Summit Hotel Properties Q4 net income $0.7M; full-year AFFO per share up 5.6% to $0.96

Summit Hotel Properties, Inc.

2024-FY EPS reported $0.22 revenue$731,783,000

Q4 net income $0.7M vs loss $16.6M prior year; full-year net income $25.1M vs loss $28.0M.
Full-year Adjusted FFO up 5.6% to $0.96/diluted share from $0.92; Adjusted EBITDAre $192.2M.
Pro forma RevPAR +1.4% in Q4 to $117.21; full-year +1.8% to $124.13; occupancy rose 1.2%.
Completed over $200M of accretive transactions in 2024, including $96M acquisition at 8.8% cap rate.
Pro forma hotel EBITDA margin contracted 140 bps in Q4 to 34.1% but full-year essentially flat at 35.6%.

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