Summit Hotel Properties Declares Second Quarter 2016 Dividends

Summit Hotel Properties, Inc.  (“the Company”), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the second quarter ended June 30, 2016, of $0.1325 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.  The common dividend represents an annualized dividend yield of 3.8 percent based on the closing price of shares of the common stock on July 28, 2016.

The Board of Directors also authorized, and the Company has declared, a cash dividend of $0.578125 per share of the Company’s 9.25% Series A Cumulative Redeemable Preferred Stock for the dividend period ending on August 31, 2016; a cash dividend of $0.4921875 per share of the Company’s 7.875% Series B Cumulative Redeemable Preferred Stock for the dividend period ending on August 31, 2016; a cash dividend of $0.4453125 per share of the Company’s 7.125% Series C Cumulative Redeemable Preferred Stock for the dividend period ending onAugust 31, 2016; and a cash dividend of $0.28219 per share of the Company’s 6.45% Series D Cumulative Redeemable Preferred Stock for the dividend period ending on August 31, 2016.  The Series D preferred stock cash dividend reflects the time period of June 28, 2016 to August 31, 2016.