SUMMIT HOTEL PROPERTIES REPORTS THIRD QUARTER 2024 RESULTS
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Summit Hotel Properties reported its third quarter 2024 results, highlighting a third consecutive quarter of Adjusted FFO growth. The company sold the Four Points San Francisco Airport Hotel for $17.7 million after the quarter ended. Despite moderate top-line growth due to Hurricane Helene disruptions, the company's capital recycling strategy proved effective.
November 05, 2024 | 12:30 pm
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Summit Hotel Properties reported a successful third quarter with continued Adjusted FFO growth, despite moderate top-line growth due to Hurricane Helene. The sale of the Four Points San Francisco Airport Hotel for $17.7 million post-quarter end is a strategic move in their capital recycling program.
The company's third consecutive quarter of Adjusted FFO growth indicates strong financial performance. The sale of a hotel for $17.7 million is a positive strategic move, enhancing their capital recycling program. Despite hurricane disruptions, the overall impact is positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100