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Summit Hotel Properties (INN)
NYSE:INN
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0Last Year’s EPS
-0.02Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: -14.83%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance and strategic acquisitions, contributing to growth in key metrics such as AFFO per share and RevPAR. The company's effective cost management and strategic capital markets activities further strengthened its financial positioning. However, challenges such as weather disruptions and specific market struggles were noted. Overall, the positive aspects of growth and strategic execution outweighed the lowlights.Company Guidance
In the 2024 earnings call for Summit Hotel Properties, the company highlighted several key metrics and strategies that demonstrated their strong performance and strategic planning for future growth. Summit reported an AFFO per share growth of nearly 6% for the year, with pro forma RevPAR growth rising by 1.8%, exceeding the industry average for the third consecutive year. The company maintained flat pro forma hotel EBITDA margins, benefiting from a controlled operating expense growth of just 1.5% per occupied room. Despite a challenging RevPAR growth environment and difficult property tax comparisons, the pro forma hotel EBITDA increased by 2% year-over-year. Summit's strategic acquisitions, such as the Hampton Inn Boston-Logan Airport and Hilton Garden Inn Tysons Corner, were executed at an attractive 8.8% capitalization rate based on net operating income. This acquisition is expected to yield a significant positive NOI and RevPAR spread compared to dispositions, resulting in a 400 basis point yield spread and a 70% RevPAR premium. The company's balance sheet was strengthened by reducing corporate leverage by nearly a full turn of EBITDA, growing adjusted EBITDA by over 6%, and increasing the common dividend by nearly 40% annually. Summit's outlook for 2025 includes expected RevPAR growth of 1% to 3% and a focus on robust group demand and business transient travel recovery, especially in urban markets. The company plans to continue high ROI capital investments and maintain a strategic approach to acquisitions and dispositions to capture long-term growth opportunities.AFFO Per Share Growth
Summit Hotel Properties achieved a full year AFFO per share growth of nearly 6% in 2024.
RevPAR Growth and Market Outperformance
For the third consecutive year, Summit's RevPAR growth exceeded the industry average, with pro forma RevPAR growth increasing 1.8% for the year.
Successful Transaction Activity
Acquisition of the Hampton Inn Boston-Logan Airport and Hilton Garden Inn Tysons Corner for $96 million with an 8.8% capitalization rate, contributing to RevPAR growth of over 6% for the two hotels in 2024.
Strong Operating Platform
RevPAR market share index increased nearly 300 basis points, and hotel EBITDA margin expanded by over 200 basis points over the last three years.
Urban and Suburban Portfolio Performance
RevPAR increased nearly 3% and 4% for urban and suburban portfolios, respectively, outperforming the total industry by 100 and 220 basis points.
Capital Market Activities and Balance Sheet Strength
Successfully refinanced a $225 million unsecured term loan, repaid $42 million Metabank loan, and drew $50 million on the credit facility, leading to a well-positioned balance sheet with leverage reduced by nearly a full turn.
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INN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 24, 2025 | $6.34 | $6.27 | -1.10% |
| Nov 04, 2024 | $6.03 | $5.91 | -1.99% |
| Jul 29, 2024 | $5.93 | $6.11 | +3.04% |
| May 01, 2024 | $5.77 | $5.88 | +1.91% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Summit Hotel Properties (INN) report earnings?
Summit Hotel Properties (INN) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Summit Hotel Properties (INN) earnings time?
Summit Hotel Properties (INN) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INN EPS forecast?
INN EPS forecast for the fiscal quarter 2025 (Q1) is 0.
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