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Sep 30, 2022
Summit Hotel Properties Q3 2022 Earnings Report
Reported third quarter 2022 results with same store RevPAR increasing 24% and 2019 RevPAR recapture reaching a new quarterly high of 95%.
Key Takeaways
Summit Hotel Properties announced improved operating results for Q3 2022, with same store RevPAR recapture relative to 2019 reaching 95%. September RevPAR recapture was 98%, a monthly high since the pandemic's onset, and hotel EBITDA margins expanded nearly 200 basis points compared to 2019. The company also acquired the Onera Fredericksburg glamping asset and enhanced its balance sheet.
Same store RevPAR recapture relative to 2019 reached a new quarterly high of 95%.
September RevPAR recapture of 98% was a monthly high since the onset of the pandemic.
Hotel EBITDA margins expanded nearly 200 basis points compared to the same period of 2019.
Acquisition of High-End Glamping Asset Onera Fredericksburg Completed
Historical Earnings Impact
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Avg. Return Before/After Earnings
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