Summit Hotel Properties Inc is a U.S. company that invests in select-service hotels in upscale and upper-midscale properties across the country. Their assets are mainly operated by Summit Hotel OP, LP, with the company having general and limited partnership interests. The company’s real estate investment activities are its only segment, and it generates revenue from hotel operations, specifically from rooms and other sources.
The hotels they operate are found in popular locations such as corporate offices, airports, state capitols, retail centers, convention centers, and leisure attractions. Some of the brands associated with Summit’s properties include Marriott, Hilton, Hyatt, and Holiday Inn. Summit is a publicly-traded company on the New York Stock Exchange under the ticker symbol INN.
As a leading lodging real estate investment trust, its mission is to offer superior risk-adjusted returns for shareholders, while providing its guests with an exceptional experience. They have an efficient operating model that focuses on modern functionality and local authenticity for guests, as well as an in-house corporate revenue management system and real-time data analytics.
Their balanced sheet is flexible, with ample liquidity and staggered debt maturities. Their geographically diversified portfolio is found in markets that have multiple demand generators and relatively high barriers to entry. Summit Hotel Properties Inc strives to optimize capital allocation and pursue both external growth opportunities and capital recycling initiatives. With a focus on quality assets, efficient operations, and a conservative yet flexible balance sheet, Summit Hotel Properties Inc is well-positioned to continue delivering superior returns to shareholders.