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Summit Hotel Properties

#6906

Rank

$453.32M

Marketcap

US United States

Country

Summit Hotel Properties
Leadership team

Mr. Jonathan P. Stanner (Pres, CEO & Director)

Mr. William H. Conkling (Exec. VP & CFO)

Mr. Paul Ruiz (Sr. VP & Chief Accounting Officer)

Products/ Services
Hospitality, Real Estate, Travel
Number of Employees
50 - 100
Headquarters
Boulevard, California, United States
Established
2004
Company Registration
SEC CIK number: 0001497645
Net Income
5M - 20M
Revenue
500M - 1B
Traded as
INN
Social Media
Overview
Location
Summary
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 November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.
History

Robinsons Land Corporation , the real estate arm of JG Summit Holdings, a business conglomerate established by Filipino-Chinese entrepreneur John Gokongwei Jr., first entered the hospitality industry in 2004 with the establishment of Robinsons Hotels and Resorts , its hospitality division. The company opened several luxury hotels in the country in partnership with various foreign hospitality brands, such as the Crowne Plaza Galleria and Holiday Inn Galleria, Dusit Thani Mactan Cebu, and The Westin Sonata Place Ortigas. As tourism in the Philippines continued to grow due to the increasing number of middle class travelers, RLC decided to tap into this hospitality market with the establishment of Summit Hotels and Resorts, its midscale hotel brand, and Go Hotels, its budget hotel brand, in 2009. That year, Summit Hotels and Resorts opened its first hotel in Tagaytay, Cavite, the 108-room Summit Ridge Tagaytay.In June 2011, the company opened its second Summit hotel, the 210-room Summit Circle Hotel near Fuente Osmena Circle in Cebu City. The hotel was previously called the Cebu Midtown Hotel until it closed for renovations following a fire incident in the connecting shopping mall in April that year.On March 11, 2015, the company opened the 82-room Summit Hotel Magnolia within the Robinsons Magnolia shopping center in New Manila, Quezon City.On March 14, 2017, the company opened Summit Galleria Cebu in Cebu City. The 220-room hotel is located within the newly constructed Robinsons Galleria Cebu shopping mall near the city's Pier 4.On June 22, 2018, the 138-room Summit Hotel Tacloban opened in Tacloban, Leyte. It is located beside Robinsons Place Tacloban in Barangay Marasbaras.On September 17, 2019, the 100-room Summit Hotel Greenhills opened in San Juan, Metro Manila, making it the sixth property under the Summit brand.In 2020, Summit Hotels and Resorts, along with its sister hotel brand Go Hotels, announced that it will convert some of its rooms in selected hotel branches into rental office space due to the low demand for accommodations and travel brought about by the COVID-19 pandemic in the Philippines.

Mission
To be the premier owner and operator of premium-branded, select-service hotels offering excellent service and value to our guests.
Vision
To maximize shareholder returns by making wise capital investments, taking advantage of market opportunities, and growing our business strategically.
Key Team

Mr. Christopher Russell Eng (Chief Risk Officer, Exec. VP, Gen. Counsel & Sec.)

Mr. Adam Wudel (Sr. VP of Fin. & Capital Markets)

Recognition and Awards
Summit Hotel Properties has been named a Forbes Top Small Cap Investment in 2020, and has received awards from Marriott and Hilton for exceptional service excellence.
References

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Summit Hotel Properties
Leadership team

Mr. Jonathan P. Stanner (Pres, CEO & Director)

Mr. William H. Conkling (Exec. VP & CFO)

Mr. Paul Ruiz (Sr. VP & Chief Accounting Officer)

Products/ Services
Hospitality, Real Estate, Travel
Number of Employees
50 - 100
Headquarters
Boulevard, California, United States
Established
2004
Company Registration
SEC CIK number: 0001497645
Net Income
5M - 20M
Revenue
500M - 1B
Traded as
INN
Social Media