Summit Hotel Properties Investor Presentation Deck
20
Targeted Capital Allocation Strategy with Proven Track Record of
External Growth and Capital Recycling
Recent Acquisitions Highlight
# of Assets
# of
Guestrooms
Date of
Acquisition
Gross
Purchase Price
Price
Per Key
Est. Stabilized
Yield (3)
Summit
Same Store (1)
71
11,120
2021
Acquisitions
2
230
2H
2021
$59M
$254K
10-11%
NCI
Portfolio
27
3,709
Q1
2022
$822M
$209K (2)
8-9%
(1) Based on the 71 same store hotels owned as of December 31, 2022.
(2) Based on the hotel purchase price exclusive of the parking structures and incentives.
(3)
Est. stabilized yields based on full year underwritten NOI in 2024. Onera est. based on year 1 stabilized yields.
(4) Onera yield based on the initial investment amount of $5 million.
AC / Element
Miami
2
264
Q2
2022
$89M
$337K
8-9%
Onera
Fredericksburg
1
11
Q4
2022
$5M
$455K
15-17% (4)
Summit
Pro Forma
103
15,334
Key
Highlights
45%
Growth
38%
Growth
Active Early
in Cycle
~$975M
Invested
Attractive
Basis of
$220K / Key (2)
Strong
Stabilized
Yields
SUMMIT
HOTEL PROPERTIESView entire presentation