Summit Hotel Properties Appoints Greg A. Dowell Executive Vice President and Chief Financial Officer

AUSTIN, Texas--()--Summit Hotel Properties (NYSE:INN) (“the Company”) announced today that Mr. Greg A. Dowell has been appointed Executive Vice President, Chief Financial Officer and Treasurer effective October 1, 2014. Mr. Dowell will succeed Mr. Paul Ruiz, who has served as interim Chief Financial Officer since May of 2014. Mr. Ruiz will continue to serve in his present position as Vice President and Chief Accounting Officer.

“We are extremely pleased to have Greg join our Summit management team. He brings extensive and valuable experience with public company REITs, specifically in finance, accounting, capital markets and operations,” said Daniel Hansen, President and Chief Executive Officer of Summit Hotel Properties. “His expertise and proven leadership will greatly enhance our systems and processes as we continue to execute our strategy.”

Most recently, Dowell held the position of Senior Executive Vice President and Chief Operating Officer at American Campus Communities (NYSE:ACC). During his thirteen-year tenure, Dowell managed all aspects of operations, facilities management, human resources, information technology and various aspects of accounting and systems development. He played a key role in the development of ACC’s specialized operating platform which facilitated American Campus Communities becoming the first student housing REIT to be publicly traded in 2004. Since ACC's initial public offering, Mr. Dowell orchestrated the successful integration of more than $2.8 billion in asset growth and during his career has overseen the management of over 44 million square feet of residential and mixed-use real estate comprised of over 300 communities.

Prior to joining ACC in 2001, Dowell spent ten years in progressive capacities with Century Development where he began as an accountant and ultimately served as Senior Vice President of Management Services over the student housing portfolio.

Mr. Dowell received his B.S. in Accounting from the University of Louisiana at Lafayette and is a Certified Public Accountant.

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 September 11, 2014, the Company’s portfolio consisted of 90 hotels with a total of 11,380 guestrooms located in 21 states.

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

Forward Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Summit Hotel Properties, Inc.
Elisabeth Eisleben, 512-538-2306
Director of Investor Relations
eeisleben@shpreit.com

Contacts

Summit Hotel Properties, Inc.
Elisabeth Eisleben, 512-538-2306
Director of Investor Relations
eeisleben@shpreit.com