SUMMIT HOTEL PROPERTIES COMPLETES $275 MILLION DELAYED DRAW TERM LOAN FINANCING

AUSTIN, Texas, March 31, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has successfully closed on a new $275 million senior unsecured term loan (the "Term Loan"). The Company expects to utilize future proceeds from the Term Loan to repay the majority of the Company's outstanding$287.5 million 1.50% Convertible Senior Notes maturing in February 2026. The Term Loan includes a delayed draw feature available to the Company through March 1, 2026, that wil ...