earnings
confidence high
sentiment positive
materiality 0.80
Summit Hotel Q2 net loss narrows to $22.4M ($0.21/sh); RevPAR +236%, hotel EBITDA positive
Summit Hotel Properties, Inc.
2021-Q2 EPS reported
-$0.55
revenue$144,378,000
- Net loss narrowed to $22.4M ($0.21/sh) from $54.1M loss in Q2 2020.
- RevPAR surged 235.7% to $77.88, ADR up 25.6% to $120.05, occupancy 64.9%.
- Pro forma hotel EBITDA turned positive to $25.3M (margin 29.2%) vs loss of $10.0M.
- Adjusted FFO per diluted share $0.08 vs ($0.25) in prior year.
- Acquired Residence Inn by Marriott Steamboat Springs in July 2021.