An unknown buyer acquired Hilton Garden Inn College Station from Summit Hotel Properties, Inc. and GIC Private Limited for $11 million.
May 30, 2024
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An unknown buyer acquired Hilton Garden Inn College Station from Summit Hotel Properties, Inc. (NYSE:INN) and GIC Private Limited for $11 million on April 30, 2024. Net proceeds from the transaction were used to repay debt and other general corporate purposes of the joint venture, including a partial repayment of the GIC joint venture term loan by $6 million.
An unknown buyer completed the acquisition of Hilton Garden Inn College Station from Summit Hotel Properties, Inc. (NYSE:INN) and GIC Private Limited on April 30, 2024.
Summit Hotel Properties, Inc. is a real estate investment trust. The Company is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 99 assets, 56 of which are wholly owned, with a total of 14,785 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. Its guestrooms operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt), and InterContinental Hotels Group (IHG). It holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Substantially, all of its assets are held by, and all of its operations are conducted through, the Operating Partnership.
SUMMIT HOTEL PROPERTIES, INC. 
