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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Summit Hotel Properties, Inc. (NYSE:INN) Q4 2022 Results Conference Call February 28, 2023 9:00 AM ET Company Participants Adam Wudel - Senior Vice President of Finance, Capital Markets and Treasurer Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBank Capital Market William Crow - Raymond James Michael Bellisario - Robert W. Baird Operator Good day, and thank you for standing by. Wel ...

Ownership and Structure - The company owns approximately 87.0% of the Common Units in the Operating Partnership and all issued Series E and Series F Preferred Units[150]. - Stockholders' claims are structurally subordinated to all liabilities of the Operating Partnership, affecting their recovery in bankruptcy scenarios[149]. - The company has a 9.8% stock ownership limit in its charter, which may restrict market activity and business combination opportunities[176]. - To qualify as a REIT, at least 100 persons must beneficially own the company's capital stock for at least 335 days of a taxable year[176]. - The board of directors has the authority to revoke the company's REIT qualification without stockholder approval, which could lead to federal income tax liabilities[147]. Financial Performance and Risks - The cash available for distribution may not be sufficient to meet expected levels, potentially requiring the use of borrowed funds or other sources[153]. - The company may need to borrow funds or sell assets to satisfy REIT distribution requirements, which could adversely affect liquidity[164]. - Future issuances of debt securities may be senior to common and preferred stock, potentially diluting existing stockholders' interests[159]. - The company anticipates increasing regulation and scrutiny regarding ESG matters, which could lead to higher costs and negative investor sentiment[187]. - The company may face adverse effects on cash flows due to the timing differences between actual income receipt and income recognition for federal tax purposes[164]. Market and Economic Conditions - The market price of the company's stock may be volatile due to changes in market interest rates and the annual yield from distributions compared to other financial instruments[155]. - The U.S. economy experienced the highest inflation rate in 40 years during the year ended December 31, 2022, which could adversely affect operating costs and consumer demand for lodging[114]. - The lodging industry is sensitive to economic conditions, with declines in corporate budgets and consumer demand potentially lowering revenue and profitability[118]. - The company faces high competition from other hotels and alternative accommodations, which could adversely affect occupancy, average daily rate (ADR), and revenue per available room (RevPAR)[119]. Regulatory and Taxation Issues - The company must distribute at least 90% of its REIT taxable income to maintain its REIT status, or it will face federal corporate income tax[163]. - The formation of TRSs increases the overall tax liability, as they are subject to federal, state, and local income tax on their taxable income[165]. - The company is subject to a 100% prohibited transactions tax, which may limit its ability to dispose of properties and incur material tax liabilities[179]. - If any subsidiary REIT fails to qualify as a REIT, it could lead to higher taxes and jeopardize the company's REIT status[173]. - The company may be subject to adverse legislative or regulatory tax changes that could affect its operations and stock price[174]. Operational Challenges - The TRS Lessees are subject to increased lodging property operating expenses, which could adversely affect their ability to pay rent[166]. - The company selectively provides mezzanine financing to developers, exposing it to credit financing risk in case of borrower default[115]. - The outbreak of highly infectious diseases, such as COVID-19, could significantly reduce the number of guests visiting the company's lodging properties, adversely affecting operations[116]. - Ongoing capital expenditures are required for renovations and improvements at lodging properties, which may impact financial position and cash flows[123]. - Development of lodging properties involves risks related to timing and budgeting, which could adversely affect financial results[124]. Environmental and Social Governance (ESG) - The company has established a Corporate Responsibility program since 2017 to address ESG concerns, which may lead to increased costs and compliance obligations[185]. - The company faces risks from climate change, including increased costs and potential business interruptions due to natural disasters[182]. - Regulatory developments related to climate change may impose substantial monitoring and compliance costs on the company[183]. - Increasing scrutiny on ESG matters may lead to higher costs and potential negative publicity, impacting consumer preference and investor sentiment[185]. - Unfavorable ESG ratings could negatively affect the company's share price and access to capital[187]. Internal Controls and Governance - The company cannot guarantee it will remain qualified as a REIT, which could impair its ability to expand and raise capital[160]. - The company may face challenges in maintaining effective internal controls, which are critical for accurate financial reporting[151]. - The company’s charter limits stockholders' voting rights and makes it difficult to remove directors[144]. - The company relies on third-party information for its ESG efforts, which may be prone to errors and could adversely affect its sustainability goals[186]. - Cybersecurity risks, including potential breaches and system disruptions, could negatively impact the company's operations and financial results[105].

Summit Hotel Properties, Inc. (NYSE:INN) Q3 2022 Results Conference Call November 2, 2022 9:00 AM ET Company Participants Adam Wudel - Senior Vice President of Finance, Capital Markets and Treasurer Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and CFO Conference Call Participants Neil Malkin - Capital One Michael Bellisario - Baird Austin Wurschmidt - KeyBanc Operator Good day, and thank you for standing by. Welcome to the Summit Hotel Properties Q3, 2022 Conf ...

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 September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Summit Hotel Properties, Inc. (NYSE:INN) Q2 2022 Earnings Conference Call August 3, 2022 9:00 AM ET Company Participants Adam Wudel - SVP of Finance, Capital Markets and Treasurer Jon Stanner - President & CEO Trey Conkling - EVP & CFO Conference Call Participants Neil Malkin - Capital One Chris Woronka - Deutsche Bank Austin Wurschmidt - KeyBanc Capital Markets. Michael Bellisario - Baird Bill Crow - Raymond James Operator Thank you for standing by, and welcome to Summit Hotel Properties Second Quarter Fis ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Summit Hotel Properties, Inc. (NYSE:INN) Q1 2022 Earnings Conference Call May 4, 2022 9:00 AM ET Company Participants Adam Wudel - Senior Vice President of Finance, Capital Markets and Treasurer Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Michael Bellisario - Baird Daniel Tricarico - KeyBanc Bill Crow - Raymond James Disclaimer*: This transcript is designed to be used alongside the freely available audi ...

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 March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ...

Summit Hotel Properties, Inc. (NYSE:INN) Q4 2021 Earnings Conference Call February 24, 2022 9:00 AM ET Company Participants Adam Wudel - SVP, Finance & Capital Markets Jonathan Stanner - President, CEO & Director William Conkling - EVP & CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Michael Bellisario - Robert W. Baird & Co. Neil Malkin - Capital One Securities Chris Woronka - Deutsche Bank William Crow - Raymond James & Associates Operator Good day, and thank you for standing ...