Summit Hotel Properties Prices 13M Share Offering at $9.00/Share

Summit Hotel Properties, Inc.

(the “Company”) today announced the pricing of its public offering of 15,000,000 shares of its common stock, par value $0.01 per share, an upsize over the previously announced 13,000,000 share offering, at a public offering price of $9.00 per share, for total net proceeds of approximately $128.8 million, after deducting the underwriting discount and other estimated offering expenses payable by the Company. The underwriters have a 30-day option to purchase up to an additional 2,250,000 shares of common stock. Subject to customary closing conditions, the offering is expected to close on or about January 14, 2013. The Company will contribute the net