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Dec 31, 2019
Summit Hotel Properties Q4 2019 Earnings Report
Reported fourth quarter and full year results, exceeding RevPAR growth and executing opportunistic transactions.
Key Takeaways
Summit Hotel Properties announced positive results for Q4 and the full year 2019, with RevPAR growth exceeding industry benchmarks. The company completed strategic acquisitions and dispositions, enhancing its portfolio and shareholder value.
RevPAR growth exceeded both the Smith Travel Research Upscale and Total U.S. growth rates.
Gained market share as RevPAR index increased by 170 basis points.
Acquired five hotels for $276.9 million through a joint venture with GIC.
Sold ten hotels for an aggregate gross sales price of $168.4 million.
Forward Guidance
The Company is providing its outlook for the full year 2020 based on 72 hotels, 67 of which were wholly owned, as of February 25, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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