30 December 2013
Summit Hotel Properties, Inc. (NYSE: INN) said that David S. Kay has stepped down from the company´s board of directors as of December 20, 2013 due to the time commitments required by his new position as president of American Realty Capital Properties, Inc. (NASDAQ: ARCP).
Kerry W. Boekelheide, Summit´s executive board chairman, said, “His counsel over the past three years has aided Summit in its growth from 65 to 92 hotels with a total enterprise value of nearly USD1.4bn. His new position is a great opportunity for him, and we wish him well in his new endeavor.”
Summit Hotel Properties is a 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.