Summit founder steps down

Summit Hotel Properties? founder and executive chairman Kerry W. Boekelheide has stepped down. ?I am leaving at a time when the company is on a great path and it is consistent with my personal plans to pursue hotel development on a full-time basis,? said Boekelheide.??The board afforded me the opportunity to begin pursuing this last year and I am excited to get back to my roots of hotel development. In my thirty years, I have never seen a more dedicated management team and I have the utmost confidence in their ability to continue the growth and success of Summit.?
Boekelheide founded The Summit Group in 1991 and served as Chief Executive Officer until 2010.
Thomas W. Storey assumes the role of chairman.
Summit Hotel Properties is a publicly traded real estate investment trust focused primarily on acquiring and owning premium-branded, select-service hotels in the upscale and upper-midscale segments of the lodging industry. As of?August 3, 2015, the company?s portfolio consisted of 95 hotels with a total of 12,175 guestrooms.