Xenia Hotels & Resorts And Summit Hotel Properties Announce Agreement On $163 Million Transaction

June 5, 2017 – Xenia Hotels & Resorts, Inc. (NYSE:  XHR) (“Xenia”) and an affiliate of Summit Hotel Properties, Inc. (NYSE:  INN) (“Summit”) today announced that the companies have executed a definitive agreement for Summit to acquire an 812-guestroom, five-hotel portfolio from Xenia for a total purchase price of $163 million, or approximately $201,000 per key.  The portfolio includes the…