Summit Hotel Properties Inc (N:INN)
Business Focus: N/A
| Sector: N/A | Industry: N/A |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | Suite B-300, 13215 Bee Cave Parkway AUSTIN TX 78738 |
| Tel: | 1-512-5382325 |
| Website: | https://www.shpreit.com |
| IR: | See website |
| Key People | ||
| Jonathan P. Stanner President, Chief Executive Officer, Director | William H. Conkling Chief Financial Officer, Executive Vice President | Christopher R. Eng Executive Vice President, Chief Risk Officer, General Counsel, Secretary | Paul Ruiz Senior Vice President, Chief Accounting Officer |
| Business Overview |
| Summit Hotel Properties, Inc. is a real estate investment trust. The Company is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 99 assets, 56 of which are wholly owned, with a total of 14,785 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. Its guestrooms operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt), and InterContinental Hotels Group (IHG). It holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Substantially, all of its assets are held by, and all of its operations are conducted through, the Operating Partnership. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Summit Hotel Properties Inc revenues increased 9% to $736.1M. Net loss applicable to common stockholders increased 65% to $28M. Revenues reflect Room revenue increase of 8% to $656.1M, Food and beverage increase of 29% to $41.5M, Other increase of 13% to $38.6M. Higher net loss reflects Interest expense increase of 32% to $86.8M (expense), Gain (loss) on disposal of assets. |
| Employees: | 78 as of Feb 9, 2024 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $2,055M as of Dec 31, 2023 |
| Annual revenue (TTM): | $736.13M as of Dec 31, 2023 |
| EBITDA (TTM): | $229.05M as of Dec 31, 2023 |
| Net annual income (TTM): | -$27.99M as of Dec 31, 2023 |
| Free cash flow (TTM): | $63.25M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,393M as of Dec 31, 2023 |
| Shares outstanding: | 107,593,373 as of Feb 9, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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