Summit Hotel Properties, Inc.
INN-PF
New York Stock Exchange17.05
USD
+0.10
- -
CIK
0001497645
ISIN
US8660827044
CUSIP
866082704
Return %
Stock
S&P500
1Y
-5.01
19.01
3Y
-6.01
65.48
5Y
-31.42
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Jonathan Stanner
- Full Time Employees
- 78
- Sector
- Real Estate
- Industry
- REIT - Hotel & Motel
- Address
- 13215 Bee Cave Parkway Austin TX United States of America 78738
- IPO Date
- Aug 6, 2021
- CIK
- 0001497645
- Website
- shpreit.com
- Similar Companies
- Business
- Summit Hotel Properties, Inc. is a publicly traded real estate investment trust specializing in the ownership of premium-branded lodging facilities primarily in the upscale segment of the lodging industry. The company operates a diversified portfolio consisting of 95 hotel assets with 14,347 guestrooms located in 24 states across the United States. Its core products and services include ownership and leasing of upscale hotels affiliated with premium brands such as Marriott International, Hilton Worldwide, and Hyatt Hotels Corporation. Summit's portfolio comprises various hotel categories including full-service upscale and select-service hotels, with major brands under long-term franchise agreements including Marriott, Hilton, Hyatt, and others. The company generates revenue through property operations, leasing arrangements, and strategic partnerships with hotel management companies. In recent major changes, Summit Hotel Properties has actively pursued growth through accretive acquisitions and portfolio optimization. In late 2024, Summit completed the acquisition of two premium-branded hotels—the 250-guestroom Hampton Inn Boston-Logan Airport and the 149-guestroom Hilton Garden Inn Tysons Corner—for a combined $96 million through its joint venture with GIC. This acquisition was part of a broader capital allocation strategy supported by approximately $150 million in asset sales of lower RevPAR properties, aimed at enhancing the portfolio’s quality and growth prospects. The company also completed a $275 million senior unsecured term loan refinancing in early 2025, extending debt maturities and strengthening its balance sheet. Furthermore, Summit continues to invest in capital improvements and renovations across its portfolio to boost property value and guest experience. The company also explores new business expansions, such as a strategic partnership to expand into glamping resorts, reflecting a broadened operational scope within lodging alternatives. Founded in 1998 and headquartered in Austin, Texas, Summit Hotel Properties operates primarily in the United States with a focus on urban and gateway city submarkets. The company maintains its portfolio through a combination of wholly owned properties and joint ventures, including a significant partnership with Singapore-based GIC, which has contributed to much of its acquisition activity since 2019. Summit targets business and leisure travelers looking for upscale lodging options through well-known hotel brands and emphasizes asset quality, geographic diversification, and operational efficiency to drive long-term growth and value creation. Summit Hotel Properties operates within the real estate investment trust (REIT) industry segment focused on lodging, with customers including hotel franchise companies and travelers across diverse U.S. markets. The company’s operational strategy centers on acquiring and managing high-quality hotel properties that generate stable cash flow and opportunities for capital appreciation. The portfolio’s broad brand affiliations and extensive franchise agreements position the company competitively within the upscale lodging sector. Overall, Summit Hotel Properties maintains a comprehensive portfolio of upscale hotels under recognized brands, has recently expanded through strategic acquisitions and refinancing activities to optimize financial structure, and is evolving through diversification efforts such as entry into alternative lodging experiences like glamping.