Summit Hotel Properties traded at $5.59 this Friday September 11th, decreasing $0.08 or 1.41 percent since the previous trading session. Looking back, over the last four weeks, Summit Hotel Properties lost 7.45 percent. Over the last 12 months, its price fell by 2.78 percent. Looking ahead, we forecast Summit Hotel Properties to be priced at 5.55 by the end of this quarter and at 5.20 in one year, according to Trading Economics global macro models projections and analysts expectations.
Summit Hotel Properties, Inc. is a real estate investment trust (REIT). The Company is focused on owning premium-branded, select-service hotels primarily in the upscale segment of the United States lodging industry. The Company's portfolio consists of approximately 73 hotels, 61 of which are wholly-owned, with a total of approximately 11,398 guestrooms located in 23 states. The Company's hotels are located in markets, such as business and corporate headquarters, retail centers, airports, state capitols, convention centers and leisure attractions. The Company’s portfolio is located in urban and suburban markets. Its hotels operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt) and InterContinental Hotels Group (IHG).