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Dec 31, 2020
Summit Hotel Properties Q4 2020 Earnings Report
Summit Hotel Properties reported stable hotel demand during the fourth quarter, leading to hotel-level profitability for the second consecutive quarter and positive Adjusted EBITDAre for the full year.
Key Takeaways
Summit Hotel Properties announced Q4 2020 results, highlighting stable hotel demand and hotel-level profitability for the second consecutive quarter. The company also completed a second amendment to its credit facilities, providing covenant waivers through March 31, 2022, and enhanced liquidity through a convertible notes offering.
Hotel demand remained stable during the fourth quarter.
The company achieved hotel-level profitability for the second consecutive quarter.
A second amendment to revolving and term loan credit facilities was successfully completed.
Liquidity was enhanced through a $287.5 million convertible notes offering.
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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