Form 8-K

8-K — Summit Hotel Properties, Inc.

Accession: 0001497645-26-000080

Filed: 2026-11-03

Period: 2026-11-03

CIK: 0001497645

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — inn-20261103.htm (Primary)

EX-99.1 (exhibit99109302026.htm)

EX-99.2 (earningsreleasesupplemen.htm)

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8-K

8-K (Primary)

Filename: inn-20261103.htm · Sequence: 1

inn-20261103

0001497645FALSE00014976452026-11-032026-11-030001497645us-gaap:CommonStockMember2026-11-032026-11-030001497645us-gaap:SeriesEPreferredStockMember2026-11-032026-11-030001497645us-gaap:SeriesFPreferredStockMember2026-11-032026-11-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 3, 2026

SUMMIT HOTEL PROPERTIES, INC.

(Exact name of registrant as specified in its charter)

Maryland 001-35074 27-2962512

(State or other jurisdiction (Commission File Number) (I.R.S. Employer Identification No.)

of incorporation or organization)

13215 Bee Cave Parkway, Suite B-300

Austin, TX  78738

(Address of Principal Executive Offices) (Zip Code)

(512) 538-2300

(Registrant’s telephone number, including area code)

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.01 per share INN New York Stock Exchange

6.25% Series E Cumulative Redeemable Preferred Stock, par value $0.01 per share INN-PE New York Stock Exchange

5.875% Series F Cumulative Redeemable Preferred Stock, par value $0.01 per share INN-PF New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

☐    Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.    Results of Operations and Financial Condition.

On November 3, 2026, Summit Hotel Properties, Inc. (the “Company”) issued a press release announcing the consolidated operating results of the Company and its subsidiaries for the three and nine months ended September 30, 2026. The press release referred to supplemental financial information for the third quarter 2026 that is available on the Company’s website at www.shpreit.com. A copy of the press release and the supplemental financial information are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Report.

The information in this Item, including the exhibits, is provided under Item 2.02 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section. Furthermore, the information in this Item, including the exhibits, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933 regardless of any general incorporation language in such filings.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits

99.1

Press release issued November 3, 2026, providing consolidated operating results for the three and nine months ended September 30, 2026.

99.2

Third Quarter 2026 Supplemental Data

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SUMMIT HOTEL PROPERTIES, INC.

Date: November 3, 2026 By: /s/ Christopher R. Eng

Christopher R. Eng

Executive Vice President, General Counsel,

Chief Risk Officer and Secretary

EX-99.1

EX-99.1

Filename: exhibit99109302026.htm · Sequence: 2

Document

13215 Bee Cave Pkwy, Suite B-300, Austin, TX 78738

Telephone: 512-538-2300 Fax: 512-538-2333

www.shpreit.com

NEWS RELEASE

SUMMIT HOTEL PROPERTIES REPORTS THIRD QUARTER 2026 RESULTS

Third Quarter Operating Income Increased 90.3% to $16.3 Million; Adjusted EBITDAre Increased 11.8% to $43.9 Million

Third Quarter Pro Forma RevPAR Increased 7.2%, Driving a 14.4% Increase in Pro Forma Hotel EBITDA

Austin, Texas, November 3, 2026 - - - Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), today announced results for the three and nine months ended September 30, 2026.

“We delivered outstanding third quarter results that exceeded expectations as operating fundamentals accelerated meaningfully during the quarter. Pro forma RevPAR increased 7.2 percent year-over-year driven by broad based demand growth and pricing power, particularly midweek in our urban markets. Our teams capitalized on this favorable operating backdrop to drive exceptional profitability growth as pro forma hotel EBITDA increased 14.4 percent with margins expanding nearly 200 basis points year-over-year. Growth in our portfolio was strong across the vast majority of markets and all demand segments, led by the accelerating recovery in business transient travel and the ongoing strength of group demand. Our outlook for the industry broadly and Summit specifically continues to improve. Based on our strong third quarter results and increased expectations for the fourth quarter, we have again raised our full year 2026 guidance ranges to reflect the positive momentum in our business,” said Jonathan Stanner, President and Chief Executive Officer.

"We also continue to enhance our balance sheet and reduce borrowing costs. During the quarter, we repriced two term loan facilities totaling $475 million of borrowings, lowering the applicable interest rate by 20 basis points on those facilities. This follows the previous pricing reduction of our primary $650 million corporate revolving and term loan facility. We have no debt maturities until 2028 and approximately $350 million of liquidity, which positions the Company well for future growth," continued Mr. Stanner.

Third Quarter 2026 Summary

•Net Loss: Net loss attributable to common stockholders was $7.7 million, or $0.07 per diluted share, compared to net loss of $11.3 million, or $0.11 per diluted share, for the third quarter of 2025.

•Pro Forma RevPAR: Pro forma RevPAR increased 7.2 percent to $126.17 compared to the third quarter of 2025. Pro forma ADR increased 5.3 percent to $167.95 compared to the same period in 2025, and pro forma occupancy increased 1.8 percent to 75.1 percent.

•Pro Forma Hotel EBITDA(1): Pro forma hotel EBITDA increased 14.4 percent to $60.4 million from $52.8 million in the same period in 2025. Pro forma hotel EBITDA margin expanded 191 basis points to 32.6 percent in the third quarter.

•Adjusted EBITDAre(1): Adjusted EBITDAre increased 11.8 percent to $43.9 million from $39.3 million in the third quarter of 2025.

•Adjusted FFO(1): Adjusted FFO increased 13.9 percent to $24.2 million, or $0.20 per diluted share, compared to $21.3 million, or $0.17 per diluted share, in the third quarter of 2025.

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Year-to-Date 2026 Summary

•Net Loss: Net loss attributable to common stockholders was $14.2 million, or $0.14 per diluted share, compared to net loss of $17.6 million, or $0.17 per diluted share, in the same period of 2025.

•Pro Forma RevPAR: Pro forma RevPAR increased 4.0 percent to $129.91 compared to the same period of 2025. Pro forma ADR increased 4.5 percent to $174.70, and pro forma occupancy decreased 0.5 percent to 74.4 percent.

•Pro Forma Hotel EBITDA(1): Pro forma hotel EBITDA increased 5.9 percent to $195.2 million from $184.4 million.

•Adjusted EBITDAre(1): Adjusted EBITDAre increased 5.7 percent to $142.9 million from $135.2 million in the same period of 2025.

•Adjusted FFO(1): Adjusted FFO increased to $84.6 million, or $0.70 per diluted share, compared to $81.3 million, or $0.66 per diluted share, in the same period of 2025.

The Company’s results for the three and nine months ended September 30, 2026 and 2025 are as follows (in thousands, except per share amounts and metrics):

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Net loss attributable to common stockholders $ (7,655) $ (11,301) $ (14,229) $ (17,597)

Net loss per diluted share $ (0.07) $ (0.11) $ (0.14) $ (0.17)

Total revenues $ 185,706 $ 177,117 $ 569,778 $ 554,512

EBITDAre (1)

$ 53,372 $ 46,166 $ 175,613 $ 165,665

Adjusted EBITDAre (1)

$ 43,904 $ 39,263 $ 142,930 $ 135,189

FFO (1)

$ 19,250 $ 16,289 $ 72,278 $ 66,371

Adjusted FFO (1)

$ 24,204 $ 21,253 $ 84,612 $ 81,319

FFO per diluted share and unit (1)

$ 0.16 $ 0.13 $ 0.60 $ 0.54

Adjusted FFO per diluted share and unit (1)

$ 0.20 $ 0.17 $ 0.70 $ 0.66

Pro Forma (2) and Same Store (3)

RevPAR $ 126.17 $ 117.69 $ 129.91 $ 124.91

RevPAR Growth 7.2% 4.0%

Hotel EBITDA $ 60,404 $ 52,792 $ 195,190 $ 184,356

Hotel EBITDA Growth 14.4% 5.9%

Hotel EBITDA Margin 32.6% 30.7% 34.5% 34.1%

Hotel EBITDA Margin Growth 191 bps 40 bps

(1)    See tables later in this press release for a discussion and reconciliation of Net loss attributable to common stockholders to non-GAAP financial measures, including earnings before interest, taxes, depreciation, and amortization (“EBITDA”), EBITDAre, adjusted EBITDAre, funds from operations (“FFO”), FFO per diluted share and unit, adjusted FFO (“AFFO”), and AFFO per diluted share and unit, as well as a reconciliation of operating income to hotel EBITDA. See “Non-GAAP Financial Measures” at the end of this release.

(2)    Unless stated otherwise in this release, all pro forma information includes operating and financial results for 92 hotels owned as of September 30, 2026.

(3)    All same store information includes operating and financial results for 92 hotels owned as of January 1, 2025 and at all times during the three and nine months ended September 30, 2026, and 2025.

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Transaction Activity

In July 2026, the Company completed the sale of the wholly-owned 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. The combined sale price represents a 5.9 percent capitalization rate based on the net operating income for the trailing twelve months ended June 30, 2026, and after consideration of approximately $7.6 million of foregone near-term required capital expenditures.

Since 2023, the Company and its affiliates have sold 15 hotels for a combined sales price of approximately $219.0 million at a blended capitalization rate of approximately 4.7 percent, inclusive of an estimated $67.6 million of foregone capital needs, based on the trailing twelve-month net operating income at the time of each sale. The combined RevPAR for the sold hotels was $86, which is an approximate 30 percent discount to the current pro forma portfolio.

Capital Markets Activity

In September 2026, the Company amended its $200 Million Term Loan Facility and $275 Million Delayed Draw Term Loan Facility to conform the pricing grids and other material terms of these facilities with those of its recently amended $650 Million Senior Credit Facility.

Pursuant to the amended pricing grids, borrowings under the $200 Million Term Loan Facility and the $275 Million Delayed Draw Term Loan Facility bear interest at rates ranging from 135 to 225 basis points over the applicable adjusted Term SOFR rate. Based on the Company’s leverage as of September 30, 2026, these amendments resulted in an initial 20 basis point reduction in the applicable interest rate. Furthermore, due to a reduction in the Company’s quarter-end trailing twelve-month leverage ratio, the Company achieved an additional 15 basis point reduction in the interest rate spread across $675 million of term loan debt. Compared to the Company’s pre-amendment pricing grid and June 30, 2026 leverage ratio, these spread reductions are expected to generate annual interest expense savings of approximately $2.4 million.

In connection with the amendment to the $200 Million Term Loan Facility, the initial maturity date was extended to February 2028. The Company retains the option, subject to certain conditions, to further extend the maturity date for up to two additional six-month periods.

Balance Sheet Summary

As of September 30, 2026, the Company’s balance sheet reflected the following:

•Pro rata outstanding debt of $1.1 billion with a weighted average interest rate of 5.50 percent. After giving effect to interest rate derivative agreements, $539.1 million, or 51 percent, of our outstanding debt had a fixed interest rate, and $520.0 million, or 49 percent, had a variable interest rate.

