Summit Hotel Properties Reports First Quarter 2021 Results
Portfolio Demand and RevPAR Accelerate to New Highs Since Onset of Pandemic
Six-Hotel Portfolio Contribution to GIC Joint Venture Completed for $172 Million
Current Liquidity Bolstered to Nearly $450 Million
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AUSTIN, Texas, May 4, 2021 /PRNewswire/ Summit Hotel Properties, Inc. (NYSE: INN) (the Company ), today announced results for the first quarter ended March 31, 2021. Hotel demand, particularly leisure demand, improved significantly during the latter part of the first quarter driving March RevPAR to a new high of more than $65 since the onset of the pandemic, which exceeded February s previous high by nearly 30%, said Jonathan P. Stanner, the Company s President and Chief Executive Officer. We also completed the contribution of six hotels to our existing joint venture with GIC for $172 million subsequent to quarter end which generated net proceeds of $83
Summit Hotel Properties Declares First Quarter 2021 Preferred Dividends
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AUSTIN, Texas, April 30, 2021 /PRNewswire/ Summit Hotel Properties, Inc. (NYSE: INN) (the Company ), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend of $0.403125 per share of the Company s 6.45% Series D Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2021, and a cash dividend of $0.390625 per share of the Company s 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2021.
The dividends are payable on May 28, 2021 to holders of record as of May 17, 2021.
Summit Hotel Properties Declares First Quarter 2021 Preferred Dividends prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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AUSTIN, Texas, April 28, 2021 /PRNewswire/ Summit Hotel Properties, Inc. (NYSE: INN) (the Company ) today announced that William ( Trey ) H. Conkling will join the Company as Executive Vice President & Chief Financial Officer effective May 17, 2021. We are extremely pleased to have Trey join our management team. I ve had the privilege of working with Trey for over a decade and value his extensive capital markets and transaction advisory experience, said Jonathan Stanner, President and Chief Executive Officer. Over the course of his career, Trey has established himself as a very effective strategic thought leader that brings a breadth of experience in lodging and related industries along with a deep set of relationships that will be immediately valuable to the Company, added Mr. Stanner.
Summit Hotel Properties Names William ( Trey ) H Conkling Executive Vice President and Chief Financial Officer prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.