Summit Hotel Properties INN Number Of Real Estate Properties

In April 2026, we entered into a purchase and sale agreement to sell the 103-guestroom Courtyard by Marriott, Dallas (Arlington South), TX and the 96-guestroom Residence Inn by Marriott, Dallas (Arlington South), TX for a combined selling price of $19.0 million. We reclassified the properties to Assets held for sale, net at March 31, 2026 since the reclassification criteria were met and recorded a write-down of $3.6 million for the excess of the net carrying amount of the two properties over the net selling price less estimated costs to sell, which is included in Loss on write-down of assets in our Condensed Consolidated Statement of Operations. We completed the sale of the properties on July 22, 2026 in accordance with the terms described above. The net selling price of the lodging properties approximated their aggregate net book value on the closing date.