---
schema_version: "secwatch.filing_event.v1"
accession: "0001497645-24-000044"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:42:56.537160+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties Q1 net loss narrows to $2.1M; dividend raised 33% to $0.32

## Summary
- RevPAR up 1.5% to $124.18; Hotel EBITDA margin expanded 81 bps to 36.5%.
- Adjusted FFO per share up 14% to $0.24; Adjusted EBITDAre up 9.8% to $48.8M.
- Sold three hotels for $84.0M at 6.8% cap rate; proceeds to deleverage balance sheet.
- Common dividend increased 33% to annualized $0.32 per share.
- Updated 2024 guidance: Adjusted EBITDAre and Adjusted FFO raised.

## SEC filing metadata
- accession: 0001497645-24-000044
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000044/0001497645-24-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000044/inn-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001497645-24-000044
- JSON: https://secwatch.observer/filing/0001497645-24-000044.json
- Plain text: https://secwatch.observer/filing/0001497645-24-000044.txt

## Key facts
- Earnings Releases
  Summit Hotel Properties, Inc. reported financial results for three months ended March 31, 2024.
  - Period: three months ended March 31, 2024
  - Result: reported results
  source text: On May 1, 2024, Summit Hotel Properties, Inc. (the “Company”) issued a press release announcing the operating results of the Company and its subsidiaries for the three months ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1497645/000149764524000044/0001497645-24-000044-index.htm

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