30, 2010 and is headquartered in Frisco, TX.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Summit Hotel Properties excels in 2022 with strong financial growth

Summit Hotel Properties delivered a strong performance in 2022, marked by robust financial growth and strategic acquisitions. Despite challenges like labor shortages, the company remains well-positioned for success. Opportunities for further expansion and technological advancements bode well for future prospects.

Summit Hotel Properties reports stellar Q1 performance and optimistic outlook

Summit Hotel Properties (INN) showcased robust performance in Q1 2023, marked by significant RevPAR and EBITDA growth across its portfolios.
With a strong focus on operational efficiency and a positive outlook for the year, the company is well-positioned to capitalize on growth opportunities in the hospitality sector.
While challenges may arise in the competitive market environment, Summit Hotel Properties' strategic strengths and growth initiatives provide a solid foundation for future success.

Summit Hotel Properties (INN) reports strong Q2 performance and strategic growth focus

Summit Hotel Properties (INN) demonstrated resilience and strategic agility in Q2 2023, leveraging market trends and operational excellence to drive growth and enhance shareholder value.
While facing challenges in a slow transaction environment and evolving demand dynamics, the company's proactive approach to financial management and portfolio optimization positions it well for future opportunities.
By maintaining a strong balance sheet, revising guidance ranges, and focusing on capital allocation, Summit Hotel Properties is poised to navigate challenges and capitalize on growth prospects in the hospitality sector.

Summit Hotel Properties (INN) excels in Q3 amidst market challenges

Summit Hotel Properties (INN) reported strong Q3 results driven by robust demand trends and strategic acquisitions.
Despite challenges in the transaction market and cost pressures, the company remains optimistic about future opportunities.
INN's focus on balance sheet management, market positioning, and operational efficiency positions it well for future growth and resilience.

Summit Hotel Properties excels in Q4 2023, eyes strategic growth

Summit Hotel Properties delivered strong financial performance in Q4 2023, showcasing growth in revenue and operational efficiency.
The company's strategic actions to refinance debt, manage its portfolio, and focus on revenue diversification position it well for future growth.
Challenges lie in managing continued expense growth, asset sales, and evaluating new development opportunities in the hospitality sector.
Opportunities exist in capitalizing on stable demand, exploring new brand options, and pursuing acquisitions to drive future expansion and profitability.

Summit Hotel Properties excels in Q1, eyes urban market growth

Summit Hotel Properties' Q1 results showcase robust performance and strategic initiatives to drive growth. Despite challenges in certain markets, the company remains optimistic about industry recovery and is committed to enhancing shareholder value through prudent financial management.

Summit Hotel Properties reports Q3 growth amidst challenges and opportunities

Summit Hotel Properties (INN) delivered a resilient performance in Q3, with RevPAR increases and effective expense management. Despite challenges from recent hurricanes, the company remains focused on strengthening its financial position and pursuing growth opportunities. With a positive outlook and strategic initiatives in place, Summit Hotel Properties is poised for continued success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Summit Hotel Properties, Inc. is a real estate investment trust, which engages in both general and limited partnership interests in Summit Hotel OP, LP. It focuses on owning premium-branded select-service hotels. Its hotels are located in corporate offices, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. The company was founded on June 30, 2010 and is headquartered in Austin, TX.

CubeSmart

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

These 3 Real Estate Stocks With Over 4% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts

Summit Hotel Properties is a select-service hospitality REIT with a portfolio of 100 hotels and 15,000 rooms. The company has a conservative dividend payout ratio, with the potential for further increases. The company's stock is also undervalued compared to its peers, making for an attractive investment.

Summit Hotel Properties: Well-Covered Dividends; Attractive Valuation

Summit Hotel Properties, Inc. (NYSE:INN ) Q2 2023 Earnings Conference Call August 3, 2023 10:00 AM ET Company Participants Adam Wudel - Investor Relations Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Michael Bellisario - Baird Bill Crow - Raymond James Dany Asad - Bank of America Operator Good day and thank you for standing by. Welcome to the Summit Hotel Properties Q2 2023 Earnings Conference Call.

Summit Hotel Properties, Inc. (INN) Q2 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Summit Hotel Properties (INN) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Summit Hotel Properties (INN) Reports Q2 Earnings: What Key Metrics Have to Say

Pro Forma RevPAR Reaches New Post-Pandemic High The Nordic Lodge Steamboat Springs Acquired Through GIC Joint Venture AUSTIN, Texas , Aug. 2, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the three and six months ended June 30, 2023. "Key operating fundamentals continued to improve during the second quarter as nominal quarterly RevPAR reached its highest level since the onset of the pandemic, highlighted by nearly 15% RevPAR growth in the NewcrestImage portfolio.

SUMMIT HOTEL PROPERTIES REPORTS SECOND QUARTER 2023 RESULTS

AUSTIN, Texas , July 27, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the second quarter ended June 30, 2023, of $0.06 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The Company's second quarter common dividend represents an annualized dividend yield of 3.9 percent based on the closing price of shares of the common stock on July 26, 2023.

SUMMIT HOTEL PROPERTIES DECLARES SECOND QUARTER 2023 DIVIDENDS

AUSTIN, Texas , June 22, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has successfully completed the refinancing of its $600 million senior unsecured credit facility (the "Credit Facility"), which is comprised of a $400 million senior unsecured revolving credit facility (the "Revolver") and $200 million senior unsecured term loan (the "Term Loan"). "We greatly appreciate the ongoing support of our lending partners and are extremely pleased with the execution of this credit facility refinancing.

SUMMIT HOTEL PROPERTIES COMPLETES $600 MILLION CREDIT FACILITY REFINANCING

AUSTIN, Texas , June 21, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the second quarter of 2023 on Wednesday, August 2, 2023, after the market closes. The Company will conduct its quarterly conference call on Thursday, August 3, 2023, at 10:00 AM ET.

SUMMIT HOTEL PROPERTIES ANNOUNCES SECOND QUARTER 2023 EARNINGS RELEASE DATE

Joint Venture with GIC Completes Acquisition of Residence Inn Scottsdale North Four-Hotel Portfolio Sale Completed for $28.1 Million AUSTIN, Texas , June 5, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the acquisition of the 120-guestroom Residence Inn Scottsdale North for $29.0 million through its joint venture with GIC. Additionally, the Company is providing an update on previously announced disposition activity.

SUMMIT HOTEL PROPERTIES PROVIDES TRANSACTION UPDATE

Summit Hotel Properties is a hotel REIT. About half of its properties are leased to Marriott. The first quarter was pretty good for Summit, and the full-year AFFO guidance looks promising.

Summit Hotel Properties Offers An Attractive Preferred Dividend Of 8.7%

The company reported its 2023 Q1 earnings, improving on virtually all metrics. Management declared a 50% increase in its quarterly dividends, though the payout ratio remains low.

Summit Hotel Properties: Post-Pandemic Recovery Continues

Ashford Hospitality Trust

Apple Hospitality REIT

JPMorgan BetaBuilders MSCI US REIT ETF

Braemar Hotels & Resorts Inc

Blackstone Group

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Host Hotels & Resorts

Hersha Hospitality Trust Class A

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Neuberger Berman Real Estate Securities Income Fund Inc

Park Hotels & Resorts

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

ProShares Short Real Estate

Cohen And Steers Total Return Realty Fund

Ryman Hospitality Properties

Cohen & Steers Reit And Preferred Income Fund Inc

Despite lingering recession concerns, hotel REITs are pacing for a second-straight year of outperformance after punishing early-pandemic declines, buoyed by steady post-pandemic operating improvement and the long-awaited return of dividends. The final pandemic-era travel restrictions were lifted last week with the ending of the vaccine mandate for foreign arrivals. International travel demand should provide a healthy tailwind over the coming quarters.

Hotel REITs: Pandemic Is Officially Over

AUSTIN, Texas , May 17, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") is proud to announce that it has been recognized as the Best Renovation award winner from Hyatt Hotels Corporation for its transformational renovation of the 150-guestroom Hyatt Place Across From Universal Orlando Resort™.  During the ownership conference, Hyatt leadership celebrated organizations for excellence in hotel design, development, and operational excellence over the last 1.5 years.

SUMMIT HOTEL PROPERTIES AWARDED BEST RENOVATION AT HYATT'S 2023 AMERICAS OWNERS CONFERENCE

Summit Hotel Properties, Inc. (NYSE:INN ) Q1 2023 Results Conference Call May 4, 2023 9:00 AM ET Company Participants Adam Wudel - Senior Vice President of Finance, Capital Markets and Treasurer Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Chris Woronka - Deutsche Bank Operator Good day, and thank you for standing by. Welcome to the Summit Hotel Properties, Inc. Q1 2023 Earnings Conference Call.

