Summit Hotel Properties, Inc. (NYSE: INN) today announced that Jonathan P. Stanner will join the Company as Executive Vice President & Chief Investment Officer effective April 17, 2017. Stanner will be an integral part of the Company's investment, acquisition, and capital markets strategy.
"Jon is an accomplished lodging and real estate professional with an impressive reputation in the industry," said Chairman, President and Chief Executive Officer, Daniel P. Hansen. "Jon's extensive knowledge and experience in the public markets and lodging industry make him an ideal addition to our senior leadership team," commented Mr. Hansen.
Most recently Mr. Stanner served as Chief Executive Officer of Strategic Hotels & Resorts, Inc., which was publicly-traded until being sold to the Blackstone Real Estate Partners VIII fund in 2015 in a high profile transaction valued at approximately $6 billion. Stanner held increasingly senior positions with Strategic Hotels & Resorts since he joined the company in 2005, including Director of Corporate Finance, Senior Vice President - Capital Markets, Acquisitions and Treasurer and Chief Financial Officer. Prior to joining Strategic Hotels & Resorts, Mr. Stanner was an investment banking analyst with Banc of America Securities.
Mr. Stanner earned a Bachelor of Science in Management and a Master of Business Administration, both from the Krannert School of Management at Purdue University.
Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale segment of the lodging industry. As of March 31, 2017, the Company's portfolio consisted of 82 hotels with a total of 11,095 guestrooms located in 23 states.
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