Summit Hotel Properties named new finance and operations chiefs, and the finance chief has real-estate deal experience. Their agreements include pay and possible severance, but the filing reports no change to company results or plans.
Nieves has experience managing company finances and working on real-estate deals. That background could help Summit, but the filing reports no change to hotel operations, sales, or profit. The agreements include pay, bonus eligibility, and possible severance payments. These create costs, but the filing gives no estimate of their effect on Summit.
PENN is named as Michael Nieves's former employer. The filing reports no change to PