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

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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.

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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.

Summit Hotel Properties (INN) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

Is Summit Hotel Properties (INN) Stock a Solid Choice Right Now?

AUSTIN, Texas, Oct. 4, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has published its annual Corporate Responsibility Report for 2020, which presents the Company's ongoing commitment to the environment, its community, and stakeholders. "We are pleased to report our continued progress furthering our corporate mission focused on environmental stewardship, social responsibility, governance and resiliency," stated Jonathan Stanner, President and Chief Executive Officer.

Summit Hotel Properties Publishes Its Corporate Responsibility Report For 2020

Summit Hotel Properties (INN) is seeing positive earnings estimate revisions, suggesting that it could be a solid choice for investors.

Can Summit Hotel Properties (INN) Run Higher on Strong Earnings Estimate Revisions?

AUSTIN, Texas, Sept. 28, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the third quarter of 2021 on Wednesday, November 3, 2021, after the market closes.

Summit Hotel Properties Announces Third Quarter 2021 Earnings Release Date

Does Summit Hotel Properties (INN) have what it takes to be a top stock pick for momentum investors? Let's find out.

Summit Hotel Properties (INN) is a Great Momentum Stock: Should You Buy?

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New Preferred Stock IPOs, August 2021

AUSTIN, Texas, Aug. 9, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") is proud to announce that it has been recognized as the Renovation Excellence CONNECT 2020 award winner from Marriott International for its transformational renovation of the 189-guestroom Residence Inn by Marriott Baltimore Downtown/Inner Harbor.  The Renovation Excellence Award honors companies that completed a renovation with the highest quality standards and scope-of-work that resulted in an exemplary representation of the brand.

Summit Hotel Properties Achieves Top Accolade From CONNECT 2020 Marriott Awards

AUSTIN, Texas, Aug. 5, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today provided notice to the record holders (the "Notice of Redemption") of the Company's 6.45% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock") of the redemption, subject to completion of the Company's public underwritten offering of 5.875% Series F Cumulative Redeemable Preferred Stock (the "Series F Offering"), of all 3,000,000 of the issued and outstanding shares of Series D Preferred Stock. The cash redemption amount (the "Redemption Amount") for each share of Series D Preferred Stock is $25.00, plus accrued and unpaid dividends to, but not including, the redemption date of September 4, 2021 (the "Redemption Date").

Summit Hotel Properties, Inc. Announces Redemption of 6.45% Series D Cumulative Redeemable Preferred Stock

AUSTIN, Texas, Aug. 5, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") announced today that it has priced an underwritten public offering of 4,000,000 shares of its 5.875% Series F Cumulative Redeemable Preferred Stock (the "Series F Preferred Stock") at a public offering price of $25.00 per share, for gross proceeds of $100 million.  The Company has granted the underwriters of the offering a 30-day option to purchase up to 600,000 additional shares of Series F Preferred Stock solely to cover over-allotments, if any.

Summit Hotel Properties, Inc. Prices Public Offering of 5.875% Series F Cumulative Redeemable Preferred Stock

Summit Hotel Properties Inc. (INN) CEO Jon Stanner on Q2 2021 Results - Earnings Call Transcript

AUSTIN, Texas, Aug. 3, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the three and six months ended June 30, 2021. "Hotel demand and average daily rate steadily improved during the second quarter as RevPAR grew nearly 50% from the first quarter driven by continued strength in leisure travel and a substantial improvement in mid-week operating performance which enabled us to reach the corporate profitability milestone for the second quarter," said Jonathan P.

Summit Hotel Properties Reports Second Quarter 2021 Results

AUSTIN, Texas, July 30, 2021 /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 of $0.403125 per share of the Company's 6.45% Series D Cumulative Redeemable Preferred Stock for the dividend period ending on August 31, 2021, and a cash dividend of $0.390625 per share of the Company's 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on August 31, 2021. The dividends are payable on August 31, 2021 to holders of record as of August 16, 2021.

Summit Hotel Properties Declares Second Quarter 2021 Preferred Dividends

AUSTIN, Texas, July 12, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the previously announced acquisition of the 110-guestroom Residence Inn by Marriott Steamboat Springs for $33.0 million through its joint venture with GIC.  The Company funded its 51% interest in the joint venture acquisition using approximately $17 million of cash on-hand.

Summit Hotel Properties Completes Acquisition of Residence Inn by Marriott Steamboat Springs

AUSTIN, Texas, June 30, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the second quarter of 2021 on Tuesday, August 3, 2021, after the market closes. The Company will conduct its quarterly conference call on Wednesday, August 4, 2021, at 9:00 AM ET.

Summit Hotel Properties Announces Second Quarter 2021 Earnings Release Date

AUSTIN, Texas, June 7, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has entered into a definitive agreement to acquire the 110-guestroom Residence Inn by Marriott Steamboat Springs for $33.0 million through its joint venture with GIC.  Opened in December 2020, the newly built Residence Inn by Marriott Steamboat Springs is ideally located in close proximity to the base of Mount Werner and Gondola Square, biking and hiking trails, downtown Steamboat Springs, restaurants, shopping, and numerous other attractions.

Summit Hotel Properties Announces Pending Acquisition of Residence Inn by Marriott Steamboat Springs

Summit Hotel Properties, Inc. (INN) CEO Jonathan Stanner on Q1 2021 Results - Earnings Call Transcript

Summit Hotel Properties (INN) delivered FFO and revenue surprises of 22.22% and 1.73%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Summit Hotel Properties (INN) Reports Q1 Loss, Tops Revenue Estimates

AUSTIN, Texas, May 4, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the first quarter ended March 31, 2021. "Hotel demand, particularly leisure demand, improved significantly during the latter part of the first quarter driving March RevPAR to a new high of more than $65 since the onset of the pandemic, which exceeded February's previous high by nearly 30%," said Jonathan P.

Summit Hotel Properties Reports First Quarter 2021 Results

AUSTIN, Texas, April 30, 2021 /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 of $0.403125 per share of the Company's 6.45% Series D Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2021, and a cash dividend of $0.390625 per share of the Company's 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2021. The dividends are payable on May 28, 2021 to holders of record as of May 17, 2021.

Summit Hotel Properties Declares First Quarter 2021 Preferred Dividends

AUSTIN, Texas, April 28, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that William ("Trey") H. Conkling will join the Company as Executive Vice President & Chief Financial Officer effective May 17, 2021.

Summit Hotel Properties Names William ("Trey") H. Conkling Executive Vice President and Chief Financial Officer

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AUSTIN, Texas, April 13, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced Ms. Amina Belouizdad will be appointed to the Company's Board of Directors (the "Board") effective May 13, 2021 following the annual meeting of the Company's stockholders.

Summit Hotel Properties Appoints Independent Director

AUSTIN, Texas, March 22, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the first quarter of 2021 on Tuesday, May 4, 2021, after the market closes. The Company will conduct its quarterly conference call on Wednesday, May 5, 2021, at 9:00 AM ET.

Summit Hotel Properties Announces First Quarter 2021 Earnings Release Date

Summit Hotel Properties, Inc. (INN) CEO Jon Stanner on Q4 2020 Results - Earnings Call Transcript

Summit Hotel Properties (INN) delivered FFO and revenue surprises of -16.67% and -6.70%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

News for Summit Hotel Properties Stock (INN)