Summit Hotel Properties (INN) Investor presentation summary

Business overview and portfolio

• Operates 94 lodging assets with 14,226 guestrooms, primarily in upscale and upper midscale segments, across 41 markets with 76% urban and suburban exposure.

• Portfolio is diversified with no single asset contributing more than 3% to EBITDA; 87% of rooms are in top 50 U.S. markets.

• Partners with leading brands such as Marriott, Hilton, and Hyatt, offering premium select service, extended stay, and lifestyle hotels.

Operating model and performance

• Focuses on an efficient, rooms-driven operating model, leveraging in-house revenue management, asset management, and design/construction expertise.

• Achieved a 3.3% CAGR in RevPAR over 12 years, outperforming the STR Upscale benchmark by 110 basis points.

• 2025 operating expense growth was limited to 2.1%, with a 43% GOP margin and trailing 12-month hotel EBITDA margin of 33.4%, outperforming peers.

Investment strategy and capital allocation

• Employs a targeted capital allocation strategy, focusing on acquisitions in high-growth markets, value-add opportunities, and capital recycling.

• Joint venture with GIC enhances external growth and provides a fee stream that reduces overall cost of capital.

• Recent acquisitions delivered a 390 bps NOI yield premium and 70% RevPAR premium over dispositions, while avoiding $60M in capex.

• $250M invested in capex over three years, with renovations driving significant market share gains post-completion.