•Pro rata unrestricted cash and cash equivalents of $51.9 million.

•Total pro rata liquidity of approximately $350 million, including unrestricted cash and cash equivalents and revolving credit facility availability.

•The Company’s pro rata weighted average term to maturity was approximately 3.4 years, including extension options.

•No debt maturities until 2028.

•No balance outstanding under its Revolving Credit Facility.

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Common and Preferred Dividend Declaration

On October 27, 2026, the Company declared a quarterly cash dividend of $0.08 per share on its common stock and per common unit of limited partnership interest in Summit Hotel OP, LP. The quarterly dividend of $0.08 per share represents an annualized dividend yield of 4.5 percent, based on the closing price of shares of the common stock on November 2, 2026.

In addition, the Board of Directors declared a quarterly cash dividend of:

•     $0.390625 per share on its 6.25% Series E Cumulative Redeemable Preferred Stock

•     $0.3671875 per share on its 5.875% Series F Cumulative Redeemable Preferred Stock

•     $0.328125 per unit on its 5.25% Series Z Cumulative Perpetual Preferred Units

The dividends are payable on November 30, 2026, to holders of record as of November 16, 2026.

2026 Outlook

The Company’s updated outlook for the full year 2026 is based on 92 lodging assets owned as of November 3, 2026.

Based on actual results for the first nine months of the year and recent operating trends, the Company is increasing the low and high end of its guidance ranges for pro forma RevPAR growth, Adjusted EBITDAre, Adjusted FFO, and Adjusted FFO per share. There are no additional acquisitions, dispositions, share repurchases, or capital markets activities assumed in the Company’s full year 2026 outlook.

FYE 2026 Outlook

Low High Variance to Prior Midpoint % Change to Prior Midpoint

Pro Forma RevPAR Growth (1)

3.50% 4.50% 1.50% —%

Adjusted EBITDAre $ 181,000 $ 186,000 $ 5,000 2.8%

Adjusted FFO $ 102,500 $ 107,500 $ 5,750 5.8%

Adjusted FFO per share of common share and Common Units $ 0.85 $ 0.89 $ 0.05 6.1%

Capital Expenditures, Pro Rata $ 55,000 $ 65,000 $ — —%

(1)    All pro forma information includes operating and financial results for 92 lodging assets owned as of November 3, 2026 and excludes the financial results of hotels sold by the Company after January 1, 2025. Pro forma and non-GAAP financial measures are unaudited.

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Third Quarter 2026 Earnings Conference Call

The Company will conduct its quarterly conference call on November 4, 2026, at 9:00 AM ET.

1.To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details.

2.A live webcast of the conference call can be accessed using this link. A replay of the webcast will be available in the Investors section of the Company's website, www.shpreit.com, until February 1, 2027.

Supplemental Disclosures

In conjunction with this press release, the Company has furnished a financial supplement with additional disclosures on its website. Visit www.shpreit.com for more information. The Company has no obligation to update any of the information provided to conform to actual results or changes in portfolio, capital structure, or future expectations.

About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded lodging facilities with efficient operating models primarily in the upscale segment of the lodging industry. As of November 3, 2026, the Company's portfolio consisted of 92 assets, 50 of which are wholly owned, with a total of 14,027 guestrooms located in 24 states.

For additional information, please visit the Company's website, www.shpreit.com, and follow on X at @SummitHotel_INN.

Contact:

Kevin Milota

SVP - Corporate Finance

Summit Hotel Properties, Inc.

(737) 205-5787

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Forward-Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections, or other forward-looking information. Examples of forward-looking statements include the following: the Company’s ability to realize growth from the deployment of renovation capital; projections of the Company’s revenues and expenses, capital expenditures or other financial items; descriptions of the Company’s plans or objectives for future operations, acquisitions, dispositions, financings, redemptions or services; forecasts of the Company’s future financial performance and potential increases in average daily rate, occupancy, RevPAR, room supply and demand, EBITDAre, Adjusted EBITDAre, FFO and AFFO; the Company’s outlook with respect to pro forma RevPAR, pro forma RevPAR growth, RevPAR, RevPAR growth, AFFO, AFFO per diluted share and unit and renovation capital deployed; and descriptions of assumptions underlying or relating to any of the foregoing expectations regarding the timing of their occurrence. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry, and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission (“SEC”). Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

For information about the Company’s business and financial results, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC, and its quarterly and other periodic filings with the SEC. The Company undertakes no duty to update the statements in this release to conform the statements to actual results or changes in the Company’s expectations.

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Summit Hotel Properties, Inc.

Consolidated Balance Sheets

(In thousands)

September 30, 2026 December 31, 2025

(Unaudited)

ASSETS

Investments in lodging property, net $ 2,522,801  $ 2,640,367

Assets held for sale, net 33,594  11,967

Cash and cash equivalents 61,287  36,110

Restricted cash 6,139  5,102

Right-of-use assets, net 31,332  32,028

Trade receivables, net 19,430  17,347

Prepaid expenses and other 13,144  7,104

Deferred charges, net 5,960  10,051

Other assets 26,273  15,954

Total assets $ 2,719,960  $ 2,776,030

LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY

Liabilities:

Debt, net of debt issuance costs $ 1,367,695  $ 1,394,014

Lease liabilities, net 23,742  24,091

Accounts payable 9,649  7,537

Accrued expenses and other 94,462  76,417

Total liabilities 1,495,548  1,502,059

Redeemable non-controlling interests 50,219  50,219

Total stockholders’ equity 826,730  862,155

Non-controlling interests 347,463  361,597

Total equity 1,174,193  1,223,752

Total liabilities, redeemable non-controlling interests and equity $ 2,719,960  $ 2,776,030

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Summit Hotel Properties, Inc.

Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Revenues:

Room $ 163,166  $ 156,323  $ 501,867  $ 490,653

Food and beverage 10,321  10,017  32,879  32,202

Other 12,219  10,777  35,032  31,657

Total revenues 185,706  177,117  569,778  554,512

Expenses:

Room 39,201  38,958  114,900  114,256

Food and beverage 8,141  8,217  25,141  24,596

Other lodging property operating expenses 60,451  58,575  179,772  174,440

Property taxes, insurance and other 13,638  14,106  41,093  41,123

Management fees 3,844  3,142  12,431  12,048

Depreciation and amortization 36,108  37,634  109,295  112,123

Corporate general and administrative 8,131  7,845  24,391  24,696

Loss on write-down of assets —  —  3,641  —

Total expenses 169,514  168,477  510,664  503,282

Gain (loss) on disposal of assets, net 142  (57) 236  (136)

Operating income 16,334  8,583  59,350  51,094

Other income (expense):

Interest expense (21,926) (20,676) (64,444) (61,260)

Interest income 340  259  887  836

Other income (expense), net 949  (278) 3,188  1,810

Total other expense, net (20,637) (20,695) (60,369) (58,614)

Loss from continuing operations before income taxes (4,303) (12,112) (1,019) (7,520)

Income tax (expense) benefit (880) 352  (342) (1,580)

Net loss (5,183) (11,760) (1,361) (9,100)

Less - Loss attributable to non-controlling interests (2,152) (5,083) (1,008) (5,379)

Net loss attributable to Summit Hotel Properties, Inc. before preferred dividends (3,031) (6,677) (353) (3,721)

Less - Distributions to and accretion of redeemable non-controlling interests (656) (656) (1,970) (1,970)

Less - Preferred dividends (3,968) (3,968) (11,906) (11,906)

Net loss attributable to common stockholders $ (7,655) $ (11,301) $ (14,229) $ (17,597)

Loss per common share:

Basic and diluted $ (0.07) $ (0.11) $ (0.14) $ (0.17)

Weighted-average common shares outstanding:

Basic and diluted 104,856  105,889  105,112  107,169

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Summit Hotel Properties, Inc.

Reconciliation of Net Loss to Non-GAAP Measures - EBITDAre

(Unaudited)

(In thousands)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Net loss $ (5,183) $ (11,760) $ (1,361) $ (9,100)

Depreciation and amortization 36,108  37,634  109,295  112,123

Interest expense 21,926  20,676  64,444  61,260

Interest income on cash deposits (217) (89) (512) (334)

Income tax expense (benefit) 880  (352) 342  1,580

EBITDA 53,514  46,109  172,208  165,529

Loss on write-down of assets —  —  3,641  —

(Gain) loss on disposal of assets and other dispositions, net (142) 57  (236) 136

EBITDAre

53,372  46,166  175,613  165,665

Amortization of key money liabilities (178) (129) (471) (387)

Equity-based compensation 1,660  2,049  5,087  6,754

Debt transaction costs 46  323  188  338

Non-cash lease expense, net 108  108  359  374

Casualty losses, net 363  470  985  1,194

Other 245  885  301  885

Loss (income) related to non-controlling interests in consolidated joint ventures 1,217  3,565  (727) 3,051

Adjustments related to non-controlling interests in consolidated joint ventures (12,929) (14,174) (38,405) (42,685)

Adjusted EBITDAre

$ 43,904  $ 39,263  $ 142,930  $ 135,189

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Summit Hotel Properties, Inc.

Reconciliation of Net Loss to Non-GAAP Measures - Funds From Operations

(Unaudited)

(In thousands, except per share and unit amounts)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Net loss $ (5,183) $ (11,760) $ (1,361) $ (9,100)

Preferred dividends (3,968) (3,968) (11,906) (11,906)

Distributions to and accretion of redeemable non-controlling interests (656) (656) (1,970) (1,970)

Loss (income) related to non-controlling interests in consolidated joint ventures 1,217  3,565  (727) 3,051

Net loss applicable to common shares and Common Units (8,590) (12,819) (15,964) (19,925)

Real estate-related depreciation 35,543  37,064  107,618  110,421

Loss on write-down of assets —  —  3,641  —

(Gain) loss on disposal of assets and other dispositions, net (142) 57  (236) 136

FFO adjustments related to non-controlling interests in consolidated joint ventures (7,561) (8,013) (22,781) (24,261)

FFO applicable to common shares and Common Units 19,250  16,289  72,278  66,371

Amortization of deferred financing costs 1,995  1,929  5,911  5,279

Amortization of franchise fees 175  180  509  530

Amortization of intangible assets, net 210  263  696  787

Equity-based compensation 1,660  2,049  5,087  6,754

Debt transaction costs 46  323  188  338

Non-cash lease expense, net 108  108  359  374

Casualty losses, net 363  470  985  1,194

Deferred tax expense (benefit) 713  (532) (250) 636

Other 245  885  301  885

AFFO adjustments related to non-controlling interests in consolidated joint ventures (561) (711) (1,452) (1,829)

AFFO applicable to common shares and Common Units $ 24,204  $ 21,253  $ 84,612  $ 81,319

FFO per common share and Common Unit $ 0.16  $ 0.13  $ 0.60  $ 0.54

AFFO per common share and Common Unit $ 0.20  $ 0.17  $ 0.70  $ 0.66

Weighted-average diluted common shares and Common Units 120,003  121,635  120,317  123,211

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Summit Hotel Properties, Inc.

