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Kay Kenneth J reported acquisition or exercise transactions in this Form 4 filing.
Summit Hotel Properties, Inc. director Kenneth J. Kay received a grant of 22,293 shares of Common Stock, reported at a price of $0.00 per share, as a compensation-related award. Following this award, he directly holds a total of 166,835 shares of the company’s common stock.
Summit Hotel Properties, Inc. director Amina Belouizdad received a grant of 22,293 shares of Common Stock as a stock award. The shares were acquired at a stated price of $0.00 per share, reflecting compensation rather than an open-market purchase. Following this award, Belouizdad directly holds 105,543 shares of the company’s common stock.
Patel Mehulkumar Bhikhubhai reported acquisition or exercise transactions in this Form 4 filing.
Summit Hotel Properties, Inc. director Mehulkumar Bhikhubhai Patel received a grant of 22,293 shares of Common Stock, recorded at a price of $0.00 per share as a compensation-related award. Following this grant, his directly held position increased to 95,686 shares.
A footnote explains that this total no longer includes shares previously reported as indirectly held through Sagestar Family, LLC, which are no longer considered to be beneficially owned by him. The filing reflects both the new award and this change in how indirect holdings are counted.
Taitz Hope S reported acquisition or exercise transactions in this Form 4 filing.
Summit Hotel Properties director Hope S. Taitz received a stock grant of 22,293 shares of Common Stock on May 20, 2026. The award was recorded at a price of $0.00 per share, indicating a compensation-related grant rather than an open-market purchase. After this grant, Taitz directly holds 148,752 shares of Summit Hotel Properties common stock.
JONES JEFFREY W reported acquisition or exercise transactions in this Form 4 filing.
Summit Hotel Properties, Inc. director Jeffrey W. Jones received a grant of 22,293 shares of Common Stock on May 20, 2026 at no stated purchase price. After this award, he directly holds a total of 166,835 shares, reflecting routine equity-based compensation rather than an open-market trade.
Storey Thomas W. reported acquisition or exercise transactions in this Form 4 filing.
Summit Hotel Properties, Inc. director Thomas W. Storey reported a compensation-related stock award. He received 22,293 shares of Common Stock on May 20, 2026 with a reported price of $0.0000 per share, increasing his directly held position to 253,630 shares after the transaction.
Summit Hotel Properties, Inc. reported the results of its Annual Meeting of Stockholders. A total of 93,766,794 common shares were represented in person or by proxy, equal to 86.18% of shares outstanding as of the March 6, 2026 record date, indicating strong participation. Stockholders elected eight directors to the board, each to serve until the 2027 annual meeting and until a successor is duly elected and qualified. They also ratified the appointment of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. In addition, stockholders approved, on an advisory and non-binding basis, the compensation of the company’s named executive officers.
Summit Hotel Properties reported mixed first quarter 2026 results, with total revenues of $185.1 million, essentially flat versus the prior year, and a widened net loss attributable to common stockholders of $10.4 million, or $0.10 per diluted share, compared to a $4.7 million loss, or $0.04 per share, a year earlier.
On a pro forma basis, RevPAR edged up 0.2% to $126.57, driven by a 1.5% increase in average daily rate to $176.85, while occupancy slipped to 71.6%. Pro forma hotel EBITDA declined to $63.4 million and hotel EBITDA margin compressed to 34.4% from 35.8%, reflecting higher operating costs and a loss on write-down of assets.
The company continued its capital recycling strategy, agreeing to sell two Dallas (Arlington South) hotels for $19.0 million at a 5.0% capitalization rate and completing a joint-venture sale in Longview, Texas for $12.3 million. Since 2023, it and its affiliates have sold or contracted to sell 15 hotels for about $218 million at a blended 4.6% cap rate. Summit also fully repaid $287.5 million of 1.5% convertible notes using term loan and revolver borrowings and repurchased 1.4 million shares for $6.0 million in the quarter.
As of March 31, 2026, the company had $1.1 billion of pro rata debt at a 5.53% weighted average interest rate and $34.8 million of unrestricted cash. It declared a quarterly common dividend of $0.08 per share, equating to a 6.4% annualized yield based on the April 29 share price. For full-year 2026, Summit modestly raised the low end and implied midpoint of its outlook, guiding pro forma RevPAR growth of 0.5%–3.0%, Adjusted EBITDAre of $170–$181 million, and Adjusted FFO of $90–$102 million, or $0.75–$0.85 per diluted share and unit, based on its current 94-hotel portfolio.
Summit Hotel Properties, Inc. reported a net loss attributable to common stockholders of $10.4 million, or $0.10 per share, for the three months ended March 31 2026, compared with a loss of $4.7 million, or $0.04 per share, a year earlier. Total revenues were $185.1 million, essentially flat versus $184.5 million in 2025, as room, food and beverage, and other revenues held steady while operating expenses, including a $3.6 million asset write-down, pressured profitability.
Operating income declined to $14.1 million from $19.8 million, and interest expense rose to $20.5 million, reflecting a higher debt load and rates. The company generated $28.1 million of net cash from operating activities, modestly above $25.9 million in the prior-year quarter, and ended the period with $50.4 million in cash, cash equivalents, and restricted cash.
Summit owned interests in 94 lodging properties with 14,226 guestrooms across 24 U.S. states at March 31 2026. During the quarter it completed the sale of one hotel in Texas, classified two additional Dallas-area hotels as held for sale with a related write-down, refinanced $287.5 million of 1.50% Convertible Notes with a new delayed-draw term loan and revolver borrowings, and repurchased 1.43 million common shares for about $6.0 million under its 2025 share repurchase program.
Summit Hotel Properties Inc: Vanguard Portfolio Management reports beneficial ownership of 6,639,210 shares of Common Stock, representing 6.1% of the class as of 03/31/2026.
The filing states Vanguard has sole dispositive power over 6,639,210 shares and sole voting power for 40,889 shares; the holdings include securities held for Vanguard funds and other managed clients.