Summit Hotel Q3 net loss narrows to $11M; RevPAR doubles to $97.89

Summit Hotel Properties, Inc.

2021-Q3 EPS reported -$0.66 revenue$255,064,000

Net loss of $11.0M ($0.10 per diluted share) vs $38.3M loss in Q3 2020.
Pro forma RevPAR $97.89 (+109% YoY); ADR $142.54 (+37%); occupancy 68.7%.
Adjusted EBITDAre $34.0M vs $2.5M; Adjusted FFO $0.19 per share vs ($0.10).
Announced acquisition of 27-hotel portfolio after quarter end.

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