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INN - Summit Hotel: The Road To Recovery Is Underway
Summit Hotel Properties Inc.
Investment Thesis
Summit Hotel Properties (INN) had a poor Q1 2020 due to the outbreak of COVID-19 that started towards the end of the quarter. Fortunately, the outlook of the hotel industry in the U.S. has improved quite a bit as the industry's occupancy ratio has improved from the low 20s in April to the low 40s in mid-June. We think Summit Hotel's business will continue to improve through the summer months of July and August. The company has taken initiatives to reduce its expenses and should have enough liquidity to go through