Summit Hotel Properties, Inc. (INN) Q1 2023 Earnings Call Transcript

Summit Hotel Properties (INN) came out with quarterly funds from operations (FFO) of $0.22 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to FFO of $0.17 per share a year ago.

Summit Hotel Properties (INN) Q1 FFO and Revenues Beat Estimates

First Quarter 2023 Pro Forma RevPAR Grows 19.3% Operating Income Increase Drives Adjusted EBITDAre Growth of 35% to $44.4 Million Common Dividend Increased 50% to an Annualized $0.24 Per Share AUSTIN, Texas , May 3, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the first quarter ended March 31, 2023. "We are pleased with our first quarter operating results as average daily rate in our pro forma portfolio reached the highest level in the Company's history, increasing 11% year-over-year and driving 19% RevPAR growth for the quarter.

SUMMIT HOTEL PROPERTIES REPORTS FIRST QUARTER 2023 RESULTS

Apollo Commercial Real Estate Finance

AvalonBay Communities

Blackstone Mortgage Trust

Boston Properties

Camden Property

Cousins Properties

Digital Realty Trust

Dynex Capital

Empire State Realty Trust

Essex Property Trust

Highwoods Properties

Kimco Realty

KKR Real Estate Finance Trust

Ladder Capital

Mid-America Apartment Communities

U.S. equity markets extended their rebound this week as a strong slate of earnings reports clashed with renewed concerns over financial instability and economic data that provided fodder for both bulls and bears. Closing at its highest levels since early February, the S&P 500 advanced 0.9%, but gains were skewed towards larger companies. The Mid-Cap 400 slipped 0.3%, and the Small-Cap 600 declined 1.0%.

Tale Of 2 Cities

AUSTIN, Texas , April 27, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the first quarter ended March 31, 2023, of $0.06 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The Company's first quarter common dividend represents an increase of $0.02 per share, or 50 percent, over the prior quarter's common dividend and an annualized dividend yield of 3.9 percent based on the closing price of shares of the common stock on April 26, 2023.

SUMMIT HOTEL PROPERTIES INCREASES COMMON DIVIDEND BY 50% AND DECLARES FIRST QUARTER 2023 DIVIDENDS

AUSTIN, Texas , March 30, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the first quarter of 2023 on Wednesday, May 3, 2023, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 4, 2023, at 9:00 AM ET.

SUMMIT HOTEL PROPERTIES ANNOUNCES FIRST QUARTER 2023 EARNINGS RELEASE DATE

Summit Hotel Properties reported its FY 2022 earnings, reporting an operating profit for the first time since the pandemic. The company is still recovering from the effects of the pandemic, and demand is picking up.

Summit Hotel Properties: (Slowly) Climbing To The Summit

Summit is paying out a 7.7% yield to owners of its preferreds who also stand to realize a 14.4% yield to call. Dividend pay-outs to common shareholders remain at a fraction of their pre-pandemic average.

Summit Hotel Properties: Swap The Commons For The 7% Yield Preferreds

Summit Hotel Properties, Inc. (NYSE:INN ) Q4 2022 Results Conference Call February 28, 2023 9:00 AM ET Company Participants Adam Wudel - Senior Vice President of Finance, Capital Markets and Treasurer Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBank Capital Market William Crow - Raymond James Michael Bellisario - Robert W. Baird Operator Good day, and thank you for standing by.

Summit Hotel Properties, Inc. (INN) Q4 2022 Earnings Call Transcript

Summit Hotel Properties (INN) delivered FFO and revenue surprises of 25% and 0.86%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Summit Hotel Properties (INN) Q4 FFO and Revenues Surpass Estimates

Fourth Quarter 2022 RevPAR Recapture Reaches New High Operating Income Triples Driving Adjusted EBITDAre Growth of 100% to $180.8 Million in 2022 Nearly $1 Billion of Strategic Acquisitions Completed in 2022 AUSTIN, Texas , Feb. 27, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the fourth quarter and full year ended December 31, 2022. "We are pleased with the continued improvement of our operating results during the fourth quarter which drove 2019 RevPAR recapture to a new quarterly high of 97% highlighted by December results that exceeded pre-pandemic levels for the first time in our pro forma portfolio.

SUMMIT HOTEL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS

AUSTIN, Texas , Feb. 23, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that its 2023 Annual Meeting of Stockholders will be held Wednesday, May 24, 2023, beginning at 8:00 a.m. Central Time.

News for Summit Hotel Properties Stock (INN)