Summit Hotel Properties Completes Acquisition of 157-Room Marriott in Boulder, Colorado for $61.4 Million

Summit Hotel Properties | August 19, 2016

AUSTIN, Texas, Aug. 19, 2016 -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") announced today that on August 9, 2016, it completed the previously announced acquisition of the 157-guestroom Marriott® in Boulder, CO (the "Hotel") for a gross purchase price of $61.4 million and entered into a management agreement with Stonebridge Realty Advisors, Inc. "We are excited about the opportunity to add another high-quality hotel to our portfolio," said President and Chief Executive Officer, Daniel P. Hansen. "The asset has a number of unique attributes, including its compact size of 157 guestroom...