Summit Hotel Properties sees Q4 RevPAR growth (2.0%)-(2.5%)

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. We currently expect Q4 RevPAR growth to range from (2.0%)-(2.5%) as operating trends reflect sequential improvement from the second and third quarters of this year. We expect capital expenditures for FY25 of $60M-$65M on a pro rata basis.”