UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Summit Hotel Properties, Inc. (NYSE:INN) Q2 2022 Earnings Conference Call August 3, 2022 9:00 AM ET Company Participants Adam Wudel - SVP of Finance, Capital Markets and Treasurer Jon Stanner - President & CEO Trey Conkling - EVP & CFO Conference Call Participants Neil Malkin - Capital One Chris Woronka - Deutsche Bank Austin Wurschmidt - KeyBanc Capital Markets. Michael Bellisario - Baird Bill Crow - Raymond James Operator Thank you for standing by, and welcome to Summit Hotel Properties Second Quarter Fis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Financial Data and Key Metrics Changes - The company reported a pro forma RevPAR increase of approximately 78% from Q1 2021, driven by a 21% increase in occupancy and a 47% increase in ADR [9][32] - First quarter RevPAR reached $87 for the urban portfolio, with March and April RevPAR at $113 and $120 respectively, marking a 7% and 14% premium to the previous pandemic monthly high [23][24] - Pro forma hotel EBITDA for Q1 was $47.3 million, a 200% increase from Q1 2021, resulting in a 33% margin, nearly 13 percentage points higher than the previous year [32] Business Line Data and Key Metrics Changes - The urban portfolio saw significant growth, particularly in mid-week occupancy driven by corporate and group travel, with preliminary April occupancy at approximately 70% [8][11] - Non-urban hotels reported a Q1 RevPAR of $106, with resort hotels achieving a RevPAR of $183 due to strong spring break demand [26][27] - The company anticipates a combined hotel EBITDA yield of 8% to 9% for the newly acquired hotels in Miami and San Francisco [17] Market Data and Key Metrics Changes - RevPAR in March reached a pandemic era high of over $120, a 61% increase from January results, indicating strong recovery trends [7] - Preliminary April pro forma RevPAR was expected to be $119, approximately 90% of 2019 levels, despite entering slower seasonal periods for some markets [10] - The company noted that weekday pro forma RevPAR increased significantly, achieving $113 and $110 in March and April respectively, both over 20% higher than the previous pandemic peak [12] Company Strategy and Development Direction - The company is focused on opportunistic capital allocation, having executed approximately $1 billion in transactions since July 2021, with a strategy to identify and execute accretive transactions [21] - The company plans to close on the sale of the Hilton Garden Inn in San Francisco for $75 million, which will allow it to avoid a $7 million renovation [14][36] - The management emphasized the uniqueness of their mezzanine lending program, which allows for capturing better risk-adjusted returns without taking on outright development risk [17][58] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery trajectory, noting that pricing power remained strong in March and April, with no significant pushback from customers despite rising inflation [56] - The company expects continued improvement in weekday demand and strong performance during the summer season, with May and June recapture rates anticipated to be in line or better than April [13] - Management highlighted that the balance sheet remains robust, with over $450 million in liquidity and a well-positioned interest rate risk management strategy [39] Other Important Information - The company plans to invest $60 million to $80 million in capital expenditures for 2022, focusing on renovations across 13 hotels [34][41] - The company reported an adjusted FFO of $20.1 million for Q1, an increase of $27.1 million from Q1 2021 [33] Q&A Session Summary Question: Performance of Newcrest portfolio - Management indicated that the Newcrest portfolio is tracking slightly ahead of underwriting, with expectations of a 7% EBITDA yield for the full year [47] Question: Balance sheet and deleveraging strategy - Management discussed plans to use proceeds from the San Francisco asset sale to pay down debt, aiming for a more normalized debt to EBITDA ratio [49][50] Question: Impact of inflation on leisure travelers - Management noted no significant signs of pushback from customers regarding rising hotel rates, maintaining strong pricing power [56] Question: Future appetite for mezzanine investments - Management expressed a positive outlook on the mezzanine lending program, indicating a willingness to explore more opportunities despite current market challenges [58] Question: Differences in recovery pace among brand families - Management clarified that recovery differences are more market-driven rather than brand-driven, with leisure-oriented properties recovering more robustly [64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Summit Hotel Properties, Inc. (NYSE:INN) Q4 2021 Earnings Conference Call February 24, 2022 9:00 AM ET Company Participants Adam Wudel - SVP, Finance & Capital Markets Jonathan Stanner - President, CEO & Director William Conkling - EVP & CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Michael Bellisario - Robert W. Baird & Co. Neil Malkin - Capital One Securities Chris Woronka - Deutsche Bank William Crow - Raymond James & Associates Operator Good day, and thank you for standing ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35074 SUMMIT HOTEL PROPERTIES, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of t ...

