NYSE$INN
Summit Hotel Properties Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Summit Hotel Properties reported strong first quarter 2023 results driven by RevPAR growth and increased operating income.
Summit Hotel Properties announced positive results for the first quarter ended March 31, 2023, with pro forma RevPAR growing by 19.3%. The company's operating results were particularly strong in urban markets and recently acquired NewcrestImage hotels. The Board of Directors authorized a 50% increase in the common dividend, to $0.24 per share on an annualized basis.
- Pro Forma RevPAR grew 19.3% in the first quarter of 2023.
- Operating income increased, driving Adjusted EBITDAre growth of 35% to $44.4 million.
- Common dividend increased by 50% to an annualized $0.24 per share.
- Average daily rate in the pro forma portfolio reached the highest level in the Company’s history, increasing 11% year-over-year.
Headline financials
Revenue & EPS history
Summit Hotel Properties · Revenue · Quarterly
$182M
Revenue by segment
Summit Hotel Properties · $175M total across 3 segments · Q4 2025
- Room Revenue$153M+0.2%87.5%
- Food and Beverage$11M+3.0%6.3%
- Other Revenue$10.8M+15.1%6.2%
Forward guidance
The Company is reiterating its previously provided outlook for the full year 2023 based on 103 lodging assets, 61 of which were wholly owned as of May 3, 2023. There are no pending acquisitions, dispositions, or additional capital markets activities assumed in the Company’s full year 2023 outlook.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.2%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+0.5%
Avg return
30 days after
48%
30 / 62 earnings
Positive
+8.9%
Q3 2023
Best reaction
-12.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.4% | +5.6% | +15.4% | |
| Q4 2025 | +8.4% | +8.2% | -0.7% | |
| Q3 2025 | +2.3% | +11.9% | -4.5% | |
| Q2 2025 | +0.4% | -0.6% | +10.4% | |
| Q1 2025 | +1.5% | +2.0% | +7.6% | |
| Q4 2024 | -1.1% | +2.1% | -14.2% | |
| Q3 2024 | -0.8% | +7.2% | +10.8% | |
| Q2 2024 | +3.8% | +1.3% | +8.7% | |
| Q1 2024 | +2.8% | +3.2% | +1.8% | |
| Q4 2023 | -0.8% | -0.6% | +0.6% | |
| Q3 2023 | +8.9% | +10.3% | +13.8% | |
| Q2 2023 | -8.8% | -7.6% | -8.5% | |
| Q1 2023 | +2.0% | +4.2% | +7.4% | |
| Q4 2022 | -6.3% | -1.9% | -13.7% | |
| Q3 2022 | -9.9% | -7.7% | -3.3% | |
| Q2 2022 | +3.0% | +2.6% | -3.4% | |
| Q1 2022 | -1.8% | -4.1% | -7.3% | |
| Q4 2021 | -0.2% | -1.6% | -1.7% | |
| Q3 2021 | +1.0% | +1.1% | -13.7% | |
| Q2 2021 | -1.9% | +3.8% | +7.1% | |
| Q1 2021 | -5.3% | -3.7% | -7.0% | |
| Q4 2020 | +4.5% | +2.8% | +3.6% | |
| Q3 2020 | +2.5% | +5.3% | +65.9% | |
| Q2 2020 | +5.7% | +16.5% | +11.8% | |
| Q1 2020 | -12.5% | -21.4% | +18.2% | |
| Q4 2019 | -8.3% | -13.8% | -59.3% | |
| Q3 2019 | -3.4% | -3.9% | -3.6% | |
| Q2 2019 | -1.3% | -3.5% | -3.5% | |
| Q1 2019 | +5.9% | +8.2% | -1.6% | |
| Q4 2018 | +0.8% | -2.7% | -0.9% | |
| Q3 2018 | -0.3% | -2.2% | -4.1% | |
| Q2 2018 | +0.4% | -3.0% | -3.0% | |
| Q1 2018 | -1.8% | +0.0% | +5.6% | |
| Q4 2017 | -1.1% | -2.6% | -9.2% | |
| Q3 2017 | +0.7% | -1.0% | -4.5% | |
| Q2 2017 | -10.1% | -8.7% | -17.1% | |
| Q1 2017 | -0.5% | +0.7% | +7.6% | |
| Q4 2016 | -1.8% | -5.4% | -5.5% | |
| Q3 2016 | -2.1% | +0.5% | +13.2% | |
| Q2 2016 | -0.4% | -0.6% | +0.4% | |
| Q1 2016 | +3.9% | — | — | |
| Q4 2015 | +5.2% | — | — | |
| Q3 2015 | +4.1% | — | — | |
| Q2 2015 | -5.4% | — | — | |
| Q1 2015 | -2.4% | — | — | |
| Q4 2014 | +3.0% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | +3.6% | — | — | |
| Q1 2014 | +2.3% | — | — | |
| Q4 2013 | -1.1% | — | — | |
| Q3 2013 | -3.7% | — | — | |
| Q2 2013 | -1.2% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | +3.4% | — | — | |
| Q3 2012 | -2.4% | — | — | |
| Q2 2012 | +2.4% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q4 2011 | -7.9% | — | — | |
| Q3 2011 | +4.5% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q4 2010 | +1.3% | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
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