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Published August 12, 2012, 11:33 PM

SD-based lodging company shows increased profits

SIOUX FALLS (AP) — A South Dakota-based lodging investment company with hotels throughout the country is reporting increased profits in the second quarter of the year.

SIOUX FALLS (AP) — A South Dakota-based lodging investment company with hotels throughout the country is reporting increased profits in the second quarter of the year.

Summit Hotel Properties Inc., of Sioux Falls, says it increased its revenue per available hotel room by nearly 12 percent, to more than $70.

Officials attribute the numbers to a 5 percent increase in average daily rate and a more than 6 percent increase in occupancy.

Summit has 73 hotels in 20 states, primarily in urban markets.

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