AUSTIN, TX—Summit Hotel Properties Inc., which recently moved its executive offices to Austin from Sioux Falls, S.D., acquired three hotels this week from affiliates of the Hyatt hotel brand.
The real estate investment trust purchased two Hyatt Place properties in Orlando, Fla., and one Hyatt Place property in Chicago for $36.1 million. The acquisition totals 426 rooms.
Summit also closed recently on the 62-room AmericInn hotel in Lakewood, Colo., which it sold for $2.6 million.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
