Resolution of the case allows the Company to bring closure to the dispute and focus directly on the development and growth of the eleven affected hotels as well as the other 62 hotels in its portfolio. “We are now in a much better position to execute our core strategy of owning the best brands in the best markets, as well as the positioning of select assets for the recycling of capital,” said Dan Hansen, the Company’s president and CEO. “With the re-branding process nearly complete for the 11 hotels, we are quite satisfied with the performance of the new brands and it solidifies our point that the change was not only necessary, but in the best interest of our shareholders. It certainly wasn’t the way we wanted to go about making these changes, but we believe the end result is an upgrade and improvement to our portfolio.”Re-branded Property Operating Performance
Summit Hotel Properties Announces Acquisitions And Dispositions, Resolution Of Arbitration With Choice Hotels
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