Earnings Call Summary | Summit Hotel Properties Inc(INN.US) Q1 2024 Earnings Conference
Earnings Call Summary | Summit Hotel Properties Inc(INN.US) Q1 2024 Earnings Conference
The following is a summary of the Summit Hotel Properties, Inc. (INN) Q1 2024 Earnings Call Transcript:
以下是薩米特酒店地產公司（INN）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Summit Hotel Properties reported a 10% increase in adjusted EBITDA and a 14% rise in adjusted FFO compared to Q1 of the previous year.
Hotel EBITDA grew by 6%, indicating an 80 basis point margin expansion from Q1 the previous year.
Q1 2024 results noted a year-over-year increase of 1.5% in Pro forma RevPAR, surpassing the total US lodging industry and upscale chain scale by 130 and 140 basis points respectively.
Adjusted EBITDA for Q1 2024 totaled $48.8 million, marking a 10% year-over-year increase, while adjusted FFO was $30 million or $0.24 per share, up 14% from last year.
A reduction of $55 million was witnessed in the company's corporate credit facility balance, following the sales of assets in New Orleans and College Station.
The company's net debt-to-EBITDA fell by one turn over the last year, thanks to beneficial non-core asset sales and continued growth in hotel EBITDA.
Summit Hotel Properties報告稱，與去年第一季度相比，調整後的息稅折舊攤銷前利潤增長了10％，調整後的FFO增長了14％。
酒店息稅折舊攤銷前利潤增長了6％，表明利潤率比去年第一季度增長了80個點子。
2024年第一季度的業績顯示，預計RevPAR同比增長1.5％，分別超過美國住宿業和高檔連鎖店總規模130和140個點子。
2024年第一季度調整後的息稅折舊攤銷前利潤總額爲4,880萬美元，同比增長10％，而調整後的FFO爲3000萬美元，合每股0.24美元，比去年增長14％。
出售新奧爾良和大學城資產後，該公司的企業信貸額度餘額減少了5,500萬美元。
該公司的淨負債佔息稅折舊攤銷前利潤比去年下降了一圈，這要歸因於非核心資產的有利銷售和酒店息稅折舊攤銷前利潤的持續增長。
Business Progress:
業務進展：
As part of Summit Hotel Properties' strategy, three more assets were sold, leading to an updated 2024 guidance range.
The lagging markets of San Francisco Bay Area, New Orleans, Baltimore, Minneapolis, and Louisville recorded 12% RevPar growth and 44% hotel EBITDA growth, signaling increased future growth potential.
An increase of $0.02 per share in the common dividend was approved by the board, reaching $0.08 per share or $0.32 per share on an annual basis. This reflects a 33% increase in efforts to prioritize capital returns to shareholders.
The company's urban and suburban portfolios emerged as key performers, each presenting around 2.5% RevPAR increase in Q1.
Owing to strong passenger growth and positive comments from major carriers about corporate transient demand and a promising summer travel season, the company's airport hotels were among the top performers.
The company maintains its full-year guidance for RevPAR growth of 2% to 4% and an adjusted EBITDA range of $188 million to $200 million.
As part of its ongoing strategic asset sales, the company is liquidating non-core assets that would require a substantial renovation capital.
Operating expenses have risen by about 2.5% in Q1 2024, and there is a continuous progression on the contract labor front.
Despite the substantial rise in renovation costs, the company strives to maintain a well-maintained portfolio to avoid deferred CapEx buildup. The company is also optimistic about potential cost decreases.
作爲峯會酒店地產戰略的一部分，又出售了三項資產，從而更新了2024年的指導區間。
落後的舊金山灣區、新奧爾良、巴爾的摩、明尼阿波利斯和路易斯維爾的市場實現了12％的RevPAR增長和44％的酒店息稅折舊攤銷前利潤增長，這表明未來的增長潛力增加。
董事會批准將普通股股息每股增加0.02美元，達到每股0.08美元，每年每股0.32美元。這反映了優先向股東提供資本回報的努力增加了33％。
該公司的城市和郊區投資組合成爲主要表現者，第一季度每個投資組合的RevPAR增長了約2.5％。
由於強勁的客運增長以及主要航空公司對企業臨時需求的積極評價，以及令人鼓舞的夏季旅行季，該公司的機場酒店位居表現最佳之列。
該公司維持其全年RevPAR增長預期爲2％至4％，調整後的息稅折舊攤銷前利潤區間爲1.88億美元至2億美元。
作爲其持續戰略資產出售的一部分，該公司正在清算需要大量翻新資金的非核心資產。
2024年第一季度的運營費用增長了約2.5％，合同勞動力方面持續取得進展。
儘管裝修成本大幅上升，但該公司仍努力維持良好的投資組合，以避免資本支出延遲積累。該公司還對潛在的成本下降持樂觀態度。
More details: Summit Hotel Properties Inc IR
更多詳情： 薩米特酒店地產公司投資者關係
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。