SUMMIT HOTEL PROPERTIES REPORTS SECOND QUARTER 2026 RESULTS

In the second quarter, the operating income saw a significant increase of 27.3% to reach $28.9 million. Additionally, the adjusted EBITDAre increased by 7.7% to $54.8 million. The pro forma revenue per available room (RevPAR) also witnessed a growth of 5.0% during this quarter, primarily driven by a strong average daily rate (ADR) increase of 7.1%. Furthermore, measures were taken to improve the financial standing, including the refinancing of a $650 million senior credit facility and the sale of certain assets.