Year-to-Date Highlights For the six-months ended June 30, 2012, pro forma RevPAR increased 9.5 percent to $66.21 as a result of ADR growth of 2.9 percent to $95.48 and a 6.4 percent increase in occupancy to 69.3 percent. RevPAR improvement was the result of the recent rebranding of 10 hotels, positive effect of recent renovations to an additional 10 hotels and general economic improvement in some of the Company’s markets. Adjusted EBITDA was $25.4 million for the first six-month period of 2012, a 27.2 percent increase over the same period in 2011.Subsequent Events On July 2, 2012, the Company purchased the 96 room Residence Inn by Marriott in Dallas (Arlington), TX. Including purchase price and anticipated improvements the Company acquired the hotel for $15.5 million. This is the second hotel acquired by the Company in the Dallas, TX sub-market of Arlington. Since its IPO in February, 2011, the Company has acquired 12 additional hotels, adding 1,336 additional guestrooms to its portfolio.
Summit Hotel Properties Reports Second Quarter Results
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