AUSTIN,
Texas, Sept. 12, 2023 /PRNewswire/ -- Summit
Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced
the publication of its annual Corporate Responsibility Report for
2023, which presents the Company's ongoing commitment to creating
long-term value for the business and industry by investing
responsibly in safeguarding the environment and supporting its
employees, communities, and other stakeholders.
"We are pleased to publish an updated report detailing our
significant progress regarding environmental, social, and
governance initiatives. Over the past year, we have developed
a climate action plan to achieve our emissions reduction target of
30% by year-end 2025. Our climate plan includes active data and
energy management programs and systems to enhance building and
operational efficiencies and continued investments in clean energy.
As of year-end 2022, we have reduced our emissions by 15% from our
2019 baseline year by reducing our energy consumption by 7% from
our 2019 baseline year and increasing the percentage of our
electricity sourced from clean energy to 6%. We have expanded our
electric vehicle charging infrastructure by 15% and increased the
number of properties with ENERGY STAR® certifications by 60% over
the prior year," stated Jonathan P.
Stanner, President and Chief Executive Officer. "Our
efforts relating to diversity, equity and inclusion have resulted
in our corporate employee workforce becoming increasingly
diversified over the past year with individuals from
underrepresented groups employed with our company increasing from
48% at year-end 2021 to 56% at year-end 2022. Through the
Summit Foundation, we have continued our ongoing deep commitment to
supporting our local communities with significant charitable giving
and volunteer service hours," continued Mr. Stanner.
The Company has set performance reduction targets for greenhouse
gas emissions and water using the Greenhouse Gas Protocol ("GHG
Protocol") as a guideline and aligned its program with the Global
Reporting Initiative ("GRI") and Task Force on Climate-Related
Financial Disclosures ("TCFD") frameworks to identify
sustainability issues that are material to our business. The
Company has also developed new social programs to promote greater
inclusion and connectivity between its employees and operating
partners and continues to invest in human capital development
through numerous employee training and education opportunities. The
Corporate Responsibility Report is designed to help stakeholders
better understand the Company's commitments to environmental
stewardship, social responsibility and governance, and resilience.
The report can be viewed in the "Responsibility" section of the
Company's website at
http://www.shpreit.com/responsibility/about.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly-traded real estate
investment trust focused on owning premium-branded lodging
properties with efficient operating models primarily in the Upscale
segment of the lodging industry. As of September 12, 2023, the Company's portfolio
consisted of 101 assets, 57 of which are wholly owned, with a total
of 15,035 guestrooms located in 24 states.
For additional information, please visit the Company's website,
www.shpreit.com, and follow the Company on Twitter at
@SummitHotel_INN.
Forward Looking Statements
This press release contains statements that are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Act of 1934,
as amended, pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are generally identifiable by use of forward-looking
terminology such as "may," "will," "should," "potential," "intend,"
"expect," "seek," "anticipate," "estimate," "approximately,"
"believe," "could," "project," "predict," "forecast," "continue,"
"plan," "likely," "would" or other similar words or
expressions. These forward-looking statements relate to the
payment of dividends. Forward-looking statements are based on
certain assumptions and can include future expectations, future
plans and strategies, financial and operating projections or other
forward-looking information. These forward-looking statements are
subject to various risks and uncertainties, not all of which are
known to the Company and many of which are beyond the Company's
control, which could cause actual results to differ materially from
such statements. These risks and uncertainties include, but are not
limited to, the state of the U.S. economy, supply and demand in the
hotel industry and other factors as are described in greater detail
in the Company's filings with the Securities and Exchange
Commission, including, without limitation, the Company's Annual
Report on Form 10-K for the year ended December 31, 2022. Unless legally required, the
Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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SOURCE Summit Hotel Properties, Inc.