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Summit Hotel Properties Transitions Recent Acquisitions To New Management

Stocks in this article: INN

Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced the three recently acquired Southern California assets have transitioned and are now managed by Pillar Hotels & Resorts.

“We are delighted to expand our relationship with Pillar,” said Craig Aniszewski, Executive Vice President and Chief Operating Officer of Summit Hotel Properties. “We are confident the combination of experience and expertise among their team and our asset management team will help drive continued performance improvements while capturing the embedded growth among these properties and creating shareholder value.”

The Company previously had four hotels under Pillar Hotels & Resorts management. Pillar will now manage seven hotels with a total of 719 guestrooms for the Company.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused primarily on acquiring and owning premium-branded select-service hotels in the upscale and upper midscale segments of the lodging industry. As of July 11, 2014, the Company’s portfolio consisted of 90 hotels with a total of 11,353 guestrooms located in 22 states.

For additional information, please visit the Company’s website, www.shpreit.com and follow on Twitter at @SummitHotel_INN.

For additional information on Pillar Hotels & Resorts, please visit www.PillarHotels.com.

Copyright Business Wire 2010

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