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Summit Hotel Properties Inc T.INN.UN


Primary Symbol: INN Alternate Symbol(s):  INN.PR.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
Post by 160kon Mar 16, 2010 6:36pm
297 Views
Post# 16890111

RE: southerncross1:

RE: southerncross1:Thank you.  I appreciate positive input.  I have personally attended the last 2 AGM's in downtown Toronto (SunLife Building).  I don't know about this year but maybe I will make the effort to be there again.  I have attended many other AGM's before with other investments, but I have never seen so many industry reps; analysts, and media reporters attend a meeting, as they do for the Innvest AGM.  It is usually a packed house.  Maybe it's the food (it is tremendous), I don't know, but the average guy sort of feels out of place at their meetings.  There are more professional people there than average unitholders...it is quite surprising.  But anyways, I think by June, we will know just what impact(s) a "stapled-REIT" will have on the unitholder and on the REIT,  as a whole, in general, going forward.  I think the market has sort of "okayed" the proposal, given the reaction in terms of volume and price rise increases.  Now that the uncertainty has been removed for the January 01, 2011 deadline, I think that new investors will start to turn to the REIT, while it is still cheap right now.  The hotels that were mentioned as being up "for sale", during the course of the teleconference, are the lower-end variety within the Choice Hotel chain.  I am glad to see the REIT move to dispose of the poorer performing ones.  With the cash that they have on hand, and will receive from the net proceeds of the eventual sale of these hotel assets, Innvest will be in a position to move on a higher quality acquisition.  I would like to see them design/build a beautiful hotel in the Victoria or Vancouver B.C. area, given that they have nothing there and given that as a result of the Winter 2010 Olympics there, many foreign investors have decided to purchase property in this region and have pushed values up sky-high.  I think that they (Innvest) could use a 5-Star Hotel in this area of Canada.  They will have the capital to build something very beautiful, if they wanted to.  Otherwise, I don't think that there is much in the way of standing high-quality hotel property around and up for sale in Canada, just right now.
Bullboard Posts