Summit Hotel Properties Completes Sale of Holiday Inn Express & Suites in Irving, Texas for $10.5 Million

Summit Hotel Properties | June 1, 2016

AUSTIN, Texas, June 1, 2016 -- Summit Hotel Properties, Inc. (NYSE: INN) ("the Company") announced today that on May 13, 2016, it completed the sale of the Holiday Inn Express & Suites located in Irving (Las Colinas), Texas containing 128 guestrooms for a total sales price of $10.5 million. "We are very pleased to have sold this hotel at a price we believe validates the benefits of premium select-service hotels. With RevPAR nearly 30 percent below our portfolio's average, this sale demonstrates our commitment to enhancing portfolio quality," said President and Chief Executive Officer, Daniel P. Hansen. The sa...