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Summit Hotel Properties (INN) investor relations material
Summit Hotel Properties Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 results showed stable operations with a net loss of $11.3M, flat revenues at $177.1M, and disciplined expense management amid challenging market conditions, including reduced government and international travel.
Portfolio consisted of 97 properties (14,577 guestrooms) in 25 states, with 86% of rooms in top 50 MSAs and over 99% under premium brands; focus remains on efficient operations and investment returns.
Completed the sale of two hotels post-quarter for $39M, reducing debt, funding share repurchases, and enhancing liquidity.
Share repurchases executed, with 3.6M shares bought for $15.4M under a $50M program; stock up 20% since buyback.
Elected REIT status, with all properties leased to taxable REIT subsidiaries and managed by third parties.
Financial highlights
Q3 2025 same-store RevPAR declined 3.7% to $115.77, ADR down 3.4% to $157.62, and occupancy nearly flat at 73.5%.
Adjusted EBITDAre was $39.3M (down from $45.3M); adjusted FFO was $21.3M ($0.17/share, down from $0.22/share).
Hotel EBITDA margin for Q3 2025 was 30.6%, down 351 bps year-over-year.
Non-rooms revenue grew 5.6% in Q3 and 4.3% year to date.
Operating expenses increased less than 2% in Q3 and just over 1.5% year-to-date.
Outlook and guidance
Q4 2025 RevPAR expected to decline 2% to 2.5% year-over-year, with full-year capex projected at $60–$65M.
Operating expense growth for the full year expected at 1.5% to 2%.
No significant debt maturities until 2028; $287.5M convertible notes to be refinanced with delayed draw term loan.
Long-term outlook remains positive, with minimal new supply growth and major events expected to boost demand in 2026.
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