Summit Hotel Properties Announces Dividend
May 6, 2011 - Summit Hotel Properties, Inc. (NYSE: INN), a real estate investment trust (REIT) specializing in the ownership of premium-branded hotels in the upscale and upper midscale segments, today announced that its Board of Directors declared a cash dividend of $0.05625 per common share for the first quarter ending March 31, 2011. The dividend is payable May 23, 2011 to holders of record as of May 13, 2011.
The dividend of $.05625 represents a dividend payment for the fractional portion of the first quarter of 2011 since the settlement of the company's Initial Public Offering of February, 14, 2011. The company's annualized dividend is $0.45 per common share. This fractional quarterly dividend and the annualized dividend represent a current yield of 4.09% based on the May 3, 2011 closing price of $11.00 per share.
About Summit Hotel Properties Summit Hotel Properties, Inc. is a self-advised real estate investment trust focused on acquiring and owning premium-branded select-service hotels in the upscale and upper midscale segments. As of May 3, 2011, the company's hotel portfolio consisted of 68 hotels with a total of 6,888 guestrooms located in 19 states. Additional information about Summit may be found at the company's website, www.shpreit.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
