Summit Hotel Properties Inc (INN.N) Key Developments | Reuters.com
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Summit Hotel Properties Inc (INN.N)

INN.N on New York Stock Exchange

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30 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Summit Hotel Properties announces sale of a hotel for $10.5 million
Tuesday, 31 May 2016 05:04pm EDT 

Summit Hotel Properties Inc :Summit Hotel Properties announces the sale of a hotel for $10.5 million.  Full Article

Summit Hotel Properties raises Q2 2016 RevPAR and FFO outlook; and raises FY 2016 RevPAR and FFO outlook
Tuesday, 3 May 2016 04:45pm EDT 

Summit Hotel Properties:Expects Q2 2016 Pro forma RevPARgrowth of 5.0% to 7.0% pct.Expects Q2 2016 RevPAR growth (same-store 74) of 5.0% to 7.0% pct.Expects Q2 2016 adjusted FFO per diluted share and unit of $0.39 - $0.41.Expects FY 2016 Pro forma RevPAR growth of 4.00 pct - 5.50 pct.Expects FY 2016 RevPAR growth (same-store 74) of 4.00 pct - 5.50 pct.Expects FY 2016 adjusted FFO per diluted share and unit of $1.31 - $1.37.  Full Article

Summit Hotel Properties Inc gives Q3 2015 RevPAR outlook; gives Q3 2105 AFFO outlook above analysts' estimates; reaffirms FY 2015 RevPAR outlook; raises FY 2015 AFFO outlook
Monday, 3 Aug 2015 05:01pm EDT 

Summit Hotel Properties Inc:Expects Q3 2015 Pro forma RevPAR growth of 4.0% to 6.0% pct.Expects Q3 2015 RevPAR growth (same-store 84) of 4.0% 6.0% pct.Expects Q3 2015 adjusted FFO per diluted unit of $0.33 - $0.35.Expects FY 2015 Pro forma RevPAR growth of 6.00 pct - 8.00 pct.Expects FY 2015 RevPAR growth of 6.00 pct - 8.00 pct.Expects FY 2015 adjusted FFO per diluted unit of $1.16 - $1.20.Q3 2015 AFFO of $0.32 - Thomson Reuters I/B/E/S.FY 2015 AFFO of $1.15 - Thomson Reuters I/B/E/S.  Full Article

Summit Hotel Properties Inc Executive Chairman Kerry W. Boekelheide Steps Down
Monday, 3 Aug 2015 04:56pm EDT 

Summit Hotel Properties Inc:Announced that Founder and Executive Chairman Kerry W. Boekelheide has stepped down from his role effective July 30, 2015.  Full Article

Summit Hotel Properties acquires two properties for $59.0 million
Wednesday, 8 Jul 2015 09:25am EDT 

Summit Hotel Properties Inc:Acquires two properties for $59.0 million.Says acquisitions were funded by advances on the company's senior unsecured credit facility.Says plans to spend about $0.4 million on capital improvements during the next twelve months.Acquired 115-guestroom hotel indigo on June 30, 2015 for a total purchase price of $35.0 million.Says company plans to spend about $0.4 million on capital improvements during the next twelve months.Says acquired 139-guestroom Hampton inn located in Boston, mass. on June 18, 2015 for a total purchase price of $24.0 million.Currently estimates the hotel will contribute about $1.2 million of EBITDA through the balance of 2015.Summit hotel properties-company plans to spend about $2.3 million on capital improvements at Boston property during the latter part of 2016.Says estimates hotel indigo to contribute about $1.8 million of EBITDA through the balance of 2015.  Full Article

Summit Hotel Properties gives Q2 2015 RevPAR guidance; gives Q2 2015 AFFO guidance to a range in line with analysts' estimates; raises FY 2015 AFFO and RevPAR guidance
Monday, 4 May 2015 04:04pm EDT 

