ADDED
As of February 12, 2026 the number of outstanding shares of common stock of Summit Hotel Properties, Inc.
Cybersecurity incidents could also result in, among other things, a loss of business due to a decline in consumer confidence; our ability to manage rapidly advancing artificial intelligence technology related to our business; our ability to effectively manage our joint ventures with our joint venture partners; current and future changes to the IRC; our ability to continue to maintain an effective corporate responsibility program; our ability to successfully implement our share repurchase program or implement future share repurchase programs; the other factors discussed in Part I Item 1A.
At December 31, 2025, our portfolio consisted of 95 lodging properties with a total of 14,347 guestrooms located in 24 states.
As of December 31, 2025, we own 100% of the outstanding equity interests in 52 of our lodging properties.
( GIC ), a private limited company incorporated in the Republic of Singapore, (the GIC Joint Venture ), and two 90% equity interests in separate joint ventures (the Brickell Joint Venture and the Onera Joint Venture ).
We collectively refer to preferred units of limited partnership interests of our Operating Partnership as Preferred Units.
Pursuant to the Operating Partnership s partnership agreement, we have full, exclusive and complete responsibility and discretion in the management and control of the Operating Partnership, including the ability to cause the Operating Partnership to enter into certain major transactions including acquisitions, dispositions and refinancings, to make distributions to partners and to cause changes in the Operating Partnership s business activities.
Accordingly, all of our lodging properties are leased to our taxable REIT subsidiaries ( TRS Lessees or TRSs ) and managed by professional third-party property management companies.
These staffing levels are significantly below full-service lodging properties, which enables our assets to generate higher operating margins.
We also use interest rate swaps to hedge our risks on variable rate debt, and to maintain a balanced fixed-to-floating debt ratio.
REMOVED
As of February 13, 2025 the number of outstanding shares of common stock of Summit Hotel Properties, Inc.
At December 31, 2024, our portfolio consisted of 97 lodging properties with a total of 14,553 guestrooms located in 25 states.
As of December 31, 2024, we own 100% of the outstanding equity interests in 53 of our lodging properties.
("GIC"), a private limited company incorporated in the Republic of Singapore, (the "GIC Joint Venture"), and two 90% equity interests in separate joint ventures (the "Brickell Joint Venture" and the "Onera Joint Venture").
We collectively refer to preferred units of limited partnership interests of our Operating Partnership as "Preferred Units." Pursuant to the Operating Partnership s partnership agreement, we have full, exclusive and complete responsibility and discretion in the management and control of the Operating Partnership, including the ability to cause the Operating Partnership to enter into certain major transactions including acquisitions, dispositions and refinancings, to make distributions to partners and to cause changes in the Operating Partnership s business activities.
Accordingly, all of our lodging properties are leased to our taxable REIT subsidiaries ("TRS Lessees" or "TRSs") and managed by professional third-party property management companies.
These staffing levels are significantly below full-service lodging properties, which enables our assets to generate higher operating margins and cash flow with less volatility.
As of December 31, 2024, we had $1.4 billion in outstanding indebtedness, including $710.5 million related to our joint ventures.
We believe each of our lodging properties has the necessary permits and approvals to operate its business.
Independent environmental consultants conducted Phase I environmental site assessments on all of our properties prior to acquisition and we intend to conduct Phase I environmental site assessments on properties we acquire in the future.