Reconciliation of Weighted Average Diluted Common Shares

(Unaudited)

(In thousands)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Weighted average common shares outstanding - basic and diluted 104,856  105,889  105,112  107,169

Adjusted for:

Non-GAAP adjustment for restricted stock awards (1)

2,138  2,737  2,196  2,688

Non-GAAP adjustment for dilutive effects of Common Units (2)

13,009  13,009  13,009  13,354

Non-GAAP weighted diluted shares of common stock and Common Units 120,003  121,635  120,317  123,211

(1)    Adjustment reflects the difference between the total weighted-average unvested restricted time-based shares outstanding as of the reporting date and the weighted-average restricted time-based shares computed for diluted earnings per share under the treasury stock method, plus the difference between the estimated total weighted average unvested restricted performance-based shares expected to vest based on achievement of the performance measures as if the vesting date were the reporting date and the estimated weighted-average unvested restricted performance-based shares computed for diluted earnings per share under the treasury stock method.

(2)    The Company includes the outstanding Common Units issued by our Operating Partnership held by limited partners other than the Company because the Common Units are redeemable for cash or, at the Company’s option, shares of the Company’s common stock on a one-for-one basis.

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Summit Hotel Properties, Inc.

Pro Forma Hotel Operating Data

(Unaudited)

(In thousands, except operating statistics)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

Pro Forma Operating Data: (1)

2026 2025 2026 2025

Pro forma room revenue $ 162,816 $ 151,865 $ 497,472 $ 477,804

Pro forma other hotel operations revenue 22,511 20,220 67,545 62,131

Pro forma total revenues 185,327 172,085 565,017 539,935

Pro forma total hotel operating expenses 124,923 119,293 369,827 355,579

Pro forma hotel EBITDA $ 60,404 $ 52,792 $ 195,190 $ 184,356

Pro forma hotel EBITDA Margin 32.6% 30.7% 34.5% 34.1%

Reconciliations of Non-GAAP financial measures to comparable GAAP financial measures

Revenue:

Total revenues $ 185,706 $ 177,117 $ 569,778 $ 554,512

Total revenues - dispositions (379) (5,032) (4,761) (14,577)

Pro forma total revenues (1)

185,327 172,085 565,017 539,935

Hotel Operating Expenses:

Hotel operating expenses $ 125,275 $ 122,998 $ 373,337 $ 366,463

Hotel operating expenses - dispositions (352) (3,705) (3,510) (10,884)

Pro forma hotel operating expense (1)

124,923 119,293 369,827 355,579

Hotel EBITDA:

Operating income 16,334 8,583 59,350 51,094

(Gain) loss on disposal of assets and other dispositions, net (142) 57 (236) 136

Loss on write-down of assets — — 3,641 —

Corporate general and administrative 8,131 7,845 24,391 24,696

Depreciation and amortization 36,108 37,634 109,295 112,123

Hotel EBITDA 60,431 54,119 196,441 188,049

Hotel EBITDA - dispositions (2)

(27) (1,327) (1,251) (3,693)

Pro forma hotel EBITDA (1)

$ 60,404 $ 52,792 $ 195,190 $ 184,356

(1)    Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026. For any hotels sold by the Company after January 1, 2025 (the “Disposed Hotels”), the Company excludes the financial results of each of the Disposed Hotels from January 1, 2025 to the date the Disposed Hotels were sold by the Company in determining pro forma total revenues and pro forma hotel operating expenses. The pro forma information is included to enable comparison of results for the current reporting period to results for the comparable period of the prior year and are not indicative of future results.

(2)    For hotels sold by the Company between January 1, 2025, and September 30, 2026, the Company has excluded the financial results of each of the Disposed Hotels for the period beginning on January 1, 2025, and ending on the date the Disposed Hotels were sold by the Company (the “Disposition Period”) in determining pro forma hotel EBITDA.

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Summit Hotel Properties, Inc.

Pro Forma Hotel Operating Data

(Unaudited)

(In thousands, except operating statistics)

2025 2026 Trailing Twelve Months Ended September 30, 2026

Pro Forma Operating Data: (1)

Q4 Q1 Q2 Q3

Pro forma room revenue $ 150,002 $ 160,473 $ 174,183 $ 162,816 $ 647,474

Pro forma other hotel operations revenue 21,383 22,276 22,758 22,511 88,928

Pro forma total revenues 171,385 182,749 196,941 185,327 736,402

Pro forma total hotel operating expenses 116,856 119,737 125,167 124,923 486,683

Pro forma hotel EBITDA $ 54,529 $ 63,012 $ 71,774 $ 60,404 $ 249,719

Pro forma hotel EBITDA Margin 31.8% 34.5% 36.4% 32.6% 33.9%

Pro Forma Statistics: (1)

Rooms sold 916,685 903,506 974,624 969,457 3,764,272

Rooms available 1,290,392 1,262,430 1,276,457 1,290,484 5,119,763

Occupancy 71.0% 71.6% 76.4% 75.1% 73.5%

ADR $ 163.63 $ 177.61 $ 178.72 $ 167.95 $ 172.01

RevPAR $ 116.25 $ 127.11 $ 136.46 $ 126.17 $ 126.47

Actual Statistics:

Rooms sold 941,803 920,670 987,180 971,639 3,821,292

Rooms available 1,325,524 1,286,440 1,294,566 1,294,663 5,201,193

Occupancy 71.1% 71.6% 76.3% 75.0% 73.5%

ADR $ 162.60 $ 176.57 $ 178.42 $ 167.93 $ 171.41

RevPAR $ 115.53 $ 126.37 $ 136.06 $ 126.03 $ 125.93

Reconciliations of Non-GAAP financial measures to comparable GAAP financial measures

Revenue:

Total revenues $ 174,960 $ 185,053 $ 199,019 $ 185,706 $ 744,738

Total revenues - dispositions (3,575) (2,304) (2,078) (379) (8,336)

Pro forma total revenues (1)

171,385 182,749 196,941 185,327 736,402

Hotel Operating Expenses:

Hotel operating expenses 119,644 121,622 126,440 125,275 492,981

Hotel operating expenses - dispositions (2,788) (1,885) (1,273) (352) (6,298)

Pro forma hotel operating expenses (1)

116,856 119,737 125,167 124,923 486,683

Hotel EBITDA:

Operating income 14,591 14,131 28,885 16,334 73,941

(Gain) loss on disposal of assets, net (6,715) 40 (134) (142) (6,951)

Loss on write-down of assets 1,833 3,641 — — 5,474

Corporate general and administrative 8,120 8,845 7,415 8,131 32,511

Depreciation and amortization 37,487 36,774 36,413 36,108 146,782

Hotel EBITDA 55,316 63,431 72,579 60,431 251,757

Hotel EBITDA - dispositions (2)

(787) (419) (805) (27) (2,038)

Pro forma hotel EBITDA (1)

$ 54,529 $ 63,012 $ 71,774 $ 60,404 $ 249,719

(1)    Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026 as if all such hotels had been owned by the Company since October 1, 2025. For any hotels sold by the Company after October 1, 2025, the Company excludes the financial results of each of those hotels from October 1, 2025 to the date the hotels were sold by the Company in determining pro forma total revenues and pro forma hotel operating expenses. The pro forma information is included to enable comparison of results for the current reporting period to results for the comparable period of the prior year and are not indicative of future results.

(2)    For hotels sold by the Company between October 1, 2025, and September 30, 2026, the Company has excluded the financial results of each of the hotels for the period beginning on October 1, 2025, and ending on the date the hotels were sold by the Company in determining pro forma hotel EBITDA.

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Summit Hotel Properties, Inc.

Pro Forma and Same Store Data

(Unaudited)

For the Three Months Ended September 30, For the Nine Months Ended September 30,

2026 2025 2026 2025

Pro Forma (1) and Same Store (2)

Rooms sold 969,457 952,332 2,847,587 2,858,467

Rooms available 1,290,484 1,290,392 3,829,371 3,825,209

Occupancy 75.1% 73.8% 74.4% 74.7%

ADR $ 167.95 $ 159.47 $ 174.70 $ 167.15

RevPAR $ 126.17 $ 117.69 $ 129.91 $ 124.91

Occupancy change 1.8% (0.5)%

ADR change 5.3% 4.5%

RevPAR change 7.2% 4.0%

(1)    Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026.

(2)     Same-store information includes operating results for 92 hotels owned by the Company as of January 1, 2025, and at all times during the three and nine months ended September 30, 2026, and 2025.

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Summit Hotel Properties, Inc.

Reconciliation of Net Loss to Non-GAAP Measures - EBITDA for Financial Outlook

(Unaudited)

(In thousands)

FYE 2026 Outlook

Low High

Net loss $ (11,800) $ (5,500)

Depreciation and amortization 144,900  144,900

Interest expense 86,800  86,800

Interest income (900) (900)

Income tax expense 2,600  2,600

EBITDA 221,600  227,900

Loss on write-down assets 3,600  3,600

Gain on disposal of assets and other dispositions, net (1,700) (1,700)

EBITDAre 223,500  229,800

Equity-based compensation 6,800  6,800

Debt transaction costs 200  200

Other items, net 1,100  1,100

Loss (income) related to non-controlling interests in consolidated joint ventures 1,200  (100)

Adjustments related to non-controlling interests in consolidated joint ventures (51,800) (51,800)

Adjusted EBITDAre $ 181,000  $ 186,000

Summit Hotel Properties, Inc.

