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JUNE 2025 – Austin Downtown – Miami Brickell
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2 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 o bjectives. When we use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,” or similar expressions, we inte nd to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward -looking by their nature: • our ability to increase our dividend per share of common stock; • the state of the U.S. economy generally or in specific geographic regions in which we operate, and the effect of general eco nomic conditions on the lodging industry and our business in particular; • market trends in our industry, interest rates, real estate values and the capital markets; • our business and investment strategy and, particularly, our ability to identify and complete hotel acquisitions and dispositi ons; • our projected operating results; • actions and initiatives of the U.S. government and changes to U.S. government policies and the execution and impact of such a ctions, initiatives and policies; • our ability to manage our relationships with our management companies and franchisors; • our ability to maintain our existing and future financing arrangements; • changes in the value of our properties; • the impact of and changes in governmental regulations, tax law and rates, accounting guidance and similar matters; • our ability to satisfy the requirements for qualification as a REIT under the U.S. Tax Code; • our ability to repay or refinance our indebtedness as it matures or becomes callable by lenders; • the availability of qualified personnel; • our ability to make distributions to our stockholders in the future; • the general volatility of the market price of our securities; and • the degree and nature of our competition. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account information currently available to us. You should not place undue reliance on these forward -looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. These factors are discussed under “Item 1A. Ris k Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, and in other documents we have filed with the Securities and Exchange Commiss ion. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in ou r forward-looking statements. Any forward-looking statement is effective only as of the date on which it is made. New risks and uncertainties arise over time , and it is not possible for us to predict those events or how they may affect us. Except as required by law we are not obligated to, and do not intend to, p ublicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, this presentation contains certain unaudited historical and pro forma information and metrics which are based o r calculated from historical data that is maintained or produced by Summit or third parties. This presentation contain statistics and other data that may have been obtained from, or compiled from, information made available by third-parties.
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3 (NYSE: INN) 1. Based on 97 lodging assets owned as of May 29, 2025. 2. Based on guestroom count for the 97 lodging assets owned as of May 29, 2025. 3. Based on pro forma financials for the twelve months ended March 31, 2025. 4. Based on STR data for the twelve months ending March 31, 2025. 5. Consolidated capital investment over the past 3 years Marriott, Hyatt, Hilton (2) Portfolio RevPAR Index (1,4) Guestrooms (1) Q1 2025 Operating Expense Growth (3) Lodging Assets (1) Top 50 Markets (2) GOP Margin (1,3) Upscale and Upper Midscale (1) Markets (1) Urban and Suburban Exposure (2) Liquidity (Revolver availability + Cash)(3) Fixed Rate Capital Structure Including Preferred (3) Unencumbered Hotels (1,3) 3-year Capex Investment (5)
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SUMMIT 4 – Houston Downtown
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5 • Same store Occupancy: 72.5% (+0.8%); ADR: $174 (+0.7%); RevPAR: $126 (+1.5%) • Urban RevPAR increased 3% for the quarter driven by 7% Urban RevPAR growth in January and February • Group RevPAR increased ~10% for the quarter driven by 17% group RevPAR in Urban markets • Operating expenses increased only 1.5% • Aggregate hotel EBITDA margin contraction of 15 basis points over the past 5 quarters despite modest RevPAR growth validates the efficient operating model • Continued progress in reducing contract labor and employee turnover • Completed $275 million delayed draw term loan to refinance the majority of convertible notes maturing in February 2026; preserves cash flow by allowing the Company to benefit from 1.5% convertible note coupon through maturity • Liquidity >$310 million; weighted avg. interest rate of ~4.7%; ~76% of capital structure fixed after giving effect to swap portfolio; no maturities until 2027 • Refinanced $45 million AC/Element Brickell loan with new $58 million loan maturing in 2030; Interest rate of SOFR + 260bps represents 40 bps savings in spread • Authorized $50 million share repurchase program to opportunistically return capital to shareholders – Orlando Universal • Quarterly cash dividend rate of $0.08 per share representing a 7.3% annualized dividend yield as of May 29th
