Summit Hotel Properties raised its full-year 2026 guidance after reporting second-quarter pro forma RevPAR growth of 5%, driven by a 7.1% increase in average daily rate. Adjusted EBITDAre rose 7.7% to $54.8 million, and adjusted FFO per share increased 6.7% to $0.29. The company now expects full-year RevPAR growth of 1.75% to 3.25%, adjusted EBITDAre of $175 million to $182 million, and adjusted FFO per share of $0.79 to $0.85. It also refinanced its corporate credit facility with a new $650 million senior unsecured facility extending to June 2031 and sold two Dallas Arlington hotels for $19 million.
Summit Hotel Properties IncRaises full-year guidance after strong Q2 results, with increased RevPAR, EBITDAre, and FFO per share.
