Summit Hotel Properties Inc Acquires Three Hotels

Summit Hotel Properties Inc announced the closing of three additional hotel acquisitions: 178-room Residence Inn by Marriott in Salt Lake City, UT for a purchase price of $20.0 million. The acquisition of this property was announced September 26, 2012 concurrent with the Company`s offering of common stock and the purchase closed on December 21,2012. 122-room Hyatt Place in Long Island (Garden City), NY for a purchase price of $31.0 million. The purchase of this hotel closed December 27, 2012. 138-room Hampton Inn & Suites in Tampa, FL for a purchase price of $20.8 million. The purchase of this hotel closed December 27, 2012. The Company also announced the closing on December 11, 2012 of the sale of the 92-room Courtyard by Marriott hotel in Missoula, Montana for a price of $7.65 million.