SYSCO Corporation (NYSE:SYY), the foodservice provider reported better-than-expected Q1 earnings and revenue, both of which were higher from the same quarter last year. SYY reported fiscal Q1 for the quarter ended September 27 non-GAAP net income of $308.9 million, or $0.52 per adjusted share, beating the Capital IQ consensus estimate of $0.51 per share. For the same quarter last year, SYY reported net income of $287 million, or $0.49 per share. Revenue totaled $12.45 billion, beating the Cap IQ estimate of $12.40 billion, and up from $11.7 billion for Q1 2013. SYSCO Corporation (NYSE:SYY) last traded at $38.80 with a 52-week range of $32.11 to $43.40.Summit Hotel Properties Inc (NYSE:INN), a real-estate investment trust that invests in hotels, Monday reported it swung to a Q3 profit as revenue climbed more than expected, boosted by jumps in pro forma revenue per available room and pro forma occupancy, and the company raised its guidance for 2014 revenue per available room. Summit Hotel Properties Inc (NYSE:INN) posted net income attributable to common stockholders of $4.1 million, or $0.05 per diluted share, versus a loss in the prior-year period of $4.8 million, or $0.07 per diluted share. Those results include a loss of $58,000 from discontinued operations in the latest quarter and a loss of $3.3 million from discontinued operations in the prior-year period. The per-share comparison was also affected by a 25% jump in the number of shares outstanding.On an adjusted basis, funds from operations climbed to $25.7 million, or $0.30 per unit, up from $17.8 million, or $0.25 per unit, a year earlier. The per-share comparison was skewed by a 22% jump in weighted average diluted units. No analyst estimates were available for adjusted FFO via Capital IQ. Total revenue climbed to $109.3 million from $82.2 million a year earlier, topping seven analysts' mean estimate of $103 million, according to Capital IQ. Pro forma revenue per available room rose to $99.22, up 15% from the same period in 2013. Its pro forma average daily rate was $124.99, an increase of 7.4%, while pro forma occupancy was 79.4%, up 7.2%.It now expects 2014 pro forma RevPAR growth of 9% to 10%, to a range of $92 to $93, and same-store RevPAR growth of 8.5% to 9.5%, to a range of $83 to $84. It sees 2014 adjusted FFO per diluted unit of $0.93 to $0.95. For Q4, the REIT expects pro forma RevPAR growth of 5% to 7%, to a range of $84.50 to $86.50. Same-store RevPAR is seen up 6.5% to 8.5%, to a range of $75.50 to $77.50. It expects Q4 adjusted FFO per diluted unit in a range of $0.16 to $0.18.Hilton Worldwide Holdings Inc (NYSE:HLT) has announced that certain shareholders affiliated with The Blackstone Group have offered 90 million common shares. Hilton or any of its officers or directors, are not offering any shares for sale and will not receive any proceeds from this secondary offering. Shares of Hilton Worldwide Holdings Inc (NYSE:HLT) are trading near the high of its 52-week range of $20.55 to $25.95.
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