AUSTIN, Texas, April 24, 2025 — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), announced today that its Board of Directors has approved, and the Company has announced, a cash dividend of $0.08 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company’s operating partnership, for the first quarter concluding March 31, 2025. Based on the closing price of the company’s common stock on April 23, 2025, the company’s first-quarter common dividend translates to an annualized dividend yield of 8.2 percent.

The Board of Directors has also given the green light to, and the Company has declared, a cash dividend of $0.390625 for each share of the Company’s 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period concluding on May 31, 2025. Furthermore, a cash dividend of $0.3671875 has been declared for each share of the Company’s 5.875% Series F Cumulative Redeemable Preferred Stock for the dividend period ending May 31, 2025.

In addition, the Board of Directors has authorized a cash distribution, and the Company has declared on behalf of the operating partnership, distributions of $0.328125 per unit pertaining to the operating partnership’s unregistered 5.25% Series Z Cumulative Perpetual Preferred Units for the distribution period that concludes on May 31, 2025.

The dividends are scheduled to be paid on May 30, 2025, to those who are registered holders as of May 16, 2025.

About Summit Hotel Properties

Summit Hotel Properties, Inc. operates as a publicly-traded real estate investment trust with a focus on owning premium-branded lodging properties. These properties feature efficient operating models and are primarily situated within the Upscale segment of the lodging industry. As of April 24, 2025, the Company’s holdings include 97 assets, 53 of which are wholly owned, comprising a total of 14,555 guestrooms spread across 25 states.

For more details, please visit the Company’s website, , and follow the Company on X, previously known as Twitter, at @SummitHotel_INN.

Forward Looking Statements

This press release includes “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, and is subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can typically be identified by the use of terms such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would” or similar expressions. These forward-looking statements pertain to the payment of dividends and are based on certain assumptions. They may include future expectations, plans, strategies, financial and operating projections, or other forward-looking information. These statements are subject to risks and uncertainties, some of which are not known to the Company and many of which are outside its control. Consequently, actual results may differ significantly from those projected. These risks and uncertainties include, but are not limited to, the condition of the U.S. economy, supply and demand dynamics within the hotel sector, and other factors detailed in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ending December 31, 2024. The Company is not obligated to update any forward-looking statements, whether due to new information, future events, or other reasons, unless legally required.

SOURCE Summit Hotel Properties, Inc.

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