Summit Hotel Properties Completes $163M, 5-Hotel Portfolio Acquisition

AUSTIN, TX—Summit Hotel Properties Inc. has completed the 812-guestroom, five-hotel portfolio acquisition from Xenia Hotels & Resorts Inc. for a total purchase price of $163 million, or approximately $201,000 per key.

The portfolio includes the 203-guestroom Courtyard Fort Worth Downtown/Blackstone; the 123-guestroom Courtyard Kansas City Country Club Plaza; the 182-guestroom Courtyard Pittsburgh Downtown; the 116-guestroom Hampton Inn & Suites Baltimore Inner Harbor; and the 188-guestroom Residence Inn Baltimore Downtown/Inner Harbor.

The agreement to acquire the portfolio was previously announced on June 5.