secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001104659-22-113990
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922113990/0001104659-22-113990-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000110465922113990/tm2229485d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-113990

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