Summit Hotel Properties Q2 net loss $0.8M; pro forma RevPAR up 3.5% to $127.06

Summit Hotel Properties, Inc.

2023-Q2 EPS reported -$0.06 revenue$376,876,000

Net loss attributable to common stockholders of $0.8M ($0.01 per share) vs net income of $7.9M in Q2 2022.
Pro forma RevPAR increased 3.5% to $127.06; ADR up 1.9% to $168.33; occupancy up 1.6% to 75.5%.
Adjusted FFO was $33.2M ($0.27 per share), flat compared to $0.27 in Q2 2022.
Acquired The Nordic Lodge in Steamboat Springs through GIC joint venture; no deal value disclosed.
Same Store Hotel EBITDA margin contracted 138 bps to 37.1%, and Adjusted EBITDAre fell 3.1% to $52.9M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Summit Hotel Properties, Inc. reported financial results for three and six months ended June 30, 2023.

Period: three and six months ended June 30, 2023
Result: reported results

Exact text from the filing

On August 2, 2023, Summit Hotel Properties, Inc. (the “Company”) issued a press release announcing the operating results of the Company and its subsidiaries for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001104659-23-086829

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