Reconciliation of Net Loss to Non-GAAP Measures - Funds From Operations for Financial Outlook

(Unaudited)

(In thousands except per share and unit)

FYE 2026 Outlook

Low High

Net loss $ (11,800) $ (5,500)

Preferred dividends (15,900) (15,900)

Distributions to and accretion of redeemable non-controlling interests (2,600) (2,600)

Loss (income) related to non-controlling interests in consolidated joint ventures 1,200  (100)

Net loss applicable to common shares and Common Units (29,100) (24,100)

Real estate-related depreciation 142,700  142,700

Loss on write-down assets 3,600  3,600

Gain on disposal of assets and other dispositions, net (1,700) (1,700)

FFO Adjustments related to non-controlling interests in consolidated joint ventures (30,400) (30,400)

FFO applicable to common shares and Common Units 85,100  90,100

Amortization of deferred financing costs 8,000  8,000

Amortization of franchise fees 700  700

Equity-based compensation 6,800  6,800

Debt transaction costs 200  200

Other items, net 3,500  3,500

AFFO Adjustments related to non-controlling interests in consolidated joint ventures (1,800) (1,800)

AFFO applicable to common shares and Common Units $ 102,500  $ 107,500

Weighted average diluted common shares/Common Units for FFO and AFFO 120,300  120,300

FFO per common share and Common Unit $ 0.71  $ 0.75

AFFO per common share and Common Unit $ 0.85  $ 0.89

15 | P a g e

Non-GAAP Financial Measures

We disclose certain “non-GAAP financial measures,” which are measures of our historical financial performance. Non-GAAP financial measures are financial measures not prescribed by Generally Accepted Accounting Principles ("GAAP"). These measures are as follows: (i) Funds From Operations (“FFO”) and Adjusted Funds from Operations ("AFFO"), (ii) Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Earnings before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre"), Adjusted EBITDAre, and hotel EBITDA (as described below). We caution investors that amounts presented in accordance with our definitions of non-GAAP financial measures may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP financial measures in the same manner. Our non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Our non-GAAP financial measures may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures, property acquisitions, debt service obligations and other commitments and uncertainties. Although we believe that our non-GAAP financial measures can enhance the understanding of our financial condition and results of operations, these non-GAAP financial measures are not necessarily better indicators of any trend as compared to a comparable measure prescribed by GAAP such as net income (loss).

Funds From Operations (“FFO”) and Adjusted FFO (“AFFO”)

As defined by Nareit, FFO represents net income or loss (computed in accordance with GAAP), excluding preferred dividends, gains (or losses) from sales of real property, impairment losses on real estate assets, items classified by GAAP as extraordinary, the cumulative effect of changes in accounting principles, plus depreciation and amortization related to real estate assets, and adjustments for unconsolidated partnerships, and joint ventures. AFFO represents FFO excluding amortization of deferred financing costs, franchise fees, equity-based compensation expense, debt transaction costs, premiums on redemption of preferred shares, losses from net casualties, non-cash lease expense, non-cash interest income and non-cash income tax related adjustments to our deferred tax assets. Unless otherwise indicated, we present FFO and AFFO applicable to our common shares and common units. We present FFO and AFFO because we consider FFO and AFFO an important supplemental measure of our operational performance and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO and AFFO when reporting their results. FFO and AFFO are intended to exclude GAAP historical cost depreciation and amortization, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO and AFFO exclude depreciation and amortization related to real estate assets, gains and losses from real property dispositions and impairment losses on real estate assets, FFO and AFFO provide performance measures that, when compared year over year, reflect the effect to operations from trends in occupancy, guestroom rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from net income. Our computation of FFO differs slightly from the computation of Nareit-defined FFO related to the reporting of corporate depreciation and amortization expense. Our computation of FFO may also differ from the methodology for calculating FFO used by other equity REITs and, accordingly, may not be comparable to such other REITs. FFO and AFFO should not be considered as an alternative to net income (loss) (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends or make distributions. Where indicated in this release, FFO is based on our computation of FFO and not the computation of Nareit-defined FFO unless otherwise noted.

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EBITDA, EBITDAre, Adjusted EBITDAre, and Hotel EBITDA

In September 2017, Nareit proposed a standardized performance measure, called EBITDAre, which is based on EBITDA and is expected to provide additional relevant information about REITs as real estate companies in support of growing interest among generalist investors. The conclusion was reached that, while dedicated REIT investors have long been accustomed to utilizing the industry’s supplemental measures such as FFO and net operating income (“NOI”) to evaluate the investment quality of REITs as real estate companies, it would be helpful to generalist investors for REITs as real estate companies to also present EBITDAre as a more widely known and understood supplemental measure of performance. EBITDAre is intended to be a supplemental non-GAAP performance measure that is independent of a company’s capital structure and will provide a uniform basis for one measurement of the enterprise value of a company compared to other REITs.

EBITDAre, as defined by Nareit, is calculated as EBITDA, excluding: (i) loss and gains on disposition of property and (ii) asset impairments, if any. We believe EBITDAre is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.

We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional non-recurring or unusual items described below provides useful supplemental information to investors regarding our on-going operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.

With respect to hotel EBITDA, we believe that excluding the effect of corporate-level expenses and non-cash items provides a more complete understanding of the operating results over which individual hotels and operators have direct control. We believe the property-level results provide investors with supplemental information on the on-going operational performance of our hotels and effectiveness of the third-party management companies operating our business on a property-level basis.

We caution investors that amounts presented in accordance with our definitions of EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP measures in the same manner. EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA should not be considered as an alternative measure of our net income (loss) or operating performance. EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures and property acquisitions and other commitments and uncertainties. Although we believe that EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA can enhance your understanding of our financial condition and results of operations, these non-GAAP financial measures are not necessarily a better indicator of any trend as compared to a comparable GAAP measure such as net income (loss). Above, we include a quantitative reconciliation of EBITDA, EBITDAre, adjusted EBITDAre and hotel EBITDA to the most directly comparable GAAP financial performance measure, which is net income (loss) and operating income (loss).

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EX-99.2

EX-99.2

Filename: earningsreleasesupplemen.htm · Sequence: 3

earningsreleasesupplemen

Earnings Release Supplement Third Quarter 2026 (UNAUDITED) November 3, 2026

Table of Contents Section I Section II Section III Section IV Section V Forward-Looking Statements and Non-GAAP Financial Measure Disclosures Corporate Financial Schedules Operating & Property-Level Schedules Capitalization and Debt Schedules Asset Listing

1 Forward-Looking Statements We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. When we use the words “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,” or similar expressions, we intend to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking by their nature: • our ability to increase our dividend per share of common stock; • the state of the U.S. economy generally or in specific geographic regions in which we operate, and the effect of general economic conditions on the lodging industry and our business in particular; • market trends in our industry, interest rates, real estate values and the capital markets; • our business and investment strategy and, particularly, our ability to identify and complete hotel acquisitions and dispositions; • our projected operating results; • actions and initiatives of the U.S. government and changes to U.S. government policies and the execution and impact of such actions, initiatives and policies; • our ability to manage our relationships with our management companies and franchisors; • our ability to maintain our existing and future financing arrangements; • changes in the value of our properties; • the impact of and changes in governmental regulations, tax law and rates, accounting guidance and similar matters; • our ability to satisfy the requirements for qualification as a REIT under the U.S. Tax Code; • our ability to repay or refinance our indebtedness as it matures or becomes callable by lenders; • the availability of qualified personnel; • our ability to make distributions to our stockholders in the future; • the general volatility of the market price of our securities; and • the degree and nature of our competition. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account information currently available to us. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. These factors are discussed under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other documents we have filed with the Securities and Exchange Commission. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. Any forward-looking statement is effective only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict those events or how they may affect us. Except as required by law we are not obligated to, and do not intend to, publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, this presentation contains certain unaudited historical and pro forma information and metrics which are based or calculated from historical data that is maintained or produced by Summit Hotel Properties, Inc. or third parties. This presentation contain statistics and other data that may have been obtained from, or compiled from, information made available by third-parties.

2 Non-GAAP Financial Measures We disclose certain “non-GAAP financial measures,” which are measures of our historical financial performance. Non-GAAP financial measures are financial measures not prescribed by Generally Accepted Accounting Principles ("GAAP"). These measures are as follows: (i) Funds From Operations (“FFO”) and Adjusted Funds from Operations ("AFFO"), (ii) Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Earnings before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre") and Adjusted EBITDAre (as described below). We caution investors that amounts presented in accordance with our definitions of non-GAAP financial measures may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP financial measures in the same manner. Our non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Our non-GAAP financial measures may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures, property acquisitions, debt service obligations and other commitments and uncertainties. Although we believe that our non- GAAP financial measures can enhance the understanding of our financial condition and results of operations, these non-GAAP financial measures are not necessarily better indicators of any trend as compared to a comparable measure prescribed by GAAP such as net income (loss). FFO and AFFO As defined by Nareit, FFO represents net income or loss (computed in accordance with GAAP), excluding preferred dividends, gains (or losses) from sales of real property, impairment losses on real estate assets, items classified by GAAP as extraordinary, the cumulative effect of changes in accounting principles, plus depreciation and amortization related to real estate assets, and adjustments for unconsolidated partnerships, and joint ventures. AFFO represents FFO excluding amortization of deferred financing costs, franchise fees, equity-based compensation expense, transaction costs, debt transaction costs, premiums on redemption of preferred shares, losses from net casualties, non-cash interest income and non-cash income tax related adjustments to our deferred tax asset. Unless otherwise indicated, we present FFO and AFFO applicable to our common shares and common units. We present FFO and AFFO because we consider FFO and AFFO an important supplemental measure of our operational performance and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO and AFFO when reporting their results. FFO and AFFO are intended to exclude GAAP historical cost depreciation and amortization, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO and AFFO exclude depreciation and amortization related to real estate assets, gains and losses from real property dispositions and impairment losses on real estate assets, and certain transaction costs related to lodging property acquisition activities and debt, FFO and AFFO provide performance measures that, when compared year over year, reflect the effect to operations from trends in occupancy, guestroom rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from net income. Our computation of FFO differs slightly from the computation of Nareit-defined FFO related to the reporting of depreciation and amortization expense on assets at our corporate offices, which is de minimis. Our computation of FFO may also differ from the methodology for calculating FFO used by other equity REITs and, accordingly, may not be comparable to such other REITs. FFO and AFFO should not be considered as an alternative to net income (loss) (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends or make distributions. Where indicated in this Earnings Release Supplement, FFO is based on our computation of FFO and not the computation of Nareit- defined FFO unless otherwise noted.

3 Non-GAAP Financial Measures (cont.) EBITDAre and Adjusted EBITDAre In September 2017, Nareit proposed a standardized performance measure, called EBITDAre, which is based on EBITDA and is expected to provide additional relevant information about REITs as real estate companies in support of growing interest among generalist investors. The conclusion was reached that, while dedicated REIT investors have long been accustomed to utilizing the industry’s supplemental measures such as FFO and net operating income (“NOI”) to evaluate the investment quality of REITs as real estate companies, it would be helpful to generalist investors for REITs as real estate companies to also present EBITDAre as a more widely known and understood supplemental measure of performance. EBITDAre is intended to be a supplemental non-GAAP performance measure that is independent of a company’s capital structure and will provide a uniform basis for one measurement of the enterprise value of a company compared to other REITs. EBITDAre, as defined by Nareit, is calculated as EBITDA, excluding: (i) loss and gains on disposition of property and (ii) asset impairments, if any. We believe EBITDAre is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results. We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional non-recurring or unusual items described below provides useful supplemental information to investors regarding our on-going operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to meet general operating expenses, to make capital expenditures and to fund other cash needs, or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.

