INN - Earnings announcements

First Quarter Operating Income of $14.1 Million; AFFO of $25.5 Million or $0.21 per ShareIncreased 2026 Outlook as Sequential RevPAR Improvement Results in Positive First Quarter RevPAR GrowthAccretive Capital Recycling Continues with Agreement to Sell the Courtyard and Residence Inn Dallas (Arlington South)AUSTIN, Texas, April 30, 2026 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three months ended March 31, 2026. "Operating fundamentals improved meaningfully in the first quarter as positive RevPAR growth in the quart

AUSTIN, Texas, March 25, 2026 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the first quarter of 2026 on Thursday, April 30, 2026, after the market closes. The Company will conduct its quarterly conference call on Friday, May 1, 2026, at 12:00 PM ET.To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link. A replay of the webcast will be available in the I

Accretive Capital Recycling Continues with the Sale of the Hilton Garden Inn LongviewRefinance of Convertible Notes Complete Utilizing Delayed Draw Term LoanNo Debt Maturities Until 2028AUSTIN, Texas, Feb. 25, 2026 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and twelve months ended December 31, 2025. "Demand across our portfolio stabilized in the fourth quarter, with RevPAR growth improving 240 basis points sequentially, despite continued headwinds created by lower international inbound travel and reduced govern

AUSTIN, Texas, Jan. 12, 2026 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2025 on Wednesday, February 25, 2026, after the market closes. The Company will conduct its quarterly conference call on Thursday, February 26, 2026, at 10:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webc

Completed Sale of Two Assets for $39.0 million at Blended Cap Rate of 4.3 percent Subsequent to Quarter End Completed Refinancing of $400 Million NCI Term Loan at Accretive Pricing to Further Strengthen Balance Sheet AUSTIN, Texas, Nov. 4, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and nine months ended September 30, 2025. "Operating fundamentals in the third quarter remained relatively stable compared to the trends we observed in the second quarter, as reduced government demand and slower international

AUSTIN, Texas, Sept. 23, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the third quarter of 2025 on Tuesday, November 4, 2025, after the market closes. The Company will conduct its quarterly conference call on Wednesday, November 5, 2025, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link. A replay of the webcast will be availab

Second Quarter Operating Income of $22.7 Million; AFFO of $32.7 Million or $0.27 per Share Repurchased 3.6 Million Shares for $15.4 Million, an Average of $4.30 per Share Completed Two Significant Debt Financings to Extend Maturity Dates and Enhance Corporate Liquidity AUSTIN, Texas, Aug. 5, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and six months ended June 30, 2025. "Despite a challenging operating backdrop in the second quarter, we continued to successfully execute on a number of key strategic priori

AUSTIN, Texas, June 24, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the second quarter of 2025 on Tuesday, August 5, 2025, after the market closes. The Company will conduct its quarterly conference call on Wednesday, August 6, 2025, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link. A replay of the webcast will be available i

Same Store RevPAR Increased 1.5% Completed $275 Million Delayed Draw Term Loan Financing; Proceeds to Fund February 2026 Convertible Notes Maturity $50 Million Share Repurchase Program Authorized AUSTIN, Texas, April 30, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three months ended March 31, 2025. "Our same-store portfolio RevPAR increased 1.5% during the first quarter and hotel EBITDA margin contracted less than 50 basis points compared to the prior year, reflecting our ability to effectively manage expenses in a low revenue growth environment. During the quarter, we also closed on a favorable $275 million term loan facili

AUSTIN, Texas, March 26, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the first quarter of 2025 on Wednesday, April 30, 2025, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 1, 2025, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be available in

Full Year Operating Income Increases to $103.5 million Full Year Adjusted EBITDAre Grows to $192.2 million; AFFO increases 5.6% to $0.96 per share Completed Over $200 Million of Accretive Transaction Activity in 2024 AUSTIN, Texas, Feb. 24, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and twelve months ended December 31, 2024. "We are pleased with our fourth quarter and full-year 2024 financial results, driven by pro forma RevPAR growth that exceeded industry average growth for the third consecutive year,

