Welcome to our dedicated page for Summit Hotel Pptys news (Ticker: INN), a resource for investors and traders seeking the latest updates and insights on Summit Hotel Pptys stock.
Summit Hotel Properties, Inc. (NYSE: INN), a real estate investment trust specializing in premium-branded upscale hotels, provides investors and industry observers with critical updates through this centralized news hub. This page aggregates official press releases, financial disclosures, and market analyses related to the company’s portfolio management and lodging sector activities.
Users gain streamlined access to essential updates including quarterly earnings reports, asset acquisition announcements, and operational strategy shifts. The curated collection serves analysts tracking REIT performance metrics and hospitality professionals monitoring industry consolidation trends.
Content spans capital recycling initiatives, brand partnership developments, and geographic expansion updates, reflecting Summit’s focus on high-quality urban lodging assets. Bookmark this resource for efficient tracking of the company’s evolving position within the competitive hotel REIT landscape.
Summit Hotel Properties (NYSE: INN) has declared its first quarter 2025 dividends. The company announced a cash dividend of $0.08 per share of common stock and per common unit of partnership interest, representing an annualized dividend yield of 8.2% based on April 23, 2025 closing price.
The company also declared preferred stock dividends:
- $0.390625 per share for 6.25% Series E Cumulative Redeemable Preferred Stock
- $0.3671875 per share for 5.875% Series F Cumulative Redeemable Preferred Stock
- $0.328125 per unit for 5.25% Series Z Cumulative Perpetual Preferred Units
All dividends are payable on May 30, 2025, to holders of record as of May 16, 2025.
Summit Hotel Properties (NYSE: INN) has secured a new $275 million senior unsecured term loan with a maturity date of March 2030, including two one-year extension options. The loan will primarily be used to repay the company's outstanding $287.5 million 1.50% Convertible Senior Notes due in February 2026.
The Term Loan features a delayed draw option through March 1, 2026, allowing the company to maintain the 1.50% interest rate on existing notes. Pricing ranges from 135 to 235 basis points over adjusted Term SOFR rate, with initial pricing at SOFR plus 190 basis points. An accordion feature allows for up to $50 million in additional commitments.
Following this refinancing, Summit's average debt maturity extends to nearly four years, with no significant debt maturities until 2027. The company maintains approximately $320 million of pro rata total liquidity and roughly 77% pro rata fixed interest rate debt and preferred equity capital.
Summit Hotel Properties (NYSE: INN) has scheduled its first quarter 2025 financial results announcement for Wednesday, April 30, 2025, after market close. The company will host a conference call to discuss the results on Thursday, May 1, 2025, at 9:00 AM ET.
Summit Hotel Properties is a real estate investment trust specializing in premium-branded lodging facilities in the upscale segment. As of March 26, 2025, the company's portfolio comprises 97 assets, including 53 wholly-owned properties, with a total of 14,554 guestrooms across 25 states.
Summit Hotel Properties (NYSE: INN) reported its Q4 and full-year 2024 results, showing improved performance with full-year operating income reaching $103.5 million. The company's Adjusted FFO increased 5.6% to $0.96 per share in 2024, while Adjusted EBITDAre grew to $192.2 million.
In Q4 2024, the company completed significant acquisitions through its joint venture with GIC, including the Hampton Inn Boston-Logan Airport and Hilton Garden Inn Tysons Corner for $96 million, representing an 8.8% net capitalization rate. The company's pro forma RevPAR increased 1.8% to $124.13 for the full year 2024.
The company completed over $200 million in transaction activity in 2024, including selling five hotels for nearly $112 million. As of December 31, 2024, Summit had outstanding debt of $1.1 billion with a weighted average interest rate of 4.55% and total liquidity of approximately $350 million.
Summit Hotel Properties (NYSE: INN) has announced its 2025 Annual Meeting of Stockholders will be held on Wednesday, May 21, 2025, at 8:00 a.m. Eastern Time. The meeting will take place at the Courtyard by Marriott Oceanside Fort Lauderdale Beach in Florida and is open to stockholders of record as of March 5, 2025.
The company, a publicly traded real estate investment trust, focuses on owning premium-branded lodging facilities in the upscale segment. As of February 19, 2025, Summit's portfolio comprises 97 assets, with 53 wholly owned properties, totaling 14,553 guestrooms across 25 states.
Summit Hotel Properties (NYSE: INN) has declared its dividends for Q4 2024. The company will pay a cash dividend of $0.08 per share of common stock and per common unit of partnership interest, representing an annualized dividend yield of 4.8% based on the January 22, 2025 closing price.
The company also declared dividends for its preferred stocks: $0.390625 per share for the 6.25% Series E and $0.3671875 per share for the 5.875% Series F Cumulative Redeemable Preferred Stock. Additionally, a distribution of $0.328125 per unit was declared for the operating partnership's 5.25% Series Z Preferred Units. All dividends are payable on February 28, 2025, to holders of record as of February 14, 2025.
Summit Hotel Properties (NYSE: INN) has scheduled its Q4 and full-year 2024 earnings release for Monday, February 24, 2025, after market close. The company will host its quarterly conference call on Tuesday, February 25, 2025, at 9:00 AM ET.
The company, a publicly traded REIT specializing in premium-branded lodging facilities in the upscale segment, currently manages a portfolio of 97 assets. Of these, 53 are wholly owned, comprising 14,553 guestrooms across 25 states as of January 9, 2025.
Summit Hotel Properties (NYSE: INN) has announced, through its joint venture with GIC, the pending acquisition of two hotels for $96.0 million: the 250-room Hampton Inn Boston - Logan Airport and the 149-room Hilton Garden Inn Tysons Corner. The purchase price of $241,000 per key represents an 8.8% capitalization rate based on forecasted 2024 net operating income.
The transaction will be financed through a mix of cash and a $50 million term loan with an interest rate of SOFR + 210 basis points. The Company's 51% share ($24 million) will be funded primarily from the recent Four Points by Sheraton San Francisco Airport sale proceeds. The acquisition is expected to close in Q4 2024, with no significant capital expenditures planned before Q4 2026.
Summit Hotel Properties (NYSE: INN) reported Q3 2024 results with a net loss of $4.3 million ($0.04 per share). Key metrics include: Pro forma RevPAR increased 0.1% to $120.02, Adjusted FFO grew 4.0% to $27.6 million ($0.22 per share), and Pro forma hotel EBITDA decreased 2.9% to $59.7 million. The company sold Four Points San Francisco Airport for $17.7 million post-quarter. Year-to-date, Adjusted FFO per share increased by 8%, driven by 4.5% growth in Adjusted EBITDA. The company revised its 2024 outlook, maintaining Adjusted FFO guidance while slightly lowering Adjusted EBITDAre expectations due to hurricane disruptions.
Summit Hotel Properties (NYSE: INN) has declared its third quarter 2024 dividends. The company announced a cash dividend of $0.08 per share of common stock and per common unit, representing an annualized dividend yield of 5.2%. Additionally, the company declared dividends for its preferred stocks: $0.390625 per share for Series E (6.25%), $0.3671875 per share for Series F (5.875%), and $0.328125 per unit for Series Z (5.25%) preferred units. All dividends will be paid on November 29, 2024, to shareholders of record as of November 15, 2024.
