Summit Hotel Properties, Inc. (NYSE:INN) Q4 2019 Earnings Conference Call February 26, 2020 9:00 AM ET Company Participants Adam Wudel - SVP, Finance & Capital Markets Daniel Hansen - Chairman, President & CEO Jonathan Stanner - EVP, CFO & Treasurer Conference Call Participants Michael Bellisario - Robert W. Baird & Co. William Crow - Raymond James & Associates Austin Wurschmidt - KeyBanc Capital Markets Wesley Golladay - RBC Capital Markets Neil Malkin - Capital One Securities Chris Woronka - Deutsche Bank ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35074 SUMMIT HOTEL PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 27-2962512 (State or other jurisdiction (I. ...

I N V E S T O R P R E S E N T A T I O N N O V E M B E R 2 0 1 9 | N Y S E : I N N Forward-Looking Statements We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may ...

Financial Data and Key Metrics Changes - The company reported pro forma RevPAR growth of 0.2% for Q3 2019, driven by a 1% increase in occupancy, partially offset by a 0.8% decrease in rate [7] - Year-to-date RevPAR growth of 1.7% in the pro forma portfolio compares favorably to industry growth of 1% and upscale growth of negative 0.5% [19] - Adjusted EBITDAre decreased 8.8% to $45.2 million, and adjusted FFO per share decreased 10.1% to $0.31 per share, primarily driven by year-to-date disposition activity [27][28] Business Line Data and Key Metrics Changes - The same-store portfolio posted a RevPAR decline of 0.1%, driven by a 0.9% increase in occupancy and a 1% decrease in rate [10] - The company’s hotels were successful in growing group business, with group night room demand up 18.6% compared to Q3 2018 [16] Market Data and Key Metrics Changes - Strongest performing markets included Phoenix, Louisville, Indianapolis, and Boulder, with Phoenix hotels posting a combined RevPAR increase of 26.7% [11] - In Louisville, the two hotels posted combined RevPAR growth of 21.5%, driven by a shift towards higher-rated group and retail business [13] - Indianapolis hotels posted average RevPAR growth of 10.6%, outpacing the overall market by 470 basis points [15] Company Strategy and Development Direction - The company continues to focus on capital recycling to support external growth, closing on the acquisition of five hotels for a total purchase price of $276.9 million [21] - The company plans to invest $23 million in renovation capital over the next couple of years for newly acquired assets [56] - The company aims to maintain a net debt to trailing adjusted EBITDAre ratio of approximately 4.7 times, focusing on recycling capital for growth [34][42] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the portfolio's relative outperformance compared to the broader industry, despite a challenging operating environment [6] - The company anticipates a headwind of about 40 basis points for the full year of 2019 due to the recent acquisitions, but expects these acquisitions to be a tailwind in 2020 [90] - Management noted that property tax increases are expected to be mid-single digits for the upcoming year [97] Other Important Information - The company declared a quarterly common dividend of $0.18 per share for Q3 2019, resulting in an AFFO payout ratio of approximately 58% [35] - The company invested $14.1 million into its portfolio during Q3 2019, with a year-to-date investment of $46.7 million [22][23] Q&A Session Summary Question: How should the balance between growing the joint venture and managing leverage levels be viewed? - Management indicated a focus on maintaining a leverage range of 3.5 to 4.5 times, with capital growth funded through recycling [42] Question: What is the growth profile for the newly acquired assets? - Management believes the assets are well-located and will benefit from significant capital investment, projecting considerable upside post-renovation [56] Question: How is the company achieving attractive valuations on the Birmingham assets? - Management clarified that the assets have performed well and the buyer's profile allows for different value perceptions compared to public companies [62] Question: What are the trends in demand drivers for leisure and business segments? - Management noted that weekday RevPAR outperformed weekend RevPAR by about 250 basis points, with some weaknesses observed in the leisure segment [67] Question: How does the company view supply in its markets for the next year? - Management expects supply growth to remain consistent with the current year, around 2% for the industry [57] Question: What is the impact of the new acquisitions on overall RevPAR growth? - Management indicated a potential negative impact of about 40 basis points for 2019 but expects the acquisitions to contribute positively in 2020 [90]

FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ For the transition period ...

Summit Hotel Properties, Inc. (NYSE:INN) Q2 2019 Earnings Conference Call August 1, 2019 9:00 AM ET Company Participants Adam Wudel - Senior Vice President, Finance & Capital Markets Dan Hansen - Chairman, President & Chief Executive Officer Jon Stanner - Executive Vice President & Chief Financial Officer Conference Call Participants Bill Crow - Raymond James Neil Malkin - Capital One Amanda Sweitzer - Baird Wes Golladay - RBC Capital Markets Chris Woronka - Deutsche Bank Austin Wurschmidt - KeyBanc Markets ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

I N V E S T O R P R E S E N T A T I O N J U N E 2 0 1 9 | N Y S E : I N N Forward-Looking Statements We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," or si ...

Summit Hotel Properties, Inc. (NYSE:INN) Q1 2019 Earnings Conference Call May 2, 2019 9:00 AM ET Company Participants Adam Wudel - Senior Vice President, Finance & Capital Markets Dan Hansen - Chairman, President & Chief Executive Officer Jon Stanner - Executive Vice President & Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Wes Golladay - RBC Capital Markets Bill Crow - Raymond James Michael Bellisario - Baird Operator Good day ladies and gentlemen and than ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...