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6 – New Haven at Yale 1. Summit based on the pro forma financials for the trailing 15 months ending March 31, 2025, for the 97 lodging assets owned as of March 31, 2025. 2. Select-service peer data based on the financials for the trailing 15 months ending March 31, 2025, for comparable portfolio revenue and hotel EBITDA reported for the following peers: APLE, CLDT, and RLJ. 3. Full-service peer data based on the financials for the trailing 15 months ending March 31, 2025, for comparable portfolio revenue and hotel EBITDA reported for the following peers : AHT, BHR, DRH, HST, PK, PEB, RHP, SHO, and XHR. Trailing 15-Month Hotel EBITDA Margin Change as of Q1 2025 35.6% 32.0% 29.1% 28.5% 35.8% 33.2% 29.7% 29.1% Summit Select-Service Peers All Peers Full-Service Peers 2025 T5 Quarters 2024 T5 Quarters (1) (2) (3)
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7 1. Based on pro forma guestrooms for the 97 lodging assets owned as of May 9, 2025. 2. Based on pro forma financials for the 84 comparable lodging assets owned as of May 9, 2025. 57% 83% 89% 91% 84% 103% 105% 105% 67% 91% 96% 97% FY 2021 FY 2022 FY 2023 FY 2024 Opportunity exists for continued further RevPAR acceleration and improvement in weekday performance as the urban location type is driven by growth in business transient and group demand 48% 25% 12% 11% 4%% of Portfolio by STR Location (1) Urban Suburban Airport Resort Other 84 Hotel Comparable Portfolio RevPAR Recapture vs 2019 (2) Weekday Weekend Comparable FY 2024 Comparable RevPAR (2) Weekday Weekend RevPAR Growth vs FY 2023 2% 0% RevPAR Recapture vs FY 2019 91% 105% – Houston Downtown RevPAR YoY RevPAR YoY RevPAR YoY RevPAR YoY
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Recent Acquisitions Recent Dispositions Guestrooms 565 1,347 Price ($M) $139 $148 Year 1 Capex ($M) $2 $47 Year 1 RevPAR $143 $85 (3) NOI Cap Rate 8.5% (1) 4.6% (2) 8 1. Based on 2024 Net Operating Income. 2. Based on the trailing twelve-month Net Operating Income immediately prior to sale. 3. Based on the trailing twelve-month RevPAR immediately prior to sale. Acquisitions completed in 2023 and 2024 generated a nearly 400 basis point positive NOI yield spread and a RevPAR premium of approximately 70% compared to dispositions over the same period, while also enabling the company to avoid approximately $50 million in capital expenditures +70% Premium +400 bps Foregone Capex
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SUMMIT 9 – Dallas Frisco Station
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10 – Oklahoma City Bricktown Efficient operating model & best-in- class platform drives profitability Premier portfolio with broad geographic diversification and concentration in high growth sun belt markets Targeted capital allocation strategy with proven track record of external growth and capital recycling Well-positioned balance sheet and liquidity profile
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11 • Consistent on-site presence and collaboration with local management • Industry benchmarking and data analysis • Analyzing forward-looking data to proactively manage demand patterns • Flexible and favorable management terms across eleven different management companies • High degree of engagement with key management company personnel • Use of independent platforms eliminates conflicts of interest • Intensive asset management process provides better oversight and accountability of management companies • Exhaustive due diligence approach facilitates value creation • Deep network of industry relationships facilitates off market transactions • Leverage in-house asset management and design & construction to optimize market positioning and capital investment • Partnership with GIC facilitates expanded acquisition opportunities and enhanced underwriting rigor • Selective mezzanine financing program with purchase options expands our shadow pipeline • Continuous renovation planning and oversight to ensure minimum revenue displacement • Cost savings driven by fewer outsourcing needs for renovation activity • In-house design leads to more customized renovations which drives higher ROIs on capital investments • Business intelligence tools facilitate real- time data analytics • Data analytics used to implement revenue and asset management strategies designed to maximize hotel profitability Summit’s operating platform is built on its expertise and experience in revenue and asset management, design and construction, and capital allocation all underpinned by robust business intelligence and data analytics
