SIOUX FALLS, S.D.--(BUSINESS WIRE)--
Summit Hotel Properties, Inc. (NYSE: INN), a real estate investment
trust (REIT) specializing in the ownership of premium-branded hotels in
the upscale and upper midscale segments, today announced that the
company declared a cash dividend of $0.20556 per 9.25% Series A
Cumulative Redeemable Preferred Stock for the period beginning on
settlement of the preferred issue on October 28, 2011 and ending
November 30, 2011.
The dividend is payable November 30, 2011 to holders of record as of
November 21, 2011 and represents an annualized dividend rate of $2.3125
per share.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a self-advised real estate investment
trust focused on acquiring and owning premium-branded select-service
hotels in the upscale and upper midscale segments. As of November 10,
2011, the company’s hotel portfolio consisted of 70 hotels with a total
of 7,099 guestrooms located in 19 states. Additional information about
Summit may be found at the company’s website, www.shpreit.com.
Forward Looking Statement
Certain matters within this press release are discussed using
forward-looking language as specified in the Private Securities
Litigation Reform Act of 1995, and, as such, may involve known and
unknown risks, uncertainties and other factors that may cause the actual
results or performance to differ from those projected in the
forward-looking statement. These forward-looking statements include
statements related to the company’s ability to continue to execute its
strategy by selectively expanding the portfolio while continuing to
maximize the operating results of its existing portfolio. For a
description of factors that may cause the company’s actual results or
performance to differ from its forward-looking statements, please review
the information under the heading “Risk Factors” included in the
company’s Annual Report on Form 10-K for the year ended December 31,
2010, as filed with the Securities and Exchange Commission.
(Media)
Daly Gray Public Relations
Jerry Daly, Carol McCune
(703)
435-6293
jerry@dalygray.com
or
(Investors)
Summit
Hotel Properties, Inc.
Dan Boyum – VP of Investor Relations
(605)
782-2015
dboyum@shpreit.com
Source: Summit Hotel Properties, Inc.