Summit Hotel Properties Inc
NYSE:INN
Summit Hotel Properties Inc
Summit Hotel Properties, Inc. is a real estate investment trust, which operates as a self-managed hotel investment company. The company is headquartered in Austin, Texas and currently employs 63 full-time employees. The company went IPO on 2011-02-09. The firm is focused on owning premium-branded, select-service hotels primarily in the upscale segment of the United States lodging industry. The firm's portfolio consists of approximately 101 hotels, 61 of which are wholly owned, with a total of approximately 15,227 guestrooms located in 24 states. The firm's hotels are located in markets, such as business and corporate headquarters, retail centers, airports, state capitols, convention centers and leisure attractions. The firm's portfolio is located in urban and suburban markets. Its hotels operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt) and InterContinental Hotels Group (IHG).
Summit Hotel Properties, Inc. is a real estate investment trust, which operates as a self-managed hotel investment company. The company is headquartered in Austin, Texas and currently employs 63 full-time employees. The company went IPO on 2011-02-09. The firm is focused on owning premium-branded, select-service hotels primarily in the upscale segment of the United States lodging industry. The firm's portfolio consists of approximately 101 hotels, 61 of which are wholly owned, with a total of approximately 15,227 guestrooms located in 24 states. The firm's hotels are located in markets, such as business and corporate headquarters, retail centers, airports, state capitols, convention centers and leisure attractions. The firm's portfolio is located in urban and suburban markets. Its hotels operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt) and InterContinental Hotels Group (IHG).
RevPAR Decline: Same-store RevPAR fell 3.7% year-over-year, primarily due to lower average daily rate and reduced government and international travel.
Expense Control: Operating expenses rose only 1.8% year-over-year, and management expects full-year growth of 1.5% to 2%.
Asset Sales & Capital Allocation: Two hotels were sold for $39 million after quarter-end, supporting debt reduction, share repurchases, and liquidity.
Strong Non-Rooms Revenue: Non-rooms revenue grew 5.6% in Q3, driven by food and beverage, resort fees, and parking.
Positive Urban Trends: Midweek and urban demand strengthened in October, offsetting ongoing softness in government business.
World Cup Tailwind: Exposure to six World Cup host cities is expected to boost 2026 performance.
Liquidity & Balance Sheet: Refinancing activity lowered borrowing costs and pushed out maturities; no major debt due until 2028.
Guidance: Q4 RevPAR expected to decline 2% to 2.5% year-over-year, with full-year RevPAR down 2.25% to 2.5%.
