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Summit Hotel Properties Inc T.INN.UN


Primary Symbol: INN Alternate Symbol(s):  INN.P.F

Summit Hotel Properties, Inc. is a real estate investment trust. The Company is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 96 assets, 54 of which are wholly owned, with a total of 14,256 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. Its guestrooms operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt), and InterContinental Hotels Group (IHG). It holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Substantially, all of its assets are held by, and all of its operations are conducted through, the Operating Partnership.


NYSE:INN - Post by User

Bullboard Posts
Comment by geordiemartinon Oct 26, 2005 7:19pm
54 Views
Post# 9771953

RE: Industry

RE: IndustryAs a long, I hope that INN.UN has a good quarter also. But I don't really see the correlation with LGY.UN LGY appeals to the "high end" of the market catering to the moneyed classes. I suspect they have a lot of American and Asian guests along with businessmen / women. Additional money can be made from restaurants, gift shop rentals, etc. For this to work they need a weak Cdn dollar (get the foreign tourists in) and a situation where people really feel like spending a lot of money and companies are doing well. INN appeals to the "lower end" of the market - many of their guests drive to their locations. Suspect that they attract people more from Canada than abroad. Rural locations possibly service hunting /fishing excursions - urban customers probably salesmen. For the most part, INN does not offer food as an additional revenue source. My guess is that INN will do better in a less robust economy when people are spending less on holidays. High gas prices will hurt them more than LGY. Throwing a stale doughnut at customers and calling it free breakfast just doesn't cut it anymore. As customer expectations rise, they are starting to install free breakfast stations serving cereal & juice and more. More expense and no extra money for it. I think we have smart management at INN, example: starting to buy Holiday Inns with their restaurant revenue to get extra cash over room rates. Although I have only owned for two years, believe that this trust has maintained distributions through thick and thin (SARS, etc.) If they can survive poor overall conditions for their industry - they should do well as their cycle improves. But we will know soon enough. Geordie.
Bullboard Posts