Table of Contents Section I Section II Section III Section IV Section V Forward-Looking Statements and Non-GAAP Financial Measure Disclosures Corporate Financial Schedules Operating & Property-Level Schedules Capitalization and Debt Schedules Asset Listing

5 Summary Financial Results (Unaudited) (Amounts in thousands, except per share metrics and statistics) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Net loss attributable to common stockholders $ (7,655) $ (11,301) $ (14,229) $ (17,597) Net loss per diluted share $ (0.07) $ (0.11) $ (0.14) $ (0.17) Total revenues $ 185,706 $ 177,117 $ 569,778 $ 554,512 EBITDAre (1) $ 53,372 $ 46,166 $ 175,613 $ 165,665 Adjusted EBITDAre (1) $ 43,904 $ 39,263 $ 142,930 $ 135,189 FFO (1) $ 19,250 $ 16,289 $ 72,278 $ 66,371 Adjusted FFO (1) $ 24,204 $ 21,253 $ 84,612 $ 81,319 FFO per diluted share and unit (1) $ 0.16 $ 0.13 $ 0.60 $ 0.54 Adjusted FFO per diluted share and unit (1) $ 0.20 $ 0.17 $ 0.70 $ 0.66 Pro Forma (2) and Same Store (3) RevPAR $ 126.17 $ 117.69 $ 129.91 $ 124.91 RevPAR Growth 7.2 % 4.0 % Hotel EBITDA $ 60,404 $ 52,792 $ 195,190 $ 184,356 Hotel EBITDA Growth 14.4 % 5.9 % Hotel EBITDA Margin 32.6 % 30.7 % 34.5 % 34.1 % Hotel EBITDA Margin Growth 191 bps 40 bps 1. See tables later in this presentation for a discussion and reconciliation of Net loss to non-GAAP financial measures, including earnings before interest, taxes, depreciation, and amortization (“EBITDA”), EBITDAre, adjusted EBITDAre, funds from operations (“FFO”), FFO per diluted share and unit, adjusted FFO (“AFFO”), and AFFO per diluted share and unit, as well as a reconciliation of Operating income to hotel EBITDA. See “Non-GAAP Financial Measures” at the end of this presentation. 2. Unless stated otherwise in this presentation, all pro forma information includes operating and financial results for 92 lodging properties owned as of September 30, 2026. 3. All same store information includes operating and financial results for 92 hotels owned as of January 1, 2025, and at all times during the three and nine months ended September 30, 2026 and 2025.

6 Summary Pro Forma Operating Results (Unaudited) (Amounts in thousands, except operating statistics) 1. Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026. For any hotels sold by the Company after October 1, 2025, the Company excludes the financial results of each of those hotels from October 1, 2025 to the date the hotels were sold by the Company in determining pro forma total revenues and pro forma hotel operating expenses. The pro forma information is included to enable comparison of results for the current reporting period to results for the comparable period of the prior year and are not indicative of future results. 2025 2026 Trailing Twelve Months Ended Pro Forma Operating Data: (1) Q4 Q1 Q2 Q3 September 30, 2026 Pro forma room revenue $ 150,002 $ 160,473 $ 174,183 $ 162,816 $ 647,474 Pro forma other hotel operations revenue 21,383 22,276 22,758 22,511 88,928 Pro forma total revenues 171,385 182,749 196,941 185,327 736,402 Pro forma total hotel operating expenses 116,856 119,737 125,167 124,923 486,683 Pro forma hotel EBITDA $ 54,529 $ 63,012 $ 71,774 $ 60,404 $ 249,719 Pro forma hotel EBITDA Margin 31.8 % 34.5 % 36.4 % 32.6 % 33.9 % Pro Forma Statistics: (1) Rooms sold 916,685 903,506 974,624 969,457 3,764,272 Rooms available 1,290,392 1,262,430 1,276,457 1,290,484 5,119,763 Occupancy 71.0 % 71.6 % 76.4 % 75.1 % 73.5 % ADR $ 163.63 $ 177.61 $ 178.72 $ 167.95 $ 172.01 RevPAR $ 116.25 $ 127.11 $ 136.46 $ 126.17 $ 126.47 Actual Statistics: Rooms sold 941,803 920,670 987,180 971,639 3,821,292 Rooms available 1,325,524 1,286,440 1,294,566 1,294,663 5,201,193 Occupancy 71.1 % 71.6 % 76.3 % 75.0 % 73.5 % ADR $ 162.60 $ 176.57 $ 178.42 $ 167.93 $ 171.41 RevPAR $ 115.53 $ 126.37 $ 136.06 $ 126.03 $ 125.93

7 Adjusted EBITDAre Reconciliation (Unaudited) (Amounts in thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Net loss $ (5,183) $ (11,760) $ (1,361) $ (9,100) Depreciation and amortization 36,108 37,634 109,295 112,123 Interest expense 21,926 20,676 64,444 61,260 Interest income on cash deposits (217) (89) (512) (334) Income tax expense (benefit) 880 (352) 342 1,580 EBITDA 53,514 46,109 172,208 165,529 Loss on write-down of assets — — 3,641 — (Gain) loss on disposal of assets and other dispositions, net (142) 57 (236) 136 EBITDAre 53,372 46,166 175,613 165,665 Amortization of key money liabilities (178) (129) (471) (387) Equity-based compensation 1,660 2,049 5,087 6,754 Debt transaction costs 46 323 188 338 Non-cash lease expense, net 108 108 359 374 Casualty losses, net 363 470 985 1,194 Other 245 885 301 885 Loss (income) related to non-controlling interests in consolidated joint ventures 1,217 3,565 (727) 3,051 Adjustments related to non-controlling interests in consolidated joint ventures (12,929) (14,174) (38,405) (42,685) Adjusted EBITDAre $ 43,904 $ 39,263 $ 142,930 $ 135,189

8 Adjusted FFO Reconciliation (Unaudited) (Amounts in thousands, except per share metrics) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Net loss $ (5,183) $ (11,760) $ (1,361) $ (9,100) Preferred dividends (3,968) (3,968) (11,906) (11,906) Distributions to and accretion of redeemable non-controlling interests (656) (656) (1,970) (1,970) Loss (income) related to non-controlling interests in consolidated joint ventures 1,217 3,565 (727) 3,051 Net loss applicable to common shares and Common Units (8,590) (12,819) (15,964) (19,925) Real estate-related depreciation 35,543 37,064 107,618 110,421 Loss on write-down of assets — — 3,641 — (Gain) loss on disposal of assets and other dispositions, net (142) 57 (236) 136 FFO adjustments related to non-controlling interests in consolidated joint ventures (7,561) (8,013) (22,781) (24,261) FFO applicable to common shares and Common Units 19,250 16,289 72,278 66,371 Amortization of deferred financing costs 1,995 1,929 5,911 5,279 Amortization of franchise fees 175 180 509 530 Amortization of intangible assets, net 210 263 696 787 Equity-based compensation 1,660 2,049 5,087 6,754 Debt transaction costs 46 323 188 338 Non-cash lease expense, net 108 108 359 374 Casualty losses, net 363 470 985 1,194 Deferred tax expense (benefit) 713 (532) (250) 636 Other 245 885 301 885 AFFO adjustments related to non-controlling interests in consolidated joint ventures (561) (711) (1,452) (1,829) AFFO applicable to common shares and Common Units $ 24,204 $ 21,253 $ 84,612 $ 81,319 FFO per common share and Common Unit $ 0.16 $ 0.13 $ 0.60 $ 0.54 AFFO per common share and Common Unit $ 0.20 $ 0.17 $ 0.70 $ 0.66 Weighted-average diluted common shares and Common Units 120,003 121,635 120,317 123,211

9 Reconciliation to Adjusted EBITDAre - By Ownership Interest (Unaudited) (Amounts in thousands, except statistics) 1. GIC Joint Venture is 51% owned by Summit while Other Joint Ventures are 90% owned by Summit. Summit GIC Other GIC JV Other JVs Wholly-Owned Joint Venture (1) Joint Ventures (1) Combined Pro Rata Adj Pro Rata Adj Pro Rata For The Three Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Number Rooms Sold 573,861 582,374 376,575 384,152 21,203 21,307 971,639 987,833 Number of Rooms Available 760,879 786,232 506,276 527,344 27,508 27,508 1,294,663 1,341,084 Occupancy 75.4 % 74.1 % 74.4 % 72.8 % 77.1 % 77.5 % 75.0 % 73.7 % Average Daily Rate $ 172.25 $ 162.80 $ 160.80 $ 151.35 $ 177.59 $ 158.15 $ 167.93 $ 158.25 Room Revenue PAR $ 129.91 $ 120.59 $ 119.61 $ 110.26 $ 136.88 $ 122.50 $ 126.03 $ 116.57 Room Revenue $ 98,846 $ 94,810 $ 60,555 $ 58,143 $ 3,765 $ 3,370 $ 163,166 $ 156,323 Other revenue 11,911 11,055 7,916 7,215 2,713 2,524 22,540 20,794 Total Revenue $ 110,757 $ 105,865 $ 68,471 $ 65,358 $ 6,478 $ 5,894 $ 185,706 $ 177,117 Hotel EBITDA $ 34,863 $ 31,598 $ 24,278 $ 21,784 $ 1,290 $ 737 $ 60,431 $ 54,119 % margin 31.5 % 29.8 % 35.5 % 33.3 % 19.9 % 12.5 % 32.5 % 30.6 % Net loss $ (2,216) $ (3,053) $ (2,436) $ (7,007) $ (531) $ (1,700) $ (5,183) $ (11,760) $ 1,164 $ 3,395 $ 53 $ 170 $ (3,966) $ (8,195) Depreciation and amortization 19,166 19,809 15,521 16,419 1,421 1,406 36,108 37,634 (7,605) (8,045) (142) (141) 28,361 29,448 Interest expense 11,268 8,059 10,249 11,588 409 1,029 21,926 20,676 (5,022) (5,678) (41) (103) 16,863 14,895 Interest income (182) (73) (28) (16) (7) — (217) (89) 14 8 1 — (202) (81) Income tax expense (benefit) 568 (351) 312 (1) — — 880 (352) (153) — — — 727 (352) EBITDA 28,604 24,391 23,618 20,983 1,292 735 53,514 46,109 (11,602) (10,320) (129) (74) 41,783 35,715 (Gain) loss on disposal of assets and other dispositions, net (168) — 30 57 (4) — (142) 57 (15) (28) — — (157) 29 EBITDAre 28,436 24,391 23,648 21,040 1,288 735 53,372 46,166 (11,617) (10,348) (129) (74) 41,626 35,744 Amortization of key money liabilities (109) (60) (51) (51) (18) (18) (178) (129) 25 25 2 2 (151) (102) Equity-based compensation 1,660 2,049 — — — — 1,660 2,049 — — — — 1,660 2,049 Debt transaction costs 46 1 — 323 — (1) 46 323 — (158) — — 46 165 Non-cash lease expense, net 103 101 5 7 — — 108 108 (2) (3) — — 106 105 Casualty losses, net 256 340 91 121 16 9 363 470 (45) (59) (2) (1) 316 410 Other 801 956 — — (556) (71) 245 885 — (3) 56 10 301 892 Adjusted EBITDAre $ 31,193 $ 27,778 $ 23,693 $ 21,440 $ 730 $ 654 $ 55,616 $ 49,872 $ (11,639) $ (10,546) $ (73) $ (63) $ 43,904 $ 39,263

