Summit Hotel Properties, Inc. Increases Common Dividend for the First Quarter Ended March 31, 2023, Payable on May 31, 2023
April 27, 2023 at 05:30 pm EDT
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Summit Hotel Properties, Inc. announced that its Board of Directors has authorized, and the Company has declared, a cash dividend for the first quarter ended March 31, 2023, of $0.06 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The Company's first quarter common dividend represents an increase of $0.02 per share, or 50%, over the prior quarter's common dividend. The dividend is payable on May 31, 2023, to holders of record as of May 17, 2023.
Summit Hotel Properties, Inc. is a real estate investment trust. The Company is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 99 assets, 56 of which are wholly owned, with a total of 14,785 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. Its guestrooms operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt), and InterContinental Hotels Group (IHG). It holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Substantially, all of its assets are held by, and all of its operations are conducted through, the Operating Partnership.
SUMMIT HOTEL PROPERTIES, INC. 
