On June 12, 2026, Summit Hotel Properties, Inc. (NYSE: INN) revealed significant changes within its executive team, as Executive Vice President and Chief Financial Officer William "Trey" Conkling announced his departure from the company effective June 15, 2026. This transition marks the end of Conkling’s five-year tenure at the company, during which he played a pivotal role in its financial strategies and operational growth.

1. Acknowledgment of Contributions

In a statement regarding Conkling's departure, Jonathan Stanner, President and Chief Executive Officer of Summit Hotel Properties, expressed gratitude for Conkling's contributions during his time with the company. "Trey has been a valued member of our executive leadership team over the past five years, and we appreciate his many contributions to Summit during his tenure," Stanner noted. He extended his best wishes to Conkling for his future endeavors and emphasized the importance of Conkling’s role in the company.

Conkling, reflecting on his time with Summit, stated, "It has been a pleasure to work at Summit for the past five years, and I am proud of all that we have accomplished together." He underscored his commitment to ensuring a smooth transition and expressed confidence in the continued success of the company.

2. Transition Plan

To facilitate an orderly transition, Conkling will remain available in an advisory capacity until September 30, 2026. Summit Hotel Properties has engaged a nationally recognized search firm to assist in identifying a suitable successor for the CFO position. Meanwhile, Jonathan Stanner will also take on the responsibilities of principal financial officer, ensuring continuity in leadership during this pivotal change.

The company clarified that Conkling's departure is not linked to any disagreements regarding the company's operations, policies, or financial disclosures, a point that may reassure stakeholders concerned about leadership stability.

3. Company Overview

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust (REIT) specializing in premium-branded lodging properties. The company focuses on efficient operating models primarily within the upscale segment of the lodging industry. As of the date of the press release, Summit's portfolio comprised 94 assets, including 52 wholly owned properties, offering a total of 14,226 guestrooms across 24 states.

In light of the ongoing recovery and growth in the hospitality sector, Summit Hotel Properties remains committed to capitalizing on market opportunities while maintaining high operational standards.

4. Conclusion

As Summit Hotel Properties navigates this management transition, stakeholders will be closely watching how the leadership changes impact the company's strategic direction and financial performance. With Stanner at the helm as both CEO and principal financial officer, the company aims to ensure a smooth transition while pursuing its long-term growth objectives in the competitive lodging industry.

For further updates and information, investors and interested parties can visit Summit Hotel Properties' official website and follow the company on social media platforms.

Original press release