secwatch.observer — SEC 8-K summary
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Issuer:     Summit Hotel Properties, Inc. (INN)
CIK:        0001497645
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001497645-23-000060
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Summit Hotel Q3 net loss $5.4M; RevPAR up 2.4%; raises FY23 guidance midpoint
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- Net loss attributable to common stockholders $5.4M ($0.05 per share) vs $0.5M loss in prior year.
- Pro forma RevPAR $116.91 (+2.4%), occupancy 73.4% (+2.6%), ADR $159.35 (-0.2%).
- Adjusted EBITDAre $46.3M (-1.9% YoY); Adjusted FFO $0.22 per share vs $0.25 prior.
- Full year 2023 Adjusted EBITDAre and Adjusted FFO guidance midpoint increased.
- Pro forma hotel EBITDA $62.3M (+2.6%), margin 34.3% (-25bps).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1497645/000149764523000060/0001497645-23-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1497645/000149764523000060/inn-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001497645-23-000060

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