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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
Comment by 160kon Mar 02, 2011 3:42pm
191 Views
Post# 18221013

RE: RE: CANADIAN HOTELS IN DEMAND:

RE: RE: CANADIAN HOTELS IN DEMAND:For the capital that they are raising now, I am not sure what there would be available to Innvest as an accretive acquisition.  Some time ago, at the 2nd last AGM, I took the CEO aside and personally had a conversation with him.  At the time the Units of  Temple REIT were very low and subsequently, almost dropped off the radar screen at the lowest point of the crash.  I told him that they have only about 17million Units issued and outstanding and for next to nothing, Innvest could buy-out their entire operation of very high quality hotel assets, mainly catering to the employees and suppliers etc of the Oil Sands Projects all around Fort McMurray etc and elsewhere throughout Alberta and Saskatchewan.  Their occupancy is usually very long-term.  They run a very profitable business and their occupancy is directly correlated to the activity in the Oil Sands, naturally, but generally, their occupancy rate is better than 90%.  He felt that it was too high risk for Innvest but the diversification and cash flow that Temple would add would be immense.  Since then, Temple stock has managed to climb back into the 4$ range and looks like it will soon hit 5$.  I think that he missed a golden opportunity here to add something to the mix of hotel assets in the Innvest portfolio.  I don't know what else is out there unless Gibson decides to design-build something.
Bullboard Posts