10 Reconciliation to Adjusted EBITDAre - By Ownership Interest (Unaudited) (Amounts in thousands, except statistics) 1. GIC Joint Venture is 51% owned by Summit while Other Joint Ventures are 90% owned by Summit. Summit GIC Other GIC JV Other JVs Wholly-Owned Joint Venture (2) Joint Ventures (2) Combined Pro Rata Adj Pro Rata Adj Pro Rata For The Nine Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Number Rooms Sold 1,698,444 1,728,852 1,113,648 1,168,670 67,397 65,999 2,879,489 2,963,521 Number of Rooms Available 2,285,623 2,332,938 1,508,419 1,565,138 81,627 77,556 3,875,669 3,975,632 Occupancy 74.3 % 74.1 % 73.8 % 74.7 % 82.6 % 85.1 % 74.3 % 74.5 % Average Daily Rate $ 174.79 $ 164.98 $ 169.80 $ 163.46 $ 235.89 $ 218.14 $ 174.29 $ 165.56 Room Revenue PAR $ 129.89 $ 122.26 $ 125.36 $ 122.05 $ 194.77 $ 185.63 $ 129.49 $ 123.42 Room Revenue $ 296,870 $ 285,228 $ 189,099 $ 191,028 $ 15,898 $ 14,397 $ 501,867 $ 490,653 Other revenue 35,667 31,984 23,484 23,168 8,760 8,707 67,911 63,859 Total Revenue $ 332,537 $ 317,212 $ 212,583 $ 214,196 $ 24,658 $ 23,104 $ 569,778 $ 554,512 Hotel EBITDA $ 108,135 $ 99,038 $ 80,299 $ 81,535 $ 8,007 $ 7,476 $ 196,441 $ 188,049 % margin 32.5 % 31.2 % 37.8 % 38.1 % 32.5 % 32.4 % 34.5 % 33.9 % Net (loss) income $ (4,438) $ (3,217) $ 854 $ (6,462) $ 2,223 $ 579 $ (1,361) $ (9,100) $ (505) $ 3,109 $ (222) $ (58) $ (2,088) $ (6,049) Depreciation and amortization 58,218 58,545 46,795 49,895 4,282 3,683 109,295 112,123 (22,930) (24,449) (428) (368) 85,937 87,306 Interest expense 32,484 23,528 30,420 34,540 1,540 3,192 64,444 61,260 (14,906) (16,925) (154) (319) 49,384 44,016 Interest income (426) (294) (77) (40) (9) — (512) (334) 38 20 1 — (473) (314) Income tax expense 177 888 165 692 — — 342 1,580 (81) (339) — — 261 1,241 EBITDA 86,015 79,450 78,157 78,625 8,036 7,454 172,208 165,529 (38,384) (38,584) (803) (745) 133,021 126,200 Loss on write-down of assets 3,641 — — — — — 3,641 — — — — — 3,641 — (Gain) loss on disposal of assets and other dispositions, net (276) 38 44 98 (4) — (236) 136 (22) (48) — — (258) 88 EBITDAre 89,380 79,488 78,201 78,723 8,032 7,454 175,613 165,665 (38,406) (38,632) (803) (745) 136,404 126,288 Amortization of key money liabilities (263) (179) (154) (154) (54) (54) (471) (387) 75 75 5 5 (391) (307) Equity-based compensation 5,087 6,754 — — — — 5,087 6,754 — — — — 5,087 6,754 Debt transaction costs 187 1 1 323 — 14 188 338 — (158) — (1) 188 179 Non-cash lease expense, net 349 354 10 20 — — 359 374 (5) (10) — — 354 364 Casualty losses, net 687 880 276 291 22 23 985 1,194 (135) (143) (2) (2) 848 1,049 Other 1,681 640 — — (1,380) 245 301 885 — 2 139 (25) 440 862 Adjusted EBITDAre $ 97,108 $ 87,938 $ 78,334 $ 79,203 $ 6,620 $ 7,682 $ 182,062 $ 174,823 $ (38,471) $ (38,866) $ (661) $ (768) $ 142,930 $ 135,189

11 Reconciliation to Adjusted FFO - By Ownership Interest (Unaudited) (Amounts in thousands, except per share metrics) 1. GIC Joint Venture is 51% owned by Summit while Other Joint Ventures are 90% owned by Summit. 2. The Company includes the outstanding OP units issued by Summit Hotel OP, LP, the Company’s operating partnership, held by limited partners other than the Company because the OP units are redeemable for cash or, at the Company’s option, shares of the Company’s common stock on a one-for-one basis. Summit GIC Other GIC JV Other JVs Wholly-Owned Joint Venture (1) Joint Ventures (1) Combined Pro Rata Adj Pro Rata Adj Pro Rata For The Three Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Net loss $ (2,216) $ (3,053) $ (2,436) $ (7,007) $ (531) $ (1,700) $ (5,183) $ (11,760) $ 1,164 $ 3,395 $ 53 $ 170 $ (3,966) $ (8,195) Preferred dividends (3,968) (3,968) — — — — (3,968) (3,968) — — — — (3,968) (3,968) Distributions to and accretion of redeemable non- controlling interests (656) (656) — — — — (656) (656) — — — — (656) (656) Net loss applicable to common shares and Common Units (6,840) (7,677) (2,436) (7,007) (531) (1,700) (9,807) (16,384) 1,164 3,395 53 170 (8,590) (12,819) Real estate-related depreciation 19,023 19,664 15,117 16,012 1,403 1,388 35,543 37,064 (7,406) (7,846) (140) (139) 27,997 29,079 Loss on write-down of assets — — — — — — — — — — — — — — (Gain) loss on disposal of assets and other dispositions, net (168) — 30 57 (4) — (142) 57 (15) (28) — — (157) 29 FFO applicable to common shares and Common Units 12,015 11,987 12,711 9,062 868 (312) 25,594 20,737 (6,257) (4,479) (87) 31 19,250 16,289 Amortization of deferred financing costs 1,272 1,064 645 792 78 73 1,995 1,929 (316) (388) (8) (7) 1,671 1,534 Amortization of franchise fees 93 94 82 86 — — 175 180 (40) (42) — — 135 138 Amortization of intangible assets (61) (8) 271 271 — — 210 263 (133) (133) — — 77 130 Equity based compensation 1,660 2,049 — — — — 1,660 2,049 — — — — 1,660 2,049 Debt transaction costs 46 1 — 323 — (1) 46 323 — (158) — — 46 165 Non-cash lease expense, net 103 102 5 6 — — 108 108 (2) (3) — — 106 105 Casualty losses, net 256 340 91 121 16 9 363 470 (45) (59) (2) (1) 316 410 Deferred tax expense (benefit) 568 (386) 145 (146) — — 713 (532) (71) 72 — — 642 (460) Other 801 956 — — (556) (71) 245 885 — 1 56 7 301 893 AFFO applicable to common shares and common units (2) $ 16,753 $ 16,199 $ 13,950 $ 10,515 $ 406 $ (302) $ 31,109 $ 26,412 $ (6,864) $ (5,189) $ (41) $ 30 $ 24,204 $ 21,253 FFO per common share and Common Unit $ 0.16 $ 0.13 AFFO per common share and Common Unit $ 0.20 $ 0.17 Weighted-average diluted common shares and Common Units (2) 120,003 121,635

12 Reconciliation to Adjusted FFO - By Ownership Interest (Unaudited) (Amounts in thousands, except per share metrics) 1. GIC Joint Venture is 51% owned by Summit while Other Joint Ventures are 90% owned by Summit. 2. The Company includes the outstanding OP units issued by Summit Hotel OP, LP, the Company’s operating partnership, held by limited partners other than the Company because the OP units are redeemable for cash or, at the Company’s option, shares of the Company’s common stock on a one-for-one basis. Summit GIC Other GIC JV Other JVs Wholly-Owned Joint Venture (1) Joint Ventures (1) Combined Pro Rata Adj Pro Rata Adj Pro Rata For The Nine Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 Net (loss) income $ (4,438) $ (3,217) $ 854 $ (6,462) $ 2,223 $ 579 $ (1,361) $ (9,100) $ (505) $ 3,109 $ (222) $ (58) $ (2,088) $ (6,049) Preferred dividends (11,906) (11,906) — — — — (11,906) (11,906) — — — — (11,906) (11,906) Distributions to and accretion of redeemable non- controlling interests (1,970) (1,970) — — — — (1,970) (1,970) — — — — (1,970) (1,970) Net (loss) income applicable to common shares and Common Units (18,314) (17,093) 854 (6,462) 2,223 579 (15,237) (22,976) (505) 3,109 (222) (58) (15,964) (19,925) Real estate-related depreciation 57,804 58,118 45,586 48,674 4,228 3,629 107,618 110,421 (22,336) (23,850) (423) (362) 84,859 86,209 Loss on write-down of assets 3,641 — — — — — 3,641 — — — — — 3,641 — (Gain) loss on disposal of assets and other dispositions, net (276) 38 44 98 (4) — (236) 136 (22) (49) — — (258) 87 FFO applicable to common shares and Common Units 42,855 41,063 46,484 42,310 6,447 4,208 95,786 87,581 (22,863) (20,790) (645) (420) 72,278 66,371 Amortization of deferred financing costs 3,747 3,231 1,935 1,899 229 149 5,911 5,279 (948) (931) (23) (15) 4,940 4,333 Amortization of franchise fees 265 273 244 257 — — 509 530 (120) (126) — — 389 404 Amortization of intangible assets (115) (24) 811 811 — — 696 787 (397) (397) — — 299 390 Equity based compensation 5,087 6,754 — — — — 5,087 6,754 — — — — 5,087 6,754 Debt transaction costs 187 1 1 323 — 14 188 338 — (158) — (1) 188 179 Non-cash lease expense, net 349 354 10 20 — — 359 374 (5) (10) — — 354 364 Casualty losses, net 687 880 276 291 22 23 985 1,194 (135) (143) (2) (2) 848 1,049 Deferred tax (benefit) expense (167) 588 (83) 48 — — (250) 636 41 (24) — — (209) 612 Other 1,681 640 — — (1,380) 245 301 885 (1) 3 138 (25) 438 863 AFFO applicable to common shares and common units (3) $ 54,576 $ 53,760 $ 49,678 $ 45,959 $ 5,318 $ 4,639 $ 109,572 $ 104,358 $ (24,428) $ (22,576) $ (532) $ (463) $ 84,612 $ 81,319 FFO per common share and Common Unit $ 0.60 $ 0.54 AFFO per common share and Common Unit $ 0.70 $ 0.66 Weighted-average diluted common shares and Common Units (3) 120,317 123,211

