About Summit Hotel Properties
Summit Hotel Properties is a company based in Austin (United States) founded in 2004.. Summit Hotel Properties has raised $30.78 million across 5 funding rounds from investors including KeyBank, PNC and Raymond James. The company has 85 employees as of December 31, 2024. Summit Hotel Properties offers products and services including Hotel Portfolio Management and Investment Opportunities. Summit Hotel Properties operates in a competitive market with competitors including RLJ Lodging Trust, Ashford Trust, DiamondRock Hospitality, Chatham Lodging Trust and Apple Hospitality REIT, among others.
- Headquarter Austin, United States
- Employees 85 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Summit Hotel Properties, Inc.
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Annual Revenue
$731.78 M-0.59as on Dec 31, 2024
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Net Profit
$43.33 M0as on Dec 31, 2024
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EBITDA
$227.74 M0.45as on Dec 31, 2024
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Total Equity Funding
$30.78 M (USD)
in 5 rounds
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Latest Funding Round
$600 M (USD), Debt – Conventional
Dec 10, 2018
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Investors
KeyBank
& 8 more
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Employee Count
85
as on Dec 31, 2024
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IPO & Listings of Summit Hotel Properties
Summit Hotel Properties is a publicly listed company on the NYSE with ticker symbol INN in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Summit Hotel Properties
Summit Hotel Properties offers a comprehensive portfolio of products and services, including Hotel Portfolio Management and Investment Opportunities. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Manages lodging assets for investment returns
Provides access to hotel real estate for investors
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Funding Insights of Summit Hotel Properties
Summit Hotel Properties has successfully raised a total of $30.78M across 5 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $600 million completed in December 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Debt – Conventional — $600.0M
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First Round
First Round
(20 Oct 2009)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2018 | Amount | Debt – Conventional - Summit Hotel Properties | Valuation |
investors |
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| Oct, 2017 | Amount | Debt – Conventional - Summit Hotel Properties | Valuation |
investors |
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| Jun, 2016 | Amount | Post-IPO - Summit Hotel Properties | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Summit Hotel Properties
Summit Hotel Properties has secured backing from 9 investors, including institutional investors. Prominent investors backing the company include KeyBank, PNC and Raymond James. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Provider of loans, credit cards, and savings services
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Founded Year | Domain | Location | |
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Commercial banking and financing services are provided by PNC.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Summit Hotel Properties
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Summit Hotel Properties
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Summit Hotel Properties Comparisons
Competitors of Summit Hotel Properties
Summit Hotel Properties operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as RLJ Lodging Trust, Ashford Trust, DiamondRock Hospitality, Chatham Lodging Trust and Apple Hospitality REIT, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Equity REIT that invests in Hotel properties
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| domain | founded_year | HQ Location |
Investments are made across all hospitality industry segments.
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| domain | founded_year | HQ Location |
Hotel properties are owned and operated as an equity REIT.
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| domain | founded_year | HQ Location |
Hotel properties are acquired and managed by this equity REIT.
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| domain | founded_year | HQ Location |
Hospitality properties are invested in by Apple Hospitality REIT.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Summit Hotel Properties
Frequently Asked Questions about Summit Hotel Properties
When was Summit Hotel Properties founded?
Summit Hotel Properties was founded in 2004 and raised its 1st funding round 5 years after it was founded.
Where is Summit Hotel Properties located?
Summit Hotel Properties is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Who is the current CEO of Summit Hotel Properties?
Jonathan Stanner is the current CEO of Summit Hotel Properties.
Is Summit Hotel Properties a funded company?
Summit Hotel Properties is a funded company, having raised a total of $30.78M across 5 funding rounds to date. The company's 1st funding round was a Post-IPO of $75M, raised on Oct 20, 2009.
How many employees does Summit Hotel Properties have?
As of Dec 31, 2024, the latest employee count at Summit Hotel Properties is 85.
What is the annual revenue of Summit Hotel Properties?
Annual revenue of Summit Hotel Properties is $731.78M as on Dec 31, 2024.
What does Summit Hotel Properties do?
Summit Hotel Properties was founded in 2004 and is headquartered in Austin, United States. Operations are centered on the real estate investment trust sector, with a focus on acquiring and managing upscale hotel assets across various U.S. markets. Equity investments are directed toward properties that generate income through lodging services. Leadership is provided by CEO and President Jonathan Stanner, overseeing portfolio growth and asset performance.
Who are the top competitors of Summit Hotel Properties?
Summit Hotel Properties's top competitors include RLJ Lodging Trust, Ashford Trust and DiamondRock Hospitality.
What products or services does Summit Hotel Properties offer?
Summit Hotel Properties offers Hotel Portfolio Management and Investment Opportunities.
Is Summit Hotel Properties publicly traded?
Yes, Summit Hotel Properties is publicly traded on NYSE under the ticker symbol INN.
Who are Summit Hotel Properties's investors?
Summit Hotel Properties has 9 investors. Key investors include KeyBank, PNC, Raymond James, Capital One, and US Bank.
What is Summit Hotel Properties's ticker symbol?
The ticker symbol of Summit Hotel Properties is INN on NYSE.