Summit Hotel Properties to Acquire Five-Hotel Portfolio from Xenia for $163 Million

Summit Hotel Properties | June 5, 2017

AUSTIN, Texas, June 5, 2017 -- Summit Hotel Properties, Inc. (NYSE: INN) ("Summit") and Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia") today announced that the companies have executed a definitive agreement for an affiliate of Summit to acquire an 812-guestroom, five-hotel portfolio from Xenia for a total purchase price of $163 million, or approximately $201,000 per key. The portfolio includes the 203-guestroom Courtyard Fort Worth Downtown/Blackstone, the 123-guestroom Courtyard Kansas City Country Club Plaza, the 182-guestroom Courtyard Pittsburgh Downtown, the 116-guestroom Hampton Inn & Suites Baltimo...