AUSTIN, Texas, Jan. 9, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2024 on Monday, February 24, 2025, after the market closes. The Company will conduct its quarterly conference call on Tuesday, February 25, 2025, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast wi

Four Points San Francisco Airport Hotel Sold for $17.7 Million Subsequent to Quarter-End AUSTIN, Texas, Nov. 4, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and nine months ended September 30, 2024. "We are pleased with our third quarter financial results highlighted by our third consecutive quarter of Adjusted FFO growth as our accretive capital recycling program strategy offset moderate top-line growth in the quarter, that was negatively affected by disruption from Hurricane Helene in September in severa

AUSTIN, Texas, Sept. 23, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the third quarter of 2024 on Monday, November 4, 2024, after the market closes. The Company will conduct its quarterly conference call on Tuesday, November 5, 2024, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be available

Net Income Increases to $30.8 Million for Second Quarter 2024 Adjusted EBITDAre Grows 6% to Reach All-Time Quarterly Record High of $55.9 Million Adjusted FFO Increases 10% to $0.29 per Share AUSTIN, Texas, July 29, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and six months ended June 30, 2024. "We are pleased with our strong second quarter financial results as year-over-year RevPAR growth of 3.4% in our pro forma portfolio exceeded the national average for the thirteenth consecutive quarter.  Our top lin

AUSTIN, Texas, June 24, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the second quarter of 2024 on Monday, July 29, 2024, after the market closes. The Company will conduct its quarterly conference call on Tuesday, July 30, 2024, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be available in th

Operating Income of $23.5 million for First Quarter 2024 Adjusted EBITDAre Grows 10% to $48.8 million; Adjusted FFO Increases 14% to $0.24 per Share Sale of Three Hotels for $84.0 Million Further Deleverages Balance Sheet Subsequent to Quarter End Common Dividend Increased 33% to Annualized $0.32 per Share AUSTIN, Texas, May 1, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three months ended March 31, 2024. "We are pleased with our strong first quarter financial results, highlighted by 10 percent Adjusted EBITDAr

AUSTIN, Texas, March 26, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the first quarter of 2024 on Wednesday, May 1, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 2, 2024, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link. A replay of the webcast will be available in the

Operating Income of $58.8 Million for Full Year 2023 Adjusted EBITDAre Climbs 5.1 Percent to $190.0 Million; Adjusted FFO Per Share of $0.92 for Full Year 2023 Accretive Dispositions Continue with Sale of Two Additional Hotels New $200 Million Term Loan Financing Completed; No Significant Debt Maturities Until 2026 AUSTIN, Texas, Feb. 28, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the fourth quarter and full year ended December 31, 2023. "We are proud of the Company's many successes in 2023, led by RevPAR growth o

AUSTIN, Texas, Jan. 4, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2023 on Wednesday, February 28, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, February 29, 2024, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link. A replay of the webcast

AUSTIN, Texas, Sept. 26, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the third quarter of 2023 on Wednesday, November 1, 2023, after the market closes. The Company will conduct its quarterly conference call on Thursday, November 2, 2023, at 1:00 PM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be avail

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. Our revenue management efforts yielded significant mark

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. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be availabl

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

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. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be available in th

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. The strong fourth quarter c

AUSTIN, Texas, Jan. 10, 2023 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2022 on Monday, February 27, 2023, after the market closes. The Company will conduct its quarterly conference call on Tuesday, February 28, 2023, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast w

Same Store RevPAR Increases 24%; 2019 RevPAR Recapture Reaches New Quarterly High of 95% Acquisition of High-End Glamping Asset Onera Fredericksburg Completed AUSTIN, Texas, Nov. 2, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and nine months ended September 30, 2022. "We are pleased with the continued improvement of our operating results during the quarter as same store RevPAR recapture relative to 2019 reached a new quarterly high of 95% driven by strong pricing power and improving business transient, mi

