Summit Hotel Properties' President & CEO Jonathan Stanner Named to American Hotel & Lodging Association Board of Directors

Rhea-AI Summary

Summit Hotel Properties, with ticker INN, announced that its President and CEO, Jonathan Stanner, has joined the Board of Directors of the American Hotel & Lodging Association (AHLA). This appointment comes as the AHLA implements a strategic plan following significant member engagement during the COVID-19 pandemic recovery. Stanner's role will focus on crucial industry topics, enhancing the collective voice of the lodging sector. As of January 2022, Summit manages a portfolio of 100 hotels across 24 states, which positions it favorably for future growth.

Positive

• Jonathan Stanner's appointment to the AHLA Board may enhance Summit's industry influence.
• This leadership role can provide strategic advantages in navigating post-pandemic recovery.

Negative

• Concerns about reliance on Stanner's leadership amidst a challenging market recovery period.

AUSTIN, Texas, Jan. 18, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company" or "Summit") today announced that its President and Chief Executive Officer, Jonathan Stanner, has been named to the American Hotel & Lodging Association (AHLA) Board of Directors.

The AHLA board represents leaders from all sectors of the lodging industry, including brands, owners and real estate investments trusts (REITs), management companies, independent hotels, and state associations.  Mr. Stanner will be a vital part of discussions concerning a broad range of industry- and association-related issues at a pivotal time for the industry's recovery from the COVID19 pandemic.  Coming on the heels of record membership and engagement over the past two years, AHLA is launching a new strategic plan to guide the future of the association.

"I am honored to be named to the AHLA board of directors and look forward to serving alongside such a talented and well-respected group of lodging industry leaders focused on making continued progress on a myriad of important issues," said Jonathan P. Stanner, the Company's President and Chief Executive Officer.

"I am pleased to welcome Jon to the AHLA Board," said Chip Rogers, President and CEO of AHLA.  "We are grateful to members such as Jon who volunteer their time and energy to ensure that AHLA and our industry are successful.  As we look ahead into 2022 and beyond, I'm incredibly proud of the diversity and depth of experience our Board members bring to the table at such an important time for hotels.  Our collective voice as an industry is stronger than ever in both Washington, D.C. and in city halls and state capitols across the country.  Jon's leadership and experience will serve our industry well and move our policy agenda forward," said Rogers.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry.  As of January 18, 2022, the Company's portfolio consisted of 100 hotels, 61 of which are wholly owned, with a total of 15,051 guestrooms located in 24 states.

About American Hotel & Lodging Association

The American Hotel & Lodging Association (AHLA) is the sole national association representing all segments of the U.S. lodging industry. Headquartered in Washington, D.C., AHLA focuses on strategic advocacy, communications support and workforce development programs to move the industry forward. In the wake of COVID-19 pandemic, the hospitality was the first industry impacted and it will be among the last to recover. That is why AHLA is committed to promoting safe travel while also creating a standardized safety experience nationwide through the Safe Stay initiative. With an enhanced set of health and safety protocols designed to provide a safe and clean environment for all hotel guests and employees, hotels across America are ready to welcome back travelers when they are ready to travel. Learn more at www.ahla.com.

Forward-Looking Statements

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "plan," "likely," "would" or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Examples of forward-looking statements include the following: the Company's ability to realize financial and operational synergies; projections of revenues and expenses or other financial items; descriptions of the Company's plans or objectives for future operations; forecasts of EBITDAre; and descriptions of assumptions underlying or relating to any of the foregoing expectations regarding the timing of their occurrence. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry, and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission ("SEC"). Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

For information about the Company's business and financial results, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC, and its quarterly and other periodic filings with the SEC. The Company undertakes no duty to update the statements in this release to conform the statements to actual results or changes in the Company's expectations.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/summit-hotel-properties-president--ceo-jonathan-stanner-named-to-american-hotel--lodging-association-board-of-directors-301462315.html

SOURCE Summit Hotel Properties, Inc.

FAQ

What is the significance of Jonathan Stanner's appointment to the AHLA Board for INN?

It may enhance industry influence and provide strategic advantages during the recovery phase.

When was Jonathan Stanner appointed to the AHLA Board?

He was appointed on January 18, 2022.

How many hotels does Summit Hotel Properties manage?

Summit manages a portfolio of 100 hotels across 24 states.

What challenges does Summit Hotel Properties face after Stanner’s new appointment?

There are concerns about reliance on Stanner's leadership during the recovery from the COVID-19 pandemic.