secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2021-08-03T23:59:59+00:00
Accession:  0001104659-21-099492
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Hotel Q2 net loss narrows to $22.4M ($0.21/sh); RevPAR +236%, hotel EBITDA positive
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000110465921099492/0001104659-21-099492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000110465921099492/tm2117700d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-099492

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer