Summit Hotel Properties, Inc.

The total construction cost for the Hyatt House hotel was $32.7 million, or approximately $194,500 per key.

The agreements to acquire the portfolio were previously announced on November 13, 2017.

Summit to acquire 5-hotel portfolio from Xenia.

The seven hotels in the Summit Portfolio consist of 651 keys and were acquired for an aggregate purchase price of

Capital recycling continues with the sale of one hotel for $14.5 million. 

Mr. Hansen has served as the company's President and Chief Executive Officer and been a member of the board since

The gross purchase price represents a capitalization rate of 8.2 percent on management's current estimate of the Hotel's 2017 net