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Summit Hotel Properties had a strong third quarter, with RevPAR up 7.2% from last year and raised its yearly forecast.

ResultsRead the original at Benzinga
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Summit Hotel Properties saw higher hotel revenue and profit, then raised its full-year forecasts. Further property sales or purchases are still under review, but stronger results and forecasts support a favorable reading.

INN · Summit Hotel Properties

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The AI's read

More guests and higher room prices helped lift hotel profit, and cost controls helped too. The company also reported about $350 million available and no debt due until 2028, giving it room to support its plans. Further property sales or purchases are still under review, so those possible moves have not produced results yet.

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