INN News & Events

Reports Q1 revenue $185.05M, consensus $181.39M. Reports Q1 Pro forma RevPAR up 0.2% to $126.57 vs. last year; Pro forma ADR up 1.5% to $176.85 vs. last year, and pro forma occupancy down 1.3% to 71.6 %. "Operating fundamentals improved meaningfully in the Q1 as positive RevPAR growth in the quarter exceeded our expectations by over 200 basis points. Encouragingly, we experienced sequential improvements in demand within the quarter culminating with March RevPAR growth of over 4%. These positive trends have continued into the second quarter as rate-driven revenue growth has been broad based across markets and segments of our portfolio. Our outlook for the remainder of the year is increasingly positive as we approach what is expected to be a robust summer of travel demand, highlighted by a record setting special events calendar and current operating trends that support an increase to our full year 2026 guidance ranges," said Jonathan Stanner, President and CEO."

Sees FY26 Pro Forma RevPAR Growth 0.50%-3.00%. The company said, "The Company's updated outlook for the FY26 is based on the 94 lodging assets owned as of March 31, 2026, including the Courtyard by Marriott and Residence Inn Dallas for which we have entered into an agreement to sell the two hotels. The sale is expected to close in the third quarter and will result in approximately $500,000 of foregone Hotel EBITDA from the closing date through the end of the year, which is not reflected in the updated guidance ranges. Based on Q1 actual results and recent operating trends, the Company is increasing the low end and implied midpoint of its guidance ranges. There are no additional acquisitions, dispositions, share repurchases, or capital markets activities assumed in the Company's FY26 outlook."

Summit Hotel Properties files $500M mixed securities shelf