Summit Hotel Properties Reports First Quarter 2019 Results
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Summit Hotel Properties (INN) Reports Q1 EPS of $0.09, Revenues Beat; Comp. RevPAR Up 2.6%
May 1, 2019 5:12 PM EDTSummit Hotel Properties (NYSE: INN) reported Q1 EPS of $0.09, versus $0.01 reported last year. Revenue for the quarter came in at $138.95 million versus the consensus estimate of $135.96 million.
"We are pleased with our financial results in the first quarter as strong top line growth, along with a continued focus on cost control initiatives, resulted in operating margin improvement year-over-year. RevPAR growth of 2.9% for our well-located and diverse portfolio of high-quality hotels exceeded the STR Upscale average by 340 basis points in the first quarter, which highlights the positive trends we saw throughout the portfolio... More
