Earnings ·
Summit Hotel Properties reported second quarter 2026 results showing a return to profitability with net income…
INN-PESummit Hotel Properties, Inc.
Summit Hotel Properties reported second quarter 2026 results showing a return to profitability with net income attributable to common stockholders of $3.9 million, or $0.04 per diluted share, compared to a loss in the prior year period. Pro forma RevPAR increased 5.0% to $136.06, driven by a 7.1% rise in average daily rates, while pro forma hotel EBITDA grew 7.8% to $72.5 million and Adjusted FFO rose 6.7% to $0.29 per diluted share. The company refinanced its senior credit facility to $650 million with a June 2031 maturity, reduced interest spreads on existing debt, and sold two Dallas hotels for $19.0 million in July. Management raised full-year 2026 guidance ranges for Adjusted EBITDAre, Adjusted FFO, and RevPAR growth based on improved operating trends. Summit Hotel Properties operates as a real estate investment trust focused on owning premium-branded lodging facilities primarily in the upscale segment of the hospitality industry.