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Summit Hotel Properties Announces Update On Fourth Quarter 2013 Earnings Release; Reaffirms 2013 Guidance

Stocks in this article: INN

Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced that it will report financial results for the fourth quarter and full year 2013 on Monday, March 17, 2014, before the market opens. The Company rescheduled the release of its earnings in order to provide additional time to complete its annual report on Form 10-K. The Company has rescheduled its quarterly conference call, which will now be held 30 minutes earlier than previously announced and will begin at 8:30 AM ET on Monday, March 17, 2014.

The Company also reaffirmed its previously announced fourth quarter and full year 2013 guidance today.

Fourth Quarter   Full Year
Low-end   High-end Low-end   High-end
Pro forma RevPAR $ 75.00   $ 76.50 $ 82.00   $ 84.00
Pro Forma RevPAR Growth 2.5% 4.5% 4.0% 6.0%
Same-store RevPAR $ 64.50 $ 66.00 $ 72.50 $ 74.00
Same-store RevPAR Growth 1.5% 3.5% 5.5% 7.5%
Adjusted FFO $ 10,300 $ 12,100 $ 57,900 $ 59,300
Adjusted FFO per diluted share $ 0.12 $ 0.14 $ 0.79 $ 0.81

The Company will conduct its quarterly conference call on Monday, March 17, 2014, at 8:30 AM ET. To participate in the conference call please follow the steps below.

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