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12 • Rooms revenue driven model enhances GOP and EBITDA margins • Restructuring of the operating model during the pandemic leads to lower FTE run rate going forward • Proprietary, in-house revenue management platform partners with management companies to more effectively yield manage the portfolio and drive profitability • Complexing of management and sales teams across the portfolio creates both revenue and expense synergies • Utilization of best practices from multiple hotel management partners drives operational efficiencies • Strong connectivity, representation and influence with all major brand partners through leadership roles on owner advisory councils – Atlanta Downtown
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13 – Fort Worth Downtown Blackstone 1. Based on the Smith Travel Research Lodging Review RevPAR growth and growth in the pro forma RevPAR reported by Summit in each applicable year. Cumulative RevPAR Growth: Summit Pro Forma Portfolio vs. STR Upscale (1) -60% -40% -20% 0% 20% 40% 60% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Cumulative RevPAR Growth Summit STR Upscale Summit has a track record of outperformance with cumulative RevPAR growth exceeding the STR Upscale chain scale benchmark by a 130-basis point CAGR over the past 11 years
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14 Average Full Time Employee Count by Hotel 1. Based on the pro forma financials for the trailing 12 months ending December 31, 2019; September 30, 2022; and March 31, 2025, for the 97 lodging assets owned as of March 31, 2025. Trailing 12-month contract labor as a % of total labor (1) Labor expense as a percentage of total revenue has remained stable over time, reflecting disciplined cost management and operational consistency by our third-party management companies. While overall labor costs have held steady, our third-party managers have shifted the workforce composition—reducing reliance on contract labor and increasing investment in full-time employees. A more efficient, stabilized labor structure will allow the Company to drive flowthrough as revenue increases. 35 28 2019 2025 8% 18% 10% FY 2019 Peak COVID Q1 2025
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15 – Atlanta Downtown 1. Summit based on the pro forma financials ending March 31, 2025, for the 97 lodging assets owned as of March 31, 2025. 2. Select-service peer data based on the financials ending March 31, 2025, for comparable portfolio revenue and hotel EBITDA reported for the following peers: APLE, CLDT, and RLJ. 3. Full-service peer data based on the financials ending March 31, 2025, for comparable portfolio revenue and hotel EBITDA reported for the following peers : AHT, BHR, DRH, HST, PK, PEB, RHP, SHO, and XHR. Q1 2025 Hotel EBITDA Margin Change 35.6% 29.3% 29.1% 29.0% Summit Select-Service Peers All Peers Full-Service Peers (1) (2) (3)
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16 No single asset contributes more than 3% to our portfolio, and Dallas-Fort Worth is the only market that contributes >8%. Each individual Dallas submarket contributes <5%. (1) U.S. Markets # of Rooms % of Portfolio (2) Top 25 9,402 65% Top 50 12,515 86% Sun Belt 8,898 61% Urban 6,949 48% Total 14,556 100% 1. Based on trailing twelve-month EBITDA as of March 31, 2024, for 97 lodging assets owned as of May 6, 2025. 2. Based on guestroom count as a percent of the total MSA for 97 lodging assets owned as of May 6, 2025. Note: Guestroom count used to determine circle size. Current lodging assets Portland San Francisco Southern California Phoenix Rocky Mountains Oklahoma City Dallas Houston New Orleans Atlanta Nashville Minneapolis Chicago Indianapolis Boston Baltimore Orlando Miami Sun Belt
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17 Upscale Upper-Midscale Other Summit Portfolio Chain Scale Breakdown (2) 78% 15% 7% CBRE (1) Total US Upscale May 2025 Supply Growth Demand Growth Variance Supply Growth Demand Growth Variance 2020 -4.0% -36.0% -3,200 bps -0.9% -41.3% -4,040 bps 2021 4.9% 37.5% 3,260 bps 6.6% 48.0% 4,140 bps 2022 1.7% 10.6% 890 bps 3.3% 16.5% 1,320 bps 2023 0.2% 1.0% 80 bps 1.5% 4.3% 280 bps 2024 0.5% 0.5% 0 bps 1.2% 1.7% 50 bps 2025E 0.7% 0.9% 20 bps 1.1% 1.1% 0 bps 2026E 0.9% 1.1% 20 bps 1.0% 1.5% 50 bps 2027E 0.8% 1.6% 80 bps 1.0% 2.1% 110 bps 2028E 0.7% 1.6% 90 bps 0.9% 1.8% 90 bps 2025-2028 Avg 0.8% 1.3% 50 bps 1.0% 1.6% 60 bps 1. Based on CBRE Hotel Trends, Q1 2025 data as of May 2025. 2. Based on guestroom count for the 97 lodging assets owned as of May 6, 2025.