13 Full Year 2026 Outlook (Unaudited) (Amounts in thousands, except per share metrics and statistics) 1. All pro forma information includes operating and financial results for 92 lodging assets owned as of November 3, 2026 and excludes the financial results of hotels sold by the Company after January 1, 2025. Pro forma and non-GAAP financial measures are unaudited. FYE 2026 Outlook Low High Variance to Prior Midpoint % Change to Prior Midpoint Pro Forma RevPAR Growth (1) 3.50 % 4.50 % 1.50 % — % Adjusted EBITDAre $ 181,000 $ 186,000 $ 5,000 2.8 % Adjusted FFO $ 102,500 $ 107,500 $ 5,750 5.8 % Adjusted FFO per share of common share and Common Units $ 0.85 $ 0.89 $ 0.05 6.1 % Capital Expenditures, Pro Rata $ 55,000 $ 65,000 $ — — % The Company’s updated outlook for the full year 2026 is based on 92 lodging assets owned as of November 3, 2026. Based on actual results for the first nine months of the year and recent operating trends, the Company is increasing the low and high end of its guidance ranges for pro forma RevPAR growth, Adjusted EBITDAre, Adjusted FFO, and Adjusted FFO per share. There are no additional acquisitions, dispositions, share repurchases, or capital markets activities assumed in the Company’s full year 2026 outlook.

Table of Contents Section I Section II Section III Section IV Section V Forward-Looking Statements and Non-GAAP Financial Measure Disclosures Corporate Financial Schedules Operating & Property-Level Schedules Capitalization and Debt Schedules Asset Listing

15 Pro Forma Operating Results - By Ownership Interest (Unaudited) (Amounts in thousands, except statistics) 1. Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026. For any hotels sold by the Company after January 1, 2025 (the “Disposed Hotels”), the Company excludes the financial results of each of the Disposed Hotels from January 1, 2025 to the date the Disposed Hotels were sold by the Company in determining pro forma total revenues and pro forma hotel operating expenses. The pro forma information is included to enable comparison of results for the current reporting period to results for the comparable period of the prior year and are not indicative of future results. INN Wholly-Owned (50 Hotels) GIC Joint Venture (39 Hotels) Other Joint Ventures (3 Hotels) Pro Forma (92 Hotels) For The Three Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 Pro Forma Operating Data (1) Occupancy 75.5 % 74.4 % 74.4 % 72.7 % 77.1 % 77.5 % 75.1 % 73.8 % ADR $ 172.29 $ 164.27 $ 160.80 $ 152.20 $ 177.59 $ 158.15 $ 167.95 $ 159.47 RevPAR $ 130.17 $ 122.22 $ 119.61 $ 110.65 $ 136.88 $ 122.50 $ 126.17 $ 117.69 Occupancy change 1.5 % 2.3 % (0.5) % 1.8 % ADR change 4.9 % 5.7 % 12.3 % 5.3 % RevPAR change 6.5 % 8.1 % 11.7 % 7.2 % Pro forma total revenues $ 110,379 $ 103,339 $ 68,471 $ 62,851 $ 6,477 $ 5,895 $ 185,327 $ 172,085 Pro forma hotel EBITDA $ 34,837 $ 31,219 $ 24,276 $ 20,836 $ 1,291 $ 737 $ 60,404 $ 52,792 Pro forma hotel EBITDA Margin 31.6 % 30.2 % 35.5 % 33.2 % 19.9 % 12.5 % 32.6 % 30.7 %

16 Pro Forma Operating Results - By Ownership Interest (Unaudited) (Amounts in thousands, except statistics) 1. Unaudited pro forma information includes operating results for 92 hotels owned as of September 30, 2026, as if all such hotels had been owned by the Company since January 1, 2025. For any Acquired Hotels, the Company has included in the pro forma information the financial results of each of the Acquired Hotels for the Pre-acquisition Period. The financial results for the Pre-acquisition Period were provided by the third-party owner of such Acquired Hotel prior to purchase by the Company and have not been audited or reviewed by our auditors or adjusted by us. For any Disposed Hotels, the Company excludes the financial results of each of the Disposed Hotels from January 1, 2025 to the date the Disposed Hotels were sold by the Company in determining pro forma total revenues and pro forma hotel operating expenses. The pro forma information is included to enable comparison of results for the current reporting period to results for the comparable period of the prior year and are not indicative of future results. INN Wholly-Owned (50 Hotels) GIC Joint Venture (39 Hotels) Other Joint Ventures (3 Hotels) Pro Forma (92 Hotels) For The Nine Months Ended September 30, 2026 2025 2026 2025 2026 2025 2026 2025 Pro Forma Operating Data (1) Occupancy 74.4 % 74.4 % 73.8 % 74.7 % 82.6 % 85.1 % 74.4 % 74.7 % ADR $ 175.35 $ 166.57 $ 170.01 $ 165.02 $ 235.89 $ 218.14 $ 174.70 $ 167.15 RevPAR $ 130.48 $ 123.96 $ 125.53 $ 123.19 $ 194.77 $ 185.63 $ 129.91 $ 124.91 Occupancy change — % (1.1) % (3.0) % (0.5) % ADR change 5.3 % 3.0 % 8.1 % 4.5 % RevPAR change 5.3 % 1.9 % 4.9 % 4.0 % Pro forma total revenues $ 328,383 $ 309,675 $ 211,976 $ 207,156 $ 24,658 $ 23,104 $ 565,017 $ 539,935 Pro forma hotel EBITDA $ 107,040 $ 97,860 $ 80,143 $ 79,020 $ 8,007 $ 7,476 $ 195,190 $ 184,356 Pro forma hotel EBITDA Margin 32.6 % 31.6 % 37.8 % 38.1 % 32.5 % 32.4 % 34.5 % 34.1 %

Table of Contents Section I Section II Section III Section IV Section V Forward-Looking Statements and Non-GAAP Financial Measure Disclosures Corporate Financial Schedules Operating & Property-Level Schedules Capitalization and Debt Schedules Asset Listing

18 Capitalization - Total Enterprise Value (Unaudited) (Amounts in thousands, except common share price & dividends) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Common Share Price & Dividends At quarter ended $ 5.97 $ 7.01 $ 4.42 $ 4.87 $ 5.49 High during quarter ended $ 7.17 $ 7.15 $ 4.97 $ 5.79 $ 6.00 Low during quarter ended $ 5.52 $ 4.19 $ 3.98 $ 4.73 $ 4.61 Common dividends per share $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08 Common Shares & Units Common shares outstanding 107,853 107,854 108,414 108,799 108,803 Common units outstanding 13,009 13,009 13,009 13,009 13,009 Total common shares and units outstanding 120,862 120,863 121,423 121,808 121,812 Capitalization Market value of common equity at quarter end $ 721,546 $ 847,250 $ 536,690 $ 593,205 $ 668,748 Par value of preferred equity - 6.250% Series E 160,000 160,000 160,000 160,000 160,000 Par value of preferred equity - 5.875% Series F 100,000 100,000 100,000 100,000 100,000 Par value of preferred equity - 5.250% Series Z 50,000 50,000 50,000 50,000 50,000 Consolidated total debt 1,383,891 1,389,084 1,409,154 1,404,143 1,433,483 Less: Consolidated unrestricted cash (61,287) (36,933) (44,773) (36,110) (41,135) Consolidated total enterprise value 2,354,150 2,509,401 2,211,071 2,271,238 2,371,096 Noncontrolling interest in consolidated total debt - GIC JV (318,937) (319,032) (319,066) (322,735) (327,311) Noncontrolling interest in consolidated total debt - Other JVs (5,800) (5,800) (5,800) (5,800) (5,800) Noncontrolling interest in consolidated total cash - GIC JV 9,094 7,372 9,690 5,759 7,116 Noncontrolling interest in consolidated total cash - Other JVs 317 213 272 256 239 Pro rata total enterprise value $ 2,038,824 $ 2,192,154 $ 1,896,167 $ 1,948,718 $ 2,045,340

19 As of September 30, 2026 Spread Base Rate Interest Rate Fixed/ Variable Fully-Extended Maturity Date Number of Encumbered Properties Principal Outstanding Non- controlling Interests Pro Rata Principal Outstanding Senior Credit Facility $400 Million Revolver 1.95% 3.90% 5.85% Variable June 2031 n/a $ — $ — $ — $200 Million Term Loan 1.90% 3.90% 5.80% Variable June 2031 n/a 200,000 — 200,000 $50 Million Delayed Draw Term Loan 1.90% 3.89% 5.79% Variable June 2031 n/a — — — Total Senior Credit and Term Loan Facility 200,000 — 200,000 Term Loans Regions Bank 2024 Term Loan Facility 1.90% 3.90% 5.80% Variable February 2029 n/a 200,000 — 200,000 Bank of America, N.A. 2025 Delayed Draw Term Loan 1.90% 3.89% 5.79% Variable March 2030 n/a 275,000 — 275,000 475,000 — 475,000 Total Operating Partnership Debt 675,000 — 675,000 Brickell Joint Venture Mortgage Loan Wells Fargo Bank, N.A. 2.30% 3.68% 5.98% Variable May 2030 2 58,000 (5,800) 52,200 GIC Joint Venture Credit Facility and Term Loans $125 Million Revolver 2.15% 3.90% 6.05% Variable September 2028 n/a 125,000 (61,250) 63,750 $125 Million Term Loan 2.10% 3.90% 6.00% Variable September 2028 n/a 125,000 (61,250) 63,750 Bank of America, N.A. 2025 Term Loan 2.35% 3.90% 6.25% Variable July 2030 n/a 383,430 (187,881) 195,549 Wells Fargo n/a n/a 4.99% Fixed June 2028 1 12,039 (5,899) 6,140 PACE Loan n/a n/a 6.10% Fixed July 2040 n/a 5,422 (2,657) 2,765 Total GIC Joint Venture Credit Facility and Term Loans 1 650,891 (318,937) 331,954 Total Joint Venture Debt 3 708,891 (324,737) 384,154 Total Debt 3 $ 1,383,891 $ (324,737) $ 1,059,154 Debt Schedule - Part I (Unaudited) (Amounts in thousands except for number of properties)

