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Summit Hotel Q4 results beat estimates, co sees FY 2023 adj. FFO below consensus

Feb. 27, 2023 4:41 PM ETSummit Hotel Properties, Inc. (INN) StockBy: Anuron Mitra, SA News Editor
  • Summit Hotel press release (NYSE:INN): Q4 FFO of $0.25 beats by $0.05.
  • Revenue of $172.3M (+61.2% Y/Y) beats by $3.12M.
  • Pro forma RevPAR increased 17.9% to $109.01 compared to the fourth quarter of 2021.
  • Sees FY 2023 adj. FFO of $0.92 to $1.05. The consensus estimate is $1.11.

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