Summit Hotel Properties Inc:Expects Q2 2015 Pro forma RevPAR growth of 6.00 pct - 8.00 pct.Expects Q2 2015 RevPAR growth (same-store 84) of 6.00 pct - 8.00 pct.Expects Q2 2015 adjusted FFO per diluted unit of $0.32 - $0.34.Expects FY 2015 Pro forma RevPAR growth of 6.00 pct - 8.00 pct.Expects FY 2015 RevPAR growth of 6.00 pct - 8.00 pct.Expects FY 2015 adjusted FFO per diluted unit of $1 .10 - $1.16.Q2 2015 AFFO of $0.32 - Thomson Reuters I/B/E/S.FY 2015 AFFO of $1.11 - Thomson Reuters I/B/E/S.  Full Article

Summit Hotel Properties Inc declares Q1 dividend
Thursday, 30 Apr 2015 04:58pm EDT 

Summit Hotel Properties Inc:Declares a cash dividend for Q1 of $0.1175 per share of common stock.Declares cash dividend of $0.578125 per share on 9.25 pct Series A Cumulative Redeemable Preferred Stock for dividend period ending on May 29.Declares cash dividend of $0.4921875 per share on 7.875 pct Series B Cumulative Redeemable Preferred Stock for dividend period ending on May 29.Declares cash dividend of $0.4453125 per share on 7.125 pct Series C Cumulative Redeemable Preferred Stock for dividend period ending on May 29.Dividends are payable May 29.Record date as of May 15.  Full Article

Summit Hotel Properties Inc acquires newly constructed Hampton Inn & Suites Located in Downtown Minneapolis, Minnesota
Tuesday, 14 Apr 2015 07:29am EDT 

Summit Hotel Properties Inc:Closed on previously said acquisition of Hampton Inn & Suites located in Minneapolis, Minnesota.Company acquired 211-guestroom Hampton Inn & Suites on April 13, 2015 for a total purchase price of $39.0 mln and entered into management agreement with Interstate Hotels & Resorts.  Full Article

Summit Hotel Properties gives Q1, FY 2015 RevPAR guidance; gives Q1, FY 2015 FFO guidance in line with analysts' estimates
Monday, 2 Mar 2015 04:30pm EST 

Summit Hotel Properties:Expects Q1 2015 Pro forma RevPAR growth of 9.0pct to 11.0pct.Expects Q1 2015 RevPAR growth of 9.0pct to 11.0pct.Expects Q1 2015 adjusted FFO per diluted unit of $0.22-$0.24.Expects FY 2015 Pro forma RevPAR growth of 5.5pct to 7.5pct.Expects FY 2015 RevPAR growth of 5.5pct to 7.5pct.Expects FY 2015 adjusted FFO per diluted unit of $1.06-$1.12.Q1 2015 FFO of $0.23 - Thomson Reuters I/B/E/S.FY 2015 FFO of $1.09 - Thomson Reuters I/B/E/S.  Full Article

Summit Hotel Properties declares fourth quarter 2014 dividends
Friday, 30 Jan 2015 02:15pm EST 

Summit Hotel Properties:Declared, a cash dividend for the fourth quarter ended Dec. 31 of $0.1175 per share of common stock of the company and per common unit of limited partnership interest in Summit Hotel OP, LP, the company's operating partnership.Authorized, and the company has declared, a cash dividend of $0.578125 per share of the company's 9.25 percent Series A Cumulative Redeemable Preferred Stock for the dividend period ending on Feb. 27;.A cash dividend of $0.4921875 per share of the company's 7.875 percent Series B Cumulative Redeemable Preferred Stock for the dividend period ending on Feb. 27; and.A cash dividend of $0.4453125 per share of the company's 7.125 percent Series C Cumulative Redeemable Preferred Stock for the dividend period ending on Feb. 27.  Full Article

BRIEF-Summit Hotel Properties prices public offering

* Priced offering of 3 million shares of its 6.45% series D cumulative redeemable preferred stock at price of $25/share