Summit Hotel Properties, Inc.
INN-PE
New York Stock Exchange17.52
USD
-0.09
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Summit Hotel Properties, Inc.
INN-PE
(New York Stock Exchange)
Recent
price
17.52
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Summit Hotel Properties, Inc. (NYSE: INN-PE) operates as a publicly traded real estate investment trust focused on owning premium-branded lodging facilities with efficient operating models primarily in the upscale segment of the lodging industry. The company owns a portfolio of 97 assets, 53 of which are wholly owned, encompassing 14,553 guestrooms across 25 states in the United States; properties predominantly feature brands such as Marriott, Hilton, Hyatt and IHG, targeting business and leisure travelers in select-service and upper-upscale categories located near corporate offices, retail centers, airports, state capitols, convention centers and leisure attractions. Summit Hotel Properties provides hotel lodging and related services including room revenue, other hotel operations, asset management, strategic property acquisition, portfolio optimization, third-party management oversight and capital improvements. Founded in 2010 with headquarters in Austin, Texas, the company serves the hotel and resort REIT sector, emphasizing upscale select-service hotels that deliver higher operating margins and lower volatility compared to full-service properties. Recent developments include the pending acquisition of a two-hotel portfolio for $96 million through a joint venture with GIC announced in December 2024; completion of a $400 million term loan refinancing for a joint venture in 2025 with potential expansion to $600 million and extension options to 2030; sale of two assets for $39.0 million at a blended cap rate of 4.3% subsequent to third-quarter 2025 results; closure of acquisitions such as the Hampton Inn Boston-Logan Airport and Hilton Garden Inn Tysons Corner in early 2025; and completion of a $154 million share repurchase program acquiring 3.585 million shares between April and June 2025.