Summit Hotel Properties, Inc. (INN) Form 10-Q — Aug 5, 2026
Summit Hotel Properties reported Q2 2026 total revenues of $199.0 million, up 3.2% year over year, with net income attributable to common stockholders of $3.9 million ($0.04 diluted EPS) swinging from a $1.6 million loss in the prior-year quarter. Same-store RevPAR grew 5.0% on a 7.1% ADR increase despite a 1.9% occupancy decline, and Hotel EBITDA rose 6.3% to $72.6 million. The quarter absorbed a higher cost of debt after Summit repaid its $287.5 million 1.50% convertible notes at their February 2026 maturity using the $275 million variable-rate 2025 Delayed Draw Term Loan, lifting the weighted-average interest rate to 5.52% from 4.83% at year-end 2025.
Key figures
- Eps
- 0.04
- Revenue
- $199.0 million (Q2 2026)
- Net Income
- $9.7 million (Q2 2026 consolidated net income)
- Total Debt
- $1.37 billion (net of debt issuance costs)
- Revenue Yoy
- +3.2% (Q2 2026 vs Q2 2025)
- Total Assets
- $2.73 billion
- Cash Position
- $36.9 million
- Interest Rate
- 5.52% weighted average after swaps (vs 4.83% at December 31, 2025)
- Shares Outstanding
- 107853463
- Q2 adr
- $178.42 (+7.7% total / +7.1% same-store)
- Portfolio
- 94 lodging properties, 14,226 guestrooms, 24 states
- Q2 revpar
- $136.06 (+5.6%)
- Q2 occupancy
- 76.3% (-1.9%)
- Q2 hotel ebitda
- $72.6 million (+6.3%)
- Six month revenue
- $384.1 million (+1.8%)
- Q2 interest expense
- $22.1 million (+7.0%)
- Convertible notes repaid
- $287.5 million (February 2026)
- Variable rate debt share
- 50% of total debt (vs 30% at Dec 31, 2025)
- Dividend per common share
- $0.08 quarterly
- Share repurchases h1 2026
- $6.2 million (1,481,959 shares)
- Asset writedown six months
- $3.6 million
- Buyback capacity remaining
- $28.4 million
- Six month net loss to common
- $(6.6) million
- Undrawn delayed draw term loan
- $50 million (closed June 2026)
- Q2 same store revpar growth pct
- 5.0%
Price after filing
Close on the filing date to close N calendar days later (from $6.91). Historical, not a forecast.
AI analysis
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