Summit Hotel Properties (INN) Tops Q1 FFO by 1c

Summit Hotel Properties (NYSE: INN) reported Q1 FFO of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $118.1 million versus the consensus estimate of $116.68 million.

Pro forma revenue per available room ("RevPAR") grew to $108.08, an increase of 3.8 percent over the same period of 2015. Pro forma average daily rate ("ADR") grew to $140.97, an increase of 1.5 percent from the same period of 2015. Pro forma occupancy increased by 2.3 percent to 76.7 percent.

For earnings history and earnings-related data on Summit Hotel Properties (INN) click here.

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