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18 Summit believes in the value of brand loyalty and partners with leading global brands that provide access to millions of enrolled loyalty members. We believe guests value premium standards, exceptional service, diverse types of stay offerings, and ease of reservation that result in a positive guest experience and recurring stays. 1. Based on guestroom count for the 97 lodging assets owned as of May 9, 2025. – Chicago Downtown 62% 24% 10% 4% 52% 27% 16% 5% Franchisor (1) Hotel Type (1) Premium select service Other Compact full service Extended stay Lifestyle
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SUMMIT 19 – New Orleans Downtown
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20 • Locations in “Markets that Matter” with favorable supply/demand dynamics and multiple demand generators • Efficient operating models and value-add opportunities • Target product types that appeal to evolving guest preferences • Identify markets with unfavorable supply/demand dynamics • Hotels with functional obsolescence or large capital needs that do not meet return thresholds • Own 41 hotels totaling 5,734 guestrooms with a well-respected global real estate investor further validates Summit’s platform and operating model • Facilitates external growth strategy and creates a pipeline for future growth • Fee stream enhances yields and overall returns (expected to cover ~15% of 2025E cash G&A) • Higher risk-adjusted returns and utilization of in- house development expertise • Mezzanine lending program provides alternative pipeline for growth which typically earns current yields of 10%-14% • Provides for the future option to acquire assets at a fixed price • Maintain liquidity, flexibility and a well-balanced maturity ladder • Nearly 80% fixed rate debt and preferred equity capital structure • Precedent for creative structuring and accretive issuance of OP units to preserve liquidity while remaining transactional • Authorized $50 million share repurchase program to opportunistically return capital to shareholders
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30% 8% IN N A V G P E E R $575 $424 IN N A V G P E E R 21 Over the past several years, Summit has been highly acquisitive relative to the lodging peer set, setting the stage for outsized EBITDA growth over the next several years 1. Amounts in millions. Completed acquisition activity for the period beginning January 1, 2022, through March 31, 2025. 2. Summit TEV based on market close price as of May 9th, 2025. Summit acquisition value is pro rata. Peer data from SNL based on Q4 2024 reported data available and market close price as of May 9, 2025. Gross Acquisition Value (1) Acquisitions as a % of TEV (2)
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22 Further validates Summit’s investment thesis and operating platform • No pre-defined investment size parameters • Eliminates forced buying or selling • Allows for opportunistic deployment and recycling of capital • Fee stream effectively reduces Summit’s overall cost of capital • Acquire deep asset and market knowledge base which facilitates seamless integration if Summit acquires unowned interest • Asset management fee • Project management fee • Promoted interest potential • Equal to ~15% Cash Corp G&A in 2025E • 51% Summit / 49% GIC • Summit as General Partner & Asset Manager • Acquired Hampton Inn & Suites Silverthorne for $26MM • Acquired 4-Hotel Portfolio for $249MM • $249MM Gross Transaction Value • Summit sold 49% interest to the Joint Venture • Acquired Residence Inn Steamboat Springs for $33MM • Acquired Embassy Suites Tucson Paloma Village for $26MM • 27 Hotels, 2 Parking Garages, and Financial Incentives • Attractive basis and increased exposure to high-growth markets • Discount to estimated replacement cost • Resulted in $21MM gain on sale during the 2.5-year hold period • Sold at 1.0% cap rate on T12 financials • Acquired Residence Inn Scottsdale North for $29MM • Acquired Nordic Lodge Steamboat Springs for $14MM • Hyatt Place Dallas / Plano Sold for $10MM • Hilton Garden Inn College Station Sold for $11MM • Sold at 5.9% blended cap rate on 2024E NOI including foregone capex • 250-guestroom Hampton Inn Boston – Logan Airport • 149-guestroom Hilton Garden Inn Tysons Corner • Attractive going-in NOI yield of 8.8% for 2024
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23 RECENT ACQUISITION HIGHLIGHTS Summit Same Store (1) Recent Acquisitions (2) Recent Dispositions Pro Forma Portfolio # of Assets # of Guestrooms Date of Transaction Gross Transaction Price Price per Key NOI Yield RevPAR Growth (4) 1. Based on the 93 same store hotels reported as of December 31, 2024. 2. Recent Acquisitions include the Residence Inn Scottsdale, Nordic Lodge Steamboat Springs, Hampton Inn Boston-Logan Airport, and Hilton Garden Inn Tysons Corner 3. Based on stabilized NOI divided by the purchase price. 4. Based on pro forma RevPAR growth for the full year ended December 31, 2024. 5. Calculated based on the $148 million of sales proceeds plus $47 million of foregone capital expenditures based on the trailing twelve-month NOI at the time of each sale.
