Summit Hotel Properties experienced a challenging second quarter in 2025, reporting a net loss of $1.612 million and a decrease in total revenues to $192.917 million. Despite a decline in RevPAR and Hotel EBITDA, the company focused on strategic financial initiatives, including significant debt refinancings to extend maturity dates and enhance liquidity, and repurchased 3.6 million shares for $15.4 million.
The company reported a net loss attributable to common stockholders of $1.612 million for Q2 2025, a significant decline from a net income of $30.849 million in Q2 2024.
Total revenues for the quarter decreased slightly to $192.917 million from $193.903 million in the prior year's quarter.
Adjusted FFO per diluted share was $0.27, down from $0.29 in the same period last year.
Summit Hotel Properties repurchased 3.6 million common shares for $15.4 million and completed two significant debt financings, extending debt maturities until 2028 and increasing corporate liquidity to over $310 million.
The company expects full-year 2025 performance to track modestly below the lower end of previously provided guidance ranges for Adjusted EBITDAre, Adjusted FFO, and Adjusted FFO per share, due to increased price sensitivity and macroeconomic volatility. Capital expenditures for full year 2025 are projected to be between $60 million and $65 million.
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