Summit Hotel Properties Reports Stronger-Than-Expected Q1 Results
Summit Hotel Properties (INN) reported first-quarter results that exceeded expectations, with pro forma RevPAR rising 0.2% year-over-year and a significant March acceleration in performance. The company raised its full-year guidance for RevPAR growth to between 0.5% and 3%, while also strengthening liquidity through asset sales and debt repayment.
Tickers: $INN
Topics: capital returns guidance update hotel industry revenue per available room (RevPAR)