Jonathan Stanner, president and CEO of Summit Hotel Properties, Inc. (NYSE: INN), sat down for a video interview during Nareit’s REITweek: 2025 Investor Conference in New York City June 2-5.
Stanner discussed current travel trends and the company’s strategic financial positioning. He noted that early 2025 showed strong demand, but a slowdown began in March due to reduced government travel and policy uncertainty. Leisure travel remains stable, especially domestic "drive-to" trips, which are expected to offset a dip in international visitors this summer. Long-term, Stanner remains confident in travel as a secular growth industry.
On the financial side, Summit has strengthened its balance sheet, including a delayed draw term loan to cover upcoming convertible debt maturity, and secured $50 million to refinance a Miami mortgage. With no major maturities until 2027 and over $200 million in liquidity, the company is well-positioned for flexibility and stock buybacks. Regarding investment, Summit remains market-agnostic, focusing on undervalued opportunities, Stanner said.