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24 Summit’s in-house design, construction & asset management teams deliver comprehensive renovations while ensuring minimal revenue displacement to gain meaningful market share and grow EBITDA • Over $250MM in consolidated capital expenditures invested over the past 3 years resulting in a portfolio that is in excellent physical condition • Significant capital investment affords the Company timing flexibility on future renovations without risking downward pressure on operating results • 2025 forecasted capex spend of $60 million to $70 million on a pro rata basis • Team of engineers, architects, project managers, designers, and buyers that collectively have decades of experience • Offers continuous planning and oversight to optimize project timing and minimize revenue displacement • In-house design and purchasing expertise provides for more cost- efficient renovations while achieving better finished product Recently Completed Renovations Courtyard Charlotte City Center Hilton Garden Inn San Jose Milpitas Courtyard Fort Lauderdale Beach Hyatt House Denver Tech Center Courtyard Grapevine DFW Airport Courtyard New Haven at Yale Hotel Indigo Asheville Downtown Residence Inn Portland Hillsboro Embassy Suites Tucson Hyatt Place Denver Tech Center Ongoing & Upcoming Renovations Hampton Inn & Suites Silverthorne Residence Inn Atlanta Midtown Residence Inn New Orleans Metairie Homewood Suites Midland Hyatt Place Scottsdale Hampton Inn Dallas Downtown Hyatt Place Portland Cascade Station Fairfield Inn & Suites Louisville – Boulder
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25 113 112 110 114 115 121 36 Months 24 Months 12 Months 12 Months 24 Months 36 Months Pre-Renovation STR Index (1) Post-Renovation STR Index (1) 1. Based on STR data for 16 renovations completed since 2017. 2. Based on 15 renovations completed since 2017 (adjusted 24-month post-renovation period). From 2017-2024, the Company invested ~$175 million into 30 renovations • Our comprehensive hotel renovations directly contribute to a meaningful increase in market share by elevating guest satisfaction and enhancing brand perception. • On average, in the 12 months following renovation, we achieved a 400-basis point increase in market share, which grew to 1,100 basis points over the three-year period post renovation. Historical Renovation Performance (2)
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26 The Courtyard Fort Lauderdale Beach recently completed a transformative renovation and has been rebranded as the modern Courtyard Oceanside Fort Lauderdale Beach. The completely redesigned resort will offer an unparalleled coastal experience, vast ocean views, and expanded amenities. Highlights of the project include: • Modern Coastal Guestrooms: Each of the 261 guestrooms have been redesigned to reflect the local market and its South Florida location. Floor-to-ceiling windows offer views of either Fort Lauderdale Beach or the Intracoastal Waterway, paired with upgraded amenities designed to appeal to leisure and business travelers alike. • Panoramic Poolside Bar & New Sundeck: The newly branded and renovated Seabreeze Poolside Bar, features an upgraded pool deck, fire pits, and cabana service, all set against panoramic views of Fort Lauderdale Beach and the Atlantic Ocean. • “The Mast” Restaurant: The hotel’s re-concepted restaurant, the “The Mast,” offers breakfast, lunch and dinner, overlooking both the hotel’s pool and the Atlantic Ocean. • Redesigned Public Spaces: The redesigned lobby now boasts stylish, modern decor, and inviting spaces ideal for socializing or relaxing with a welcoming atmosphere. The new and spacious fitness center offers a variety of cardio and strength training options, and a retail shop has been incorporated into the redesign that will provide guests with many conveniences during their stay. – Oceanside Fort Lauderdale Beach (rendering only) – Oceanside Fort Lauderdale Beach
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27 – Portland Hillsboro – Denver Park Meadows – Asheville Downtown – Dallas Downtown
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SUMMIT 28 – Asheville Downtown
