Summit Hotel Properties Q3 revenue beats estimates on business travel recovery, strong group demand
Reuters2026/11/03 21:40
Overview
U.S. hotel REIT's Q3 revenue rose yr/yr and beat analyst expectations
Pro forma RevPAR rose 7.2% yr/yr, driven by demand growth and pricing power
Company raised full-year 2026 guidance after strong Q3 results
Outlook
Summit Hotel Properties raises 2026 outlook for pro forma RevPAR growth, Adjusted EBITDAre, and AFFO
Company expects 2026 pro forma RevPAR growth of 3.5% to 4.5%
Company forecasts 2026 Adjusted EBITDAre between $181 mln and $186 mln
Result Drivers
DEMAND AND PRICING - Co said Q3 RevPAR growth was driven by broad-based demand and pricing power, especially midweek in urban markets
BUSINESS AND GROUP TRAVEL - Co attributed portfolio growth to recovery in business transient travel and ongoing strength in group demand
MARGIN EXPANSION - Co said profitability growth was aided by expanded hotel EBITDA margins
Company press release: ID:nPn56zYcRa
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q3 Revenue |
Beat |
$185.71 mln |
$180.92 mln (5 Analysts) |
Q3 Loss Per Share |
|
$0.07 |
|
Q3 Net Loss Attributable to Common Stockholders |
|
$7.66 mln |
|
Q3 Adjusted FFO Per Share |
|
$0.20 |
|
Q3 FFO Per Share |
|
$0.16 |
|
Q3 Hotel EBITDA Margin |
|
32.60% |
|
Q3 RevPAR |
|
$126.17 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for Summit Hotel Properties, Inc. is $7.00, about 1.4% below its November 2 closing price of $7.10
Reuters Recommended Reads
Nov 2 - Marriott tops Q3 revenue, profit estimates
Nov 2 - Choice Hotels Q3 revenue and adjusted EPS beat estimates, raises FY RevPAR outlook
Nov 2 - Marriott lifts annual room revenue growth forecast on resilient travel demand
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Barclays: Bloom Energy (BE.US) demand turning point is steeper than expected, rating raised to "Buy"
Barclays has upgraded Bloom Energy’s rating from "equal weight" to "overweight," setting a target price of $289.
Competitor turns supplier as the "new owner"! Bank of America: Marvell Technology's acquisition of Lumentum may prompt Cisco and Ciena to seek other sources
Bank of America analysts stated that Marvell Technology's acquisition of Lumentum may prompt Ciena and Cisco to diversify their optical component suppliers.
Goldman Sachs traders warn of an "invisible bear market": S&P 500 is only 3% away from its all-time high, but 60% of its constituent stocks have entered bear market territory.
The S&P 500 Index is only about 3% away from its latest record high, but 60% of the constituent stocks in this benchmark index are deeply entrenched in bear market territory.
Crypto prices
More
