Summit Hotel Properties sees FY25 CapEx $60M-$65M

The company said, “While we remain confident in the long-term fundamentals in our portfolio, near-term results are being negatively affected by increased price sensitivity and continued macroeconomic volatility. This has created a more uncertain operating environment and a wider range of potential results than we typically observe at the midpoint of the year. Based on actual results for the first half of the year and recent portfolio trends, our performance is currently tracking modestly below the lower end of the guidance ranges we provided as part of our year-end 2024 earnings report on February 24, for full year Adjusted EBITDAre, Adjusted FFO and Adjusted FFO per share. We expect capital expenditures for full year 2025 of $60M-$65M on a pro rata basis.”