Summit Hotel Properties, Inc. INN
Summit Hotel Properties, Inc. is a self-managed lodging property investment company that was organized on June 30, 2010 as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the "Operating Partnership"), a Delaware limited partnership also organized on June 30, 2010. We focus on owning lodging properties with efficient operating models that generate strong margins and investment returns. At December 31, 2025, our portfolio consisted of 95 lodging properties with a total of 14,347 guestrooms located in 24 states. We own our properties fee simple, except for six hotel properties which are subject to ground leases. As of December 31, 2025, we own 100% of the outstanding equity interests in 52 of our lodging properties. We own a 51% controlling interest in 40 lodging properties through a joint venture with USFI G-Peak Pte. Ltd. ("GIC"), a private limited company incorporated in the Republic of Singapore, (the "GIC Joint Venture"), and two 90% equity interests in separate joint ventures (the "Brickell Joint Venture" and the "Onera Joint Venture"). The Brickell Joint Venture owns two lodging properties, and the Onera Joint Venture owns one lodging property.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $729.5M | $731.8M | $736.1M | $675.7M | $361.9M | $234.5M | $549.3M | $567.3M | $515.4M | $473.9M |
| Cost of revenue | — | — | — | — | — | — | — | — | $325.6M | $295.7M |
| Gross profit | — | — | — | — | — | — | — | — | $189.8M | $178.3M |
| SG&A | $32.8M | $31.9M | $32.5M | $30.8M | $29.4M | $21.0M | $23.6M | $21.5M | $19.6M | $19.3M |
| Total operating expenses | $670.4M | $657.2M | $677.0M | $628.2M | $395.4M | $343.9M | $475.4M | $483.5M | $431.5M | $391.4M |
| Operating income | $65.7M | $103.5M | $58.8M | $67.8M | -$33.3M | -$109.4M | $119.4M | $125.2M | $127.1M | $132.3M |
| Interest expense | $80.7M | $82.6M | $86.8M | $65.6M | $43.4M | $43.3M | $41.0M | $41.9M | $29.7M | $28.1M |
| Pre-tax income | -$10.8M | $30.1M | -$25.3M | $4.8M | -$67.1M | -$147.9M | $83.8M | $90.2M | $101.2M | $106.8M |
| Income tax | $842.0K | $8.7M | $2.8M | $3.6M | $1.5M | $1.4M | $1.5M | $922.0K | $1.7M | $1.4M |
| Net income | -$11.7M | $38.9M | -$28.1M | $1.2M | -$68.6M | -$149.2M | $82.6M | $90.9M | $99.2M | $107.8M |
| EPS, basic | -0.22 | 0.23 | -0.27 | -0.16 | -0.80 | -1.52 | 0.65 | — | 0.79 | 1.00 |
| EPS, diluted | -0.22 | 0.22 | -0.27 | -0.16 | -0.80 | -1.52 | 0.65 | 0.68 | 0.79 | 1.00 |
| Shares, diluted (wtd. avg.) | $106.8M | $132.4M | $105.5M | $105.1M | $104.5M | $104.1M | $103.9M | $103.8M | $99.8M | $87.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $36.1M | $40.6M | $37.8M | $61.8M | $96.9M | $38.9M | $69.8M | $72.6M | $66.0M | $59.6M |
| Other intangibles | $25.0M | $26.6M | $30.7M | $34.8M | $10.8M | $10.9M | $11.0M | $21.0M | $21.8M | $6.3M |
| Total assets | $2.78B | $2.90B | $2.94B | $3.02B | $2.26B | $2.23B | $2.36B | $2.22B | $2.21B | $1.72B |
| Long-term debt | $1.39B | $1.40B | $1.43B | $1.45B | $1.07B | $1.09B | $1.02B | $958.7M | $868.2M | $652.4M |
| Total liabilities | $1.50B | $1.51B | $1.54B | $1.56B | $1.16B | $1.18B | $1.11B | $1.03B | $932.5M | $705.0M |
| Retained earnings | -$405.6M | -$347.0M | -$339.8M | -$288.2M | -$262.6M | -$179.0M | -$2.3M | $4.8M | $9.2M | -$1.4M |
| Total equity | $862.2M | $909.5M | $1.35B | $1.41B | $1.11B | $1.05B | $1.24B | $1.19B | $1.28B | $1.01B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $149.0M | $166.3M | $153.6M | $169.6M | $66.1M | -$42.1M | $148.5M | $161.7M | $147.8M | $136.7M |
| Depreciation and amortisation | — | — | — | $149.5M | $105.5M | $109.2M | $99.4M | $101.0M | $85.9M | $72.4M |
| Stock-based compensation | $8.8M | $8.1M | $7.7M | $8.4M | $10.7M | $6.5M | $6.2M | $6.7M | $5.9M | $4.2M |
| Capital expenditure | $75.5M | $89.3M | $89.6M | $76.5M | $20.4M | $22.6M | $59.3M | $66.6M | $37.2M | $42.4M |
| Investing cash flow | -$43.4M | -$71.5M | -$102.0M | -$290.5M | -$74.2M | -$30.7M | -$182.2M | -$63.1M | -$511.7M | -$151.4M |
| Financing cash flow | -$112.8M | -$94.2M | -$65.7M | $85.8M | $66.2M | $41.8M | $31.0M | -$92.0M | $370.3M | $21.9M |
| Dividends paid | $39.0M | $36.9M | $26.9M | $10.0M | $0 | $18.8M | — | — | — | — |
| Buybacks | $15.4M | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001497645-26-000015.
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