Summit Hotel Properties to Acquire Four Hotels Totaling 652 Guestrooms for $164 Million, or Approximately $252,000 Per Key

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of November 13, 2017, the Company's portfolio consisted of 79 hotels with a total of 11,590 guestrooms located in 24 states.

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

Contact: Adam Wudel, SVP - Finance & Capital Markets

(512) 538-2325

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. Examples of forward-looking statements include the following: the anticipated closing date of the acquisitions; projections of the acquisitions' net operating income and capital expenditures for 2018; and descriptions of the Company's plans to enter into franchise agreements and make capital improvements with respect the acquisitions. 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"). Unless legally required, the Company disclaims any obligation to update information contained in this press release, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures This press release includes certain non-GAAP financial measures as defined under Securities and Exchange Commission (SEC) rules and regulations. These measures are not in accordance with, or an alternative to, measures prepared in accordance with U.S. generally accepted accounting principles("GAAP"), and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the hotel's results of operations determined in accordance with GAAP.

The Company has not provided a reconciliation of the trailing twelve month EBITDA to net income, the most comparable GAAP measure, for the prospective acquisitions, because the information required to prepare the reconciliation, such as depreciation and amortization expense, is not available from  the seller.  The EBITDA and net operating income information provided in this press release was obtained from the seller during the due diligence process and has not been adjusted by us or audited or reviewed by the Company's independent auditors.