AUSTIN, Texas, Sept. 20, 2022  /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the third quarter of 2022 on Wednesday, November 2, 2022, after the market closes. The Company will conduct its quarterly conference call on Thursday, November 3, 2022, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be avai

Same Store RevPAR Increases 63%; 2019 RevPAR Recapture Reaches New Quarterly High of 94% Accretive Transaction Activity Completed with Miami Brickell Acquisition and San Francisco Hilton Garden Inn Sale Reinstatement of Quarterly Common Dividend Announced AUSTIN, Texas, August 2, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and six months ended June 30, 2022. "Our operating results continued to improve meaningfully during the quarter driven by robust leisure demand and the accelerating recovery of corporat

AUSTIN, Texas, July 7, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the second quarter of 2022 on Tuesday, August 2, 2022, after the market closes. The Company will conduct its quarterly conference call on Wednesday, August 3, 2022, at 9:00 AM ET. 1. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details. 2. A live webcast of the conference call can be accessed using this link.  A replay of the webcast will be avai

Pro Forma RevPAR Increases 78%; 2019 RevPAR Recapture Rate Reaches New Quarterly High Completed the Acquisition of $822 Million 27-Hotel NewcrestImage Portfolio Accretive Transaction Activity Continues with Pending Acquisition of AC Hotel by Marriott & Element Miami Brickell and Pending Sale of Hilton Garden Inn San Francisco Airport North AUSTIN, Texas, May 3, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the first quarter ended March 31, 2022. "Our operating results continue to improve as we have begun to see a mor

AUSTIN, Texas, March 30, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the first quarter of 2022 on Tuesday, May 3, 2022, after the market closes. The Company will conduct its quarterly conference call on Wednesday, May 4, 2022, at 9:00 AM ET.  To participate in the conference call, please follow the steps below: On May 4, 2022, dial 877-930-8101 approximately ten minutes before the call begins (8:50 AM ET).Enter conference identification code 3183004.Please state your full name and compa

AUSTIN, Texas, Feb. 23, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the fourth quarter and full year ended December 31, 2021. "We continued to be pleased with the improvement in operating fundamentals during the fourth quarter, which drove portfolio-wide RevPAR to its highest level relative to 2019 since the onset of the pandemic and more than double from a year ago.  Strong leisure demand continued to lead our results driven by average daily rate which continued to improve sequentially, finishing December higher t

AUSTIN, Texas, Jan. 5, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2021 on Wednesday, February 23, 2022, after the market closes. The Company will conduct its quarterly conference call on Thursday, February 24, 2022, at 9:00 AM ET.  To participate in the conference call, please follow the steps below: On February 24, 2022, dial 877-930-8101 approximately ten minutes before the call begins (8:50 AM ET). Enter conference identification code 9455418. Pl

AUSTIN, Texas, Nov. 3, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company" or "Summit") today announced that it has entered into a definitive contribution and purchase agreement to acquire a 27-hotel portfolio totaling 3,709 guestrooms, two parking structures and various financial incentives through its existing joint venture with GIC for total consideration of $822 million (the "Transaction") from affiliates of NewcrestImage.  The total consideration for the Transaction is comprised of $776.5 million, or $209,000 per key, for the 27-hotel portfolio, $24.8 million for the two parking structures and $20.7 million for the various financial incentives.

AUSTIN, Texas, Nov. 3, 2021 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company"), today announced results for the three and nine months ended September 30, 2021. "We were pleased with the continued improvement in operating fundamentals during the third quarter which drove portfolio wide occupancy to nearly 70% and RevPAR to nearly $100, more than a 25% increase over the second quarter. While demand predictably slowed as the summer travel season concluded, we began to see a reacceleration of demand in the latter part of the quarter driven increasingly by imp

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. The Company will conduct its quarterly conference call on Thursday, November 4, 2021, at 9:00 AM ET.  To participate in the conference call, please follow the steps below: On November 4, 2021, dial 877-930-8101 approximately ten minutes before the call begins (8:50 AM ET). Enter conference identification code 6195606. Please state your

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. Stanner, the Company's President and Chief Executive Officer