Summit Hotel Properties(US:INN)2025-06-17 10:54Portfolio Overview - Summit Hotel Properties owns 97 lodging assets [9], with 5,534 guestrooms [9] - 86% of the portfolio is located in the top 50 markets [9] - 95% of the portfolio is affiliated with Marriott, Hyatt, and Hilton brands [9] Financial Performance and Outlook - Pro forma RevPAR for 2024 was $124, representing an 18.7% increase [14] - The company expects full-year 2025 pro forma RevPAR growth between 1.00% and 3.00% [16] - Adjusted EBITDA for 2025 is projected to be between $184 million and $198 million [16] - Adjusted FFO for 2025 is expected to be between $111.9 million and $125.6 million [16] Capital Allocation and Transactions - Sold ten hotels over the last 18 months for approximately $150 million at a <5% cap rate [14] - Acquired a two-hotel portfolio for $96 million with an 8.8% NOI capitalization rate [14] - Declared a quarterly common dividend representing a 5.1% annualized dividend yield of $0.08 per share [14] Balance Sheet and Liquidity - The company has approximately $350 million in liquidity [14] - Nearly 80% of the pro rata debt is fixed [14] - Pro rata net debt outstanding is $1.0 billion [101]