Summit Hotel Q3 net loss $0.5M; RevPAR recapture 95% of 2019; acquires Onera glamping asset

Summit Hotel Properties, Inc.

2022-Q3 EPS reported -$0.05 revenue$503,369,000

Net loss to common stockholders was $0.5M ($0.00/diluted), compared to $11.0M ($0.10) in Q3 2021.
Same Store RevPAR increased 24.1% to $121.21; RevPAR recapture vs 2019 reached 95% (98% in September).
Adjusted FFO was $30.9M ($0.25/diluted share), up from $20.5M ($0.19) in Q3 2021.
Completed acquisition of Onera Fredericksburg, an upscale glamping asset, expanding into experiential hospitality.
Balance sheet liquidity over $450M; limited near-term maturities; invested $23.5M in capex in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Summit Hotel Properties, Inc. reported the three months ended September 30, 2022 results: revenue $ 178,252, net income $0.5 million, EPS $0.00 per diluted share.

Period: the three months ended September 30, 2022
Revenue: $ 178,252
Net income: $0.5 million
EPS: $0.00 per diluted share
Result: reported results

Exact text from the filing

Net loss attributable to common stockholders $ (517 ) $ (10,964 ) $ (4,954 ) $ (68,439 ) Net loss per diluted share $ 0.00 $ (0.10 ) $ (0.05 ) $ (0.66 ) Total revenues $ 178,252 $ 110,686 $ 503,369 $ 255,064 EBITDA re (1) $ 54,935 $ 37,523 $ 156,111 $ 60,013 Adjusted EBITDA re (1) $ 47,218 $ 34,024 $ 134,731 $ 61,982 FFO (1) $ 28,085 $ 16,841 $ 69,711 $

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Summit Hotel Properties, Inc. reported the nine months ended September 30, 2022 results: revenue $ 503,369, net income $ (4,954 ), EPS $ (0.05 ).

Period: the nine months ended September 30, 2022
Revenue: $ 503,369
Net income: $ (4,954 )
EPS: $ (0.05 )
Result: reported results

Exact text from the filing

to common stockholders $ (517 ) $ (10,964 ) $ (4,954 ) $ (68,439 ) Net loss per diluted share $ 0.00 $ (0.10 ) $ (0.05 ) $ (0.66 ) Total revenues $ 178,252 $ 110,686 $ 503,369 $ 255,064 EBITDA re (1) $ 54,935 $ 37,523 $ 156,111 $ 60,013 Adjusted EBITDA re (1) $ 47,218 $ 34,024 $ 134,731 $ 61,982 FFO (1) $ 28,085 $ 16,841 $ 69,711 $ 9,160 Adjusted FFO

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Summit Hotel Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-113990

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