---
schema_version: "secwatch.filing_event.v1"
accession: "0001497645-26-000054"
form_type: "8-K"
ticker: "INN"
cik: "0001497645"
company_name: "Summit Hotel Properties, Inc."
filed_at: "2026-06-30T20:39:49+00:00"
generated_at: "2026-06-30T20:42:08.847751+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Summit Hotel Properties enters $650M senior unsecured credit facility, refinancing prior facility

## Summary
- $650M facility: $400M revolver (matures 2030, extendable to 2031), $200M term loan (matures 2031), $50M delayed draw term loan (draws by March 2027).
- Interest rates: SOFR + 1.40%-2.30% for revolver; term loans 0.05% less; base rate + 0.40%-1.30%.
- Financial covenants: max leverage 7.25x, min fixed charge coverage 1.50x, min tangible net worth $1.67B+75% of equity proceeds.
- Unencumbered asset pool: 52 hotel properties initially; minimum 20; unsecured debt to asset value ≤60%, NOI to interest ≥2.00x.
- Accordion feature allows increase to $900M total commitments.

## SEC filing metadata
- accession: 0001497645-26-000054
- form_type: 8-K
- ticker: INN
- cik: 0001497645
- company_name: Summit Hotel Properties, Inc.
- filed_at: 2026-06-30T20:39:49+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1497645/000149764526000054/0001497645-26-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1497645/000149764526000054/inn-20260629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001497645-26-000054
- JSON: https://secwatch.observer/filing/0001497645-26-000054.json
- Plain text: https://secwatch.observer/filing/0001497645-26-000054.txt

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