Financial Data and Key Metrics Changes - The company reported a pro forma RevPAR of $98 for Q3 2021, more than double the RevPAR from Q3 2020 and 24% lower than Q3 2019, showing significant improvement from earlier in the year [11] - Corporate cash flow reached $18.5 million in Q3, more than triple the cash flow from Q2 2021, with pro forma hotel EBITDA at $38.8 million, exceeding the previous two quarters combined by approximately $5 million [25][28] - Operating costs per occupied room declined nearly 10% compared to 2019, leading to a gross operating profit margin of 47% and hotel EBITDA margin of 35% in Q3 [26] Business Line Data and Key Metrics Changes - The resort and non-urban hotels experienced a RevPAR growth of 12% relative to Q2 2021, with a nominal RevPAR exceeding $100 [18] - Urban hotels saw a RevPAR increase of 43% from Q2 2021 to approximately $94, driven by a 24% increase in ADR [19] - Full week group RevPAR for the total portfolio increased by 76% relative to Q2 2021, while weekday group RevPAR increased by 100% during the same period [22] Market Data and Key Metrics Changes - Demand growth was primarily driven by increases in group business and negotiated business segments, with negotiated room revenue increasing approximately 28% in Q3 over Q2 [10][22] - Weekend occupancy averaged 80% during Q3, with mid-week occupancy climbing to 64%, indicating a narrowing gap between weekday and weekend occupancy [13] - The company noted a reacceleration in demand in the latter half of September, with occupancy averaging nearly 70% during the last two weeks of the quarter [10] Company Strategy and Development Direction - The company announced a transformational acquisition of 27 hotels for a total consideration of $822 million, aimed at enhancing its portfolio in high-growth markets [7][30] - The acquisition is expected to be immediately accretive to earnings and leverage-neutral, with a stabilized NOI yield of 8% to 8.5% [31][33] - The company plans to continue renovations and capital expenditures between $15 million and $20 million for the year, reflecting confidence in long-term demand trends [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of corporate transient demand trends, with indications of a more robust return of corporate travel [10] - The company highlighted the favorable dynamics in Texas and Sunbelt markets, which are expected to benefit from migration patterns and corporate relocation activity [31][52] - Management acknowledged ongoing labor challenges but indicated a commitment to maintaining a lean staffing model while gradually increasing FTEs as demand recovers [26][62] Other Important Information - The company completed the acquisition of a newly built 110 guestroom residence for $33 million, which has performed exceptionally well since acquisition [14][15] - The company accessed capital markets in August, issuing $100 million of preferred equity to refinance existing debt and strengthen liquidity [28] Q&A Session Summary Question: Details on accretion numbers from NewcrestImage transactions - Management expects the transaction to be immediately accretive to earnings, with a stabilized NOI yield between 8% and 8.5% [40] Question: NewcrestImage's holding period intentions - Shares will be subject to a 6-month lockup period, and the partnership is expected to be long-term [42] Question: Ramp-up of EBITDA from the new portfolio - The new portfolio is expected to have a different growth profile, with higher growth potential due to the inclusion of newer assets [48] Question: Comfort with Texas exposure - Management is confident in the growth dynamics in Texas, citing strong migration and job growth [50] Question: Future acquisition plans post-transaction - While the transaction will keep management busy, the company remains open to opportunistic acquisitions [56] Question: Labor dynamics in new markets - Management noted better labor dynamics in the new markets, which were a consideration in the acquisition [75] Question: Supply growth outlook - The new development pipeline has slowed significantly, leading to expectations of below-average supply growth for several years [78]

OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 (512) 538-2300 For the tra ...

I N V E S T O R P R E S E N T A T I O N S E P T E M B E R 2 0 2 1 | N Y S E : I N N Forward-Looking Statements We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "m ...