Summit Hotel Properties ( (INN) ) has released its Q1 earnings. Here is a breakdown of the information Summit Hotel Properties presented to its investors.
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Summit Hotel Properties, Inc. is a self-managed lodging property investment company, focusing on owning lodging properties with efficient operating models, primarily operating in the real estate investment trust (REIT) sector. The company owns a diverse portfolio of 97 lodging properties across 25 states in the United States, with a significant presence in top metropolitan statistical areas and partnerships with major hotel brands like Marriott, Hilton, Hyatt, and IHG.
In its latest earnings report for the first quarter of 2025, Summit Hotel Properties reported total revenues of $184.5 million, a slight decrease from $188.1 million in the same period last year. The company recorded a net income of $623,000, down from $2.8 million in the previous year, with a net loss attributable to common stockholders of $4.7 million, compared to a loss of $2.1 million in the prior year.
Key financial highlights include a decrease in room revenue to $163.7 million from $167.4 million, while food and beverage revenue saw a slight increase to $11 million. Operating income was reported at $19.8 million, down from $23.5 million last year. The company also noted a reduction in interest expense and a nominal gain on asset disposal. Summit Hotel Properties continues to manage its debt effectively, with a total debt of $1.43 billion, maintaining a fixed-rate debt ratio of 65%.
Looking forward, Summit Hotel Properties remains focused on optimizing its portfolio and maintaining financial stability. The management is committed to strategic investments and operational efficiencies to enhance shareholder value, despite the challenging market conditions in the hospitality industry.