---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-133720"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2021-11-03T23:59:59+00:00"
generated_at: "2026-06-28T13:53:33.414999+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties acquires 27 hotels from NewcrestImage for $822M

## Summary
- Acquires 27 hotels (3,709 rooms) and 2 parking structures from NewcrestImage for $822M total.
- Financing: $410M term loan (Bank of America/Wells Fargo), $50M 5.25% Series Z preferred units, $160M common units to seller, $208M cash from GIC.
- Expected close Q4 2021 or Q1 2022; transaction immediately accretive to Adjusted FFO and leverage-neutral.
- NewcrestImage gets board nomination right for one director and ~13% pro forma common ownership.
- Portfolio avg effective age 3.8 yrs; ~50% in Dallas/Fort Worth; 35% increase in total room count to 15,000+ keys.

## SEC filing metadata
- accession: 0001104659-21-133720
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2021-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000110465921133720/0001104659-21-133720-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000110465921133720/tm2131790d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-133720
- JSON: https://secwatch.observer/filing/0001104659-21-133720.json
- Plain text: https://secwatch.observer/filing/0001104659-21-133720.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.