Summit Hotel Properties Completes Acquisition of Embassy Suites by Hilton Tucson / Paloma Village

Summit Hotel Properties | January 5, 2022

AUSTIN, TX - January 5, 2022 - Summit Hotel Properties, Inc. today announced that it completed the acquisition of the 120-guestroom Embassy Suites by Hilton Tucson / Paloma Village for $25.5 million through its joint venture with GIC on December 21, 2021. The investment represents a high-quality, market-leading hotel in a rapidly growing market. The property's excellent location and dominant Embassy Suites brand affiliation have allowed the hotel to consistently rank at the top of its competitive set, commanding an average RevPAR Index of nearly 150% over the last five years. While occupancy and ADR in the Tucson market are historically st...