20 Debt Schedule - Part II (Unaudited) (Amounts in thousands) As of September 30, 2026 Principal Amount Outstanding Fixed Debt Outstanding Variable Debt Outstanding Effective Interest Rate Total Debt $ 1,383,891 $ 17,461 $ 1,366,430 5.97 % Non-controlling Interests in Joint Ventures (324,737) (8,556) (316,181) Pro Rata Debt $ 1,059,154 $ 8,905 $ 1,050,249 5.91 % % of Pro Rata Debt 100 % 1 % 99 % Pro Rata Adjustment for Swaps in Effect — 530,200 (530,200) Pro Rata Debt Including Swaps $ 1,059,154 $ 539,105 $ 520,049 5.50 % % of Pro Rata Debt Including Swaps 100 % 51 % 49 % Notional Effective Maturity Interest Rate Swaps Value Swap Rate Date Date Capital One - 2022 - $100mm $ 100,000 2.6000 % January 31, 2023 January 31, 2027 Regions - 2022 - $100mm 100,000 2.5625 % January 31, 2023 January 31, 2029 Wells Fargo - 2025 - $58mm 58,000 3.5740 % June 2, 2025 May 15, 2028 Bank of America - 2025 - $150mm 150,000 3.2605 % January 13, 2026 January 13, 2028 Fifth-Third Bank - 2025 - $150mm 150,000 3.2650 % January 13, 2026 January 13, 2028 U.S. Bank National Association - 2025 - $125mm 125,000 3.3135 % December 31, 2025 December 31, 2027 Total Swaps $ 683,000 3.0989 %

21 Debt Schedule - Part III (Unaudited) (1) Amounts are in millions ($) and assumes fully-extended maturities for all loans. Reflects pro rata debt totals. Pro Rata Debt Maturity Ladder at September 30, 2026 $275.0 $200.0 $127.5 $52.2 $200.0 $195.6 $6.1 $2.8 2025 Delayed Draw Term Loan $200M Senior Term Loan GIC JV Credit Facility Brickell JV Mortgage Debt Regions Bank 2024 Term Loan Facility $400M GIC JV Term Loan Mortgage Debt 2026 2027 2028 2029 2030 2031 2032 + $0 $100 $200 $300 $400 $500 $600 (1)

Table of Contents Section I Section II Section III Section IV Section V Forward-Looking Statements and Non-GAAP Financial Measure Disclosures Corporate Financial Schedules Operating & Property-Level Schedules Capitalization and Debt Schedules Asset Listing

23 Asset Listing (Unaudited) Hotels Rooms STR Chain Scale STR Location INN Wholly-Owned (100% Ownership) Hyatt Place - Denver South/Park Meadows 1 127 Upscale Suburban Hyatt Place - Denver Tech Center 1 126 Upscale Suburban Hyatt Place - Scottsdale/Old Town 1 126 Upscale Resort Holiday Inn Express & Suites - San Francisco/Fisherman's Wharf 1 252 Upper Midscale Urban Hyatt Place - Orlando/Convention Center 1 151 Upscale Resort Hyatt Place - Orlando/Universal 1 150 Upscale Resort Hyatt Place - Minneapolis/Downtown 1 213 Upscale Urban Springhill Suites - Nashville MetroCenter 1 78 Upscale Urban Courtyard - New Orleans Downtown Near the French Quarter 1 140 Upscale Urban Hyatt Place - Portland Airport/Cascade Station 1 136 Upscale Airport Residence Inn - Portland Airport at Cascade Station 1 124 Upscale Airport Courtyard - New Orleans/Metairie 1 153 Upscale Suburban Staybridge Suites - Denver/Cherry Creek 1 121 Upscale Suburban Hyatt House - Denver Tech Center 1 135 Upscale Suburban Courtyard - Atlanta Downtown 1 150 Upscale Urban Hyatt Place - Garden City 1 122 Upscale Suburban Residence Inn - New Orleans/Metairie 1 120 Upscale Suburban Hilton Garden Inn - Greenville 1 120 Upscale Suburban Fairfield Inn & Suites - Louisville Downtown 1 140 Upper Midscale Urban

24 Asset Listing (Unaudited) Hotels Rooms STR Chain Scale STR Location INN Wholly-Owned (100% Ownership), (cont.) SpringHill Suites - Louisville Downtown 1 198 Upscale Urban SpringHill Suites - Indianapolis Downtown 1 156 Upscale Urban Courtyard - Indianapolis Downtown 1 297 Upscale Urban Hampton Inn & Suites - San Diego/Poway 1 108 Upper Midscale Suburban Hampton Inn & Suites - Camarillo 1 116 Upper Midscale Suburban Hilton Garden Inn - Houston/Galleria Area 1 182 Upscale Urban Doubletree by Hilton San Francisco Airport North Bayfront 1 210 Upscale Airport Hilton Garden Inn - Houston/Energy Corridor 1 190 Upscale Suburban Hampton Inn & Suites - Austin/Downtown/Convention Center 1 209 Upper Midscale Urban Hampton Inn & Suites - Minneapolis/Downtown 1 211 Upper Midscale Urban Residence Inn - Bridgewater/Branchburg 1 101 Upscale Suburban Hyatt House - Across From Universal Orlando Resort 1 168 Upscale Resort Residence Inn - Baltimore/Hunt Valley 1 141 Upscale Suburban Hotel Indigo - Asheville Downtown 1 117 Upper Upscale Urban Courtyard - Atlanta Decatur Downtown/Emory 1 179 Upscale Suburban Courtyard - Nashville Vanderbilt/West End 1 226 Upscale Urban Residence Inn - Atlanta Midtown/Peachtree at 17th 1 160 Upscale Urban Hyatt House - Miami Airport 1 163 Upscale Airport Marriott - Boulder 1 165 Upper Upscale Urban Hyatt Place - Chicago/Downtown-The Loop 1 206 Upscale Urban Hyatt Place - Phoenix/Mesa 1 152 Upscale Suburban Courtyard - Oceanside Fort Lauderdale Beach 1 261 Upscale Resort

25 Asset Listing (Unaudited) Hotels Rooms STR Chain Scale STR Location INN Wholly-Owned (100% Ownership), (cont.) Courtyard - Charlotte City Center 1 182 Upscale Urban Hampton Inn & Suites - Baltimore Inner Harbor 1 116 Upper Midscale Urban Residence Inn - Baltimore Downtown/Inner Harbor 1 189 Upscale Urban Courtyard - Fort Worth Downtown/Blackstone 1 203 Upscale Urban AC Hotel - Atlanta Downtown 1 255 Upscale Urban Hilton Garden Inn - Waltham 1 148 Upscale Suburban Residence Inn - Cleveland Downtown 1 175 Upscale Urban Courtyard - New Haven at Yale 1 207 Upscale Urban Residence Inn - Boston/Watertown 1 150 Upscale Suburban INN Wholly-Owned (100% Ownership) 50 8,225

26 Asset Listing (Unaudited) Hotels Rooms STR Chain Scale STR Location GIC Joint Venture (51% Ownership) Courtyard - Scottsdale North 1 153 Upscale Resort Springhill Suites - Scottsdale North 1 121 Upscale Resort Hampton Inn & Suites - Tampa/Ybor City/Downtown 1 138 Upper Midscale Urban Homewood Suites - Aliso Viejo/Laguna Beach 1 129 Upscale Suburban Courtyard - Pittsburgh Downtown 1 183 Upscale Urban Homewood Suites - Tucson/St. Philip's Plaza University 1 122 Upscale Resort Hampton Inn & Suites - Silverthorne 1 88 Upper Midscale Resort Hilton Garden Inn - San Jose / Milpitas 1 161 Upscale Suburban Residence Inn - Portland Downtown / Riverplace 1 258 Upscale Urban Residence Inn - Portland / Hillsboro 1 122 Upscale Suburban Residence Inn - Steamboat Springs 1 110 Upscale Small Metro/Town Embassy Suites - Tucson / Paloma Village 1 120 Upper Upscale Resort Residence Inn - Scottsdale North 1 120 Upscale Resort AC Hotel - Dallas Downtown 1 128 Upscale Urban Residence Inn - Dallas Downtown 1 121 Upscale Urban Hampton Inn & Suites - Dallas Downtown 1 176 Upper Midscale Urban SpringHill Suites - Dallas Downtown 1 148 Upscale Urban Hilton Garden Inn - Grapevine at Silver Lake Crossing 1 152 Upscale Airport Holiday Inn Express & Suites - DFW / Grapevine 1 95 Upper Midscale Airport Courtyard - Dallas DFW Airport / North Grapevine 1 181 Upscale Airport TownePlace Suites - Dallas / Grapevine 1 120 Upper Midscale Airport Hyatt Place - Dallas / Grapevine 1 125 Upscale Airport

27 Asset Listing (Unaudited) Hotels Rooms STR Chain Scale STR Location GIC Joint Venture (51% Ownership) AC Hotel - Dallas / Frisco 1 150 Upscale Suburban Residence Inn - Dallas / Frisco 1 150 Upscale Suburban Canopy Hotel - Dallas / Frisco Station 1 150 Upper Upscale Suburban Residence Inn - Tyler 1 119 Upscale Small Metro/Town AC Hotel - Houston Downtown 1 195 Upscale Urban Homewood Suites - Midland 1 118 Upscale Suburban Hyatt Place - Lubbock 1 125 Upscale Urban Embassy Suites - Amarillo Downtown 1 226 Upper Upscale Urban AC Hotel - Oklahoma City / Bricktown 1 142 Upscale Urban Hyatt Place - Oklahoma City / Bricktown 1 134 Upscale Urban Holiday Inn Express & Suites - Oklahoma City Downtown / Bricktown 1 124 Upper Midscale Urban SpringHill Suites - New Orleans Downtown / Canal Street 1 74 Upscale Urban TownePlace Suites - New Orleans Downtown / Canal Street 1 105 Upper Midscale Urban Canopy Hotel - New Orleans Downtown 1 176 Upper Upscale Urban The Nordic Lodge - Steamboat Springs 1 45 Independent Small Metro/Town Hampton Inn Boston-Logan Airport 1 250 Upper Midscale Airport Hilton Garden Inn Tysons Corner 1 149 Upscale Urban GIC Joint Venture (51% Ownership) 39 5,503

28 Asset Listing (Unaudited) (1) Asset listing excludes two parking garages located in Dallas, TX and Frisco, TX. Hotels Rooms STR Chain Scale STR Location Other Joint Ventures (90% Ownership) AC Hotels by Marriott - Miami Brickell 1 156 Upscale Urban Element - Miami Brickell 1 108 Upscale Urban Onera - Fredericksburg 1 35 N/A Small Metro/Town Other Joint Ventures (90% Ownership) 3 299 Pro Forma (1) 92 14,027

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