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$43 $128 $202 $200 $200 $288 $6 $52 $3 2025 2026 2027 2028 2029 2030 2031+ Unsecured Revolver JV MR1 Credit Facility JV MR3 Term Loan B of A Term Loan Regions Term Loan Convertible Debt Mortgage Debt JV Mortgage Debt 29 Pro Forma Debt Maturity Schedule (1) $ in millions (5) 1. Based on financials and pro rata debt as of May 15, 2025. Assumes fully-extended maturity dates for all loans. 2. Summit’s market close price as of May 9, 2025. Amounts are pro rata. 3. Revolving credit facility availability reflects a liquidity enhancement option available for the Company to exercise in its sole discretion. 4. Based on 2025E consensus estimate of $188 million and fixed charges of pro rata principal, interest expense, and preferred dividends on a pro forma basis. 5. Due to refinancing of $287.5m Convertible Notes with $275m Delayed Draw Term Loan. Pro Forma Capital Structure (1,2) Net Debt: $1.1 Billion Common Equity: $0.5 Billion Preferred Equity: $0.3 Billion 56% 28% 16% Pro Rata Capitalization Pro Forma Key Highlights (1,2) Liquidity (Revolver Availability + Cash) (3) Pro Rata Net Debt Outstanding Pro Rata Net Debt / Total Enterprise Value Avg. Length to Maturity (5) Pro Forma Weighted Avg. Cost of Debt Fixed Charge Coverage Ratio (4) $275 (5)
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30 1. Based on financials and pro rata debt as of May 15, 2025. Assumes fully-extended maturity dates for all loans. Revolving credit facility availability reflects a liquidity enhancement option available for the Company to exercise in its sole discretion. 2. Summit’s market close price as of May 9, 2025. Amounts are pro rata. 3. Peer data from SNL based on the Q4 2024 reported data available. 4. Total liquidity represented as a percent of equity market cap. Exceptional Liquidity Profile Among the Industry’s Best (1,2,3,4) ~$310MM of total liquidity (57% of equity market cap) (1,2,3) Minimal Near-Term Debt Maturities (1,3) No debt maturities until 2027 eliminating interest rate refinancing risk 0% 39% Summit Peer Avg Limited Variable- Rate Debt Exposure (1) ~76% of pro rata debt and preferred with fixed interest rates Extended Swap Maturities (1) Blended rate of 2.96% with an average maturity of nearly 2 years for swaps in effect 24% 76% Total variable debt Total fixed debt + preferred 2 0 2 5 2 0 2 6 2 0 2 7 2 0 2 8 2 0 2 9 2 0 3 0 2 0 3 1 + 2.92% 2.60% 2.56% 26% Summit Peer Avg 57% 3.49%
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SUMMIT 31 – Amarillo Downtown
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32 Mr. Stanner joined Summit Hotel Properties in April 2017 and most recently served as the company’s Executive Vice President and Chief Financial Officer. Prior to joining Summit, Mr. Stanner was Chief Executive Officer at Strategic Hotels & Resorts, a former NYSE-listed company acquired by an affiliate of The Blackstone Group in 2015. During his tenure at Strategic Hotels & Resorts from 2005 to 2015, Mr. Stanner also held various other senior positions with the company, including Chief Financial Officer, Senior Vice President - Capital Markets, Acquisitions, and Treasurer and Director of Corporate Finance. Prior to his time at Strategic Hotels, Mr. Stanner was an investment banking analyst for Banc of America Securities. Mr. Stanner holds both a B.S. in Management and an MBA from the Krannert School of Management at Purdue University. President & Chief Executive Officer Mr. Conkling joined Summit Hotel Properties in May 2021 as the Company’s Executive Vice President & Chief Financial Officer. Prior to joining Summit, Mr. Conkling served as a Managing Director in the Real Estate, Gaming & Lodging Investment Banking group for Bank of America Merrill Lynch, where he oversaw the successful execution of transaction volume in excess of $190 billion including capital markets and mergers and acquisitions. Prior to his time at Bank of America Merrill Lynch, Mr. Conkling was with the investment banking unit of Bear, Stearns & Co. and previously worked in asset management for Host Hotels & Resorts. Mr. Conkling earned a B.S. in Hotel and Restaurant Administration from Cornell University, School of Hotel Administration and an MBA from Cornell University, Johnson Graduate School of Management. Executive Vice President & Chief Financial Officer – Tucson Paloma Village