Summit Hotel Properties Reports Second Quarter 2019 Results And Announces Newly-Formed Joint Venture With GIC
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Summit Hotel Properties (INN) Reports Q2 EPS of $0.43, Revenues Beat
July 31, 2019 5:22 PM EDTSummit Hotel Properties (NYSE: INN) reported Q2 EPS of $0.43, versus $0.32 reported last year. Revenue for the quarter came in at $142.93 million versus the consensus estimate of $138.95 million.
Second Quarter 2019 Highlights
Net Income: Net income attributable to common stockholders increased 33.6 percent to $45.2 million, or $0.43 per diluted share, compared with $33.9 million, or $0.32 per diluted share, in the same period of 2018.Pro Forma RevPAR: Pro forma revenue per available room ("RevPAR") increased 1.2 percent to $133.51 from the same period in 2018. Pro forma average daily rate ("ADR") increased 1.2 percent to $163.15 compared to the same period in 2018 and... More