---
schema_version: "secwatch.filing_event.v1"
accession: "0001497645-24-000009"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T08:40:17.892110+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties: FY2023 net loss $0.27/share; RevPAR up 6.6%; adjusted FFO $0.92/share

## Summary
- Full year 2023 net loss attributable to common stockholders $28.0M ($0.27/diluted share) vs $16.9M ($0.16) in 2022.
- Pro forma RevPAR +6.6% to $120.12; ADR +3.1% to $166.27; occupancy +3.4% to 72.2%.
- Adjusted EBITDAre up 5.1% to $190.0M from $180.8M; Adjusted FFO per diluted share $0.92 vs $0.94.
- Completed new $200M term loan financing; no significant debt maturities until 2026; weighted avg cost of debt ~4.75%.
- Sold six hotels in 2023 for ~$50M at 2.6% cap rate; increased common dividend 50% during year.

## SEC filing metadata
- accession: 0001497645-24-000009
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000009/0001497645-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000009/inn-20240228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001497645-24-000009
- JSON: https://secwatch.observer/filing/0001497645-24-000009.json
- Plain text: https://secwatch.observer/filing/0001497645-24-000009.txt

## Key facts
- Earnings Releases
  Summit Hotel Properties, Inc. reported the fourth quarter and year ended December 31, 2023 results: revenue $177,435, net income Net loss attributable to common stockholders was $16.6 million, or $0.16 per diluted share.
  - Period: the fourth quarter and year ended December 31, 2023
  - Revenue: $177,435
  - Net income: Net loss attributable to common stockholders was $16.6 million, or $0.16 per diluted share
  - Result: reported results
  source text: Net loss attributable to common stockholders $ (16,571) $ (11,975) $ (27,990) $ (16,929) Net loss per diluted share $ (0.16) $ (0.11) $ (0.27) $ (0.16) Total revenues $ 177,435 $ 172,326 $ 736,127 $ 675,695 EBITDAre (1) $ 56,581 $ 54,498 $ 228,882 $ 210,609 Adjusted EBITDAre (1) $ 46,384 $ 46,084 $ 189,964 $ 180,815 FFO (1) $ 24,186 $ 25,542 $ 96,778 $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000009/0001497645-24-000009-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.