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INN - Summit Hotel Properties: Ingredients For A Faster Recovery
Summit Hotel Properties Inc.
Hotel REITs, the likes of Summit Hotel Properties (INN) have been strongly hit by stay-at-home measures as a result of the pandemic with April being the worst period in terms of demand.
Hence, occupancy figures for the second quarter plus revenues obtained per room were down. On a more positive note, the executives have indicated that booking rates for June and July had seen an upward trend.
Also, two of Summit's brand partners, namely Hilton (HLT) and Marriott (MAR) have seen their stock prices recover to some extent from