Summit Hotel Properties Inc

Summit Hotel Properties has agreed an unsecured $650 million credit facility, consisting of a $400 million revolving credit line, a $200 million term loan and a $50 million delayed-draw term loan. The maturity was extended to June 2031; interest margins are 140–230 basis points (revolver) and 135–225 basis points (term loans) over the adjusted term SOFR and are 20 basis points cheaper than the prior facility. The weighted average maturity of liabilities is about 3.7 years; $5 million of the revolving credit line is currently drawn. » Más en de.investing.com

William Conkling, executive vice president and chief financial officer of Summit Hotel Properties, is leaving the company for personal reasons effective this coming Sunday and will remain in an advisory role through September 30, 2026. CEO Jonathan Stanner will assume the CFO duties on an interim basis while a search firm has been retained to find a successor. The company emphasized that Conkling’s departure is not due to disagreements or accounting issues; Conkling had served as CFO for five years. » Más en de.investing.com

Summit Hotel Properties reported adjusted EPS of -$0.06 for Q4 2025 versus an estimate of -$0.11 and revenue of $174.32 million, also above expectations. The positive surprise pushed the share price up 9% to $4.28 and was supported by stable group demand and improved RevPAR performance in markets such as San Francisco and Orlando. Management emphasizes capital allocation and portfolio optimization; for 2026 the company expects EPS of around -$0.50 and revenue of about $742.95 million. » Más en de.investing.com