secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001104659-22-085236
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Hotel Properties Q2: net income $7.9M (EPS $0.07); RevPAR up 63% YoY; dividend reinstated
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- Net income attributable to common stockholders was $7.9M ($0.07 diluted EPS) vs ($22.4M) ($0.21) in Q2 2021.
- Same Store RevPAR up 62.7% to $127.44; ADR exceeded 2019 levels by 2% in Q2, 5% in June.
- Pro forma Hotel EBITDA $70.7M (37.8% margin) vs $36.5M (31.4%); Adjusted FFO $0.27/share vs $0.08.
- Company reinstated quarterly common dividend; total liquidity ~$500M, debt maturity profile favorable.
- Completed nearly $1B in YTD transactions, including Miami Brickell acquisition and SF Hilton Garden Inn sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922085236/0001104659-22-085236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922085236/tm2222345d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-085236

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