Summit Hotel Properties (INN) Misses Q2 FFO by 5c; Guides FY11 FFO
Summit Hotel Properties (NYSE: INN) reported Q2 FFO of $0.20, $0.05 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $38.6 million versus the consensus estimate of $41.47 million.
RevPAR for the second quarter rose 2.3 percent.
Summit Hotel Properties sees FY2011 FFO of $0.72-$0.77, versus the consensus of $0.83.
RevPAR for the second quarter rose 2.3 percent.
Summit Hotel Properties sees FY2011 FFO of $0.72-$0.77, versus the consensus of $0.83.