At June 30, 2012, the Company had approximately $54.4 million of borrowings outstanding under the Credit Facility and approximately $32.7 million available to borrow. In August 2012, the Company increased the borrowing capacity of the Credit Facility by contributing to the borrowing base three additional hotel properties, the 90-room Courtyard by Marriott in El Paso, Texas, the 96-room Residence Inn in Arlington, Texas, and the 103-room Courtyard by Marriott in Arlington, Texas.At September 25, 2012, the Company had approximately $69.9 million of borrowings outstanding under the Credit Facility and approximately $40.8 million available to borrow.
Summit Hotel Properties To Acquire Ten Hotels, Including A Portfolio Of Eight From Hyatt
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.