Summit Hotel Properties, Inc. — Director's Dealing 2011

Feb 15, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Summit Hotel Properties, Inc. (INN)
CIK: 0001497645
Period of Report: 2011-02-14

Reporting Person: Aniszewski Craig J (EVP and COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-14	OP Units	$	J	4105	Acquired		Common Stock (4105)	Direct

Footnotes

F1: Represents common units of limited partnership interest ("OP Units") in Summit Hotel OP, LP, the operating partnership of the Issuer (the "Operating Partnership"). The Issuer is the sole member of the general partner of the Operating Partnership.

F2: Holders of OP Units have redemption rights that enable them to cause the Operating Partnership to redeem their OP Units for cash or, at the option of the Issuer, for shares of common stock, par value $0.01 per share, of the Issuer ("Common Stock") on a one-for-one basis beginning one year after the issuance of the OP Units.

F3: The OP Units were issued pursuant to a merger agreement between the Operating Partnership and its predecessor, Summit Hotel Properties, LLC (the "LLC"), pursuant to which the LLC merged with and into the Operating Partnership (the "Merger").

F4: Not applicable.

F5: The value of each OP Unit was $9.75 as of the Transaction Date, based on the price per share of the Common Stock at the time of the Issuer's initial public offering.