Overview

* Summit Hotel Q2 revenue misses analyst expectations, totaling $192.9 mln

* Company repurchased 3.6 mln shares for $15.4 mln in Q2

* Summit Hotel completed debt financings, extending maturity dates to 2028

Outlook

* Company expects 2025 capital expenditures of $60 mln to $65 mln

* Cos performance is tracking below lower end of full-year guidance

* Company cites increased price sensitivity affecting near-term results

* Macroeconomic volatility creating uncertain operating environment

Result Drivers

* REVPAR DECLINE - Same store RevPAR fell 3.6% due to tough comparisons with last year's special event-driven demand

* OCCUPANCY STABILITY - Absolute occupancy reached near-record highs, indicating stable demand across the portfolio

* DEBT REFINANCING - Completed two financings to extend debt maturities and enhance liquidity, with no maturities until 2028

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $192.92 $195.10

Revenue mln mln (5

Analysts

)

Q2 EPS -$0.02

Q2 Net -$1.61

Income mln

Q2 $0.27

Adjusted

FFO Per

Share

Q2 FFO $0.22

Per

Share

Q2 Hotel 35.5%

EBITDA

Margin

Q2 $128.79

RevPAR

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialized reits peer group is "hold"

* Wall Street's median 12-month price target for Summit Hotel Properties Inc ( INN ) is $6.38, about 20.6% above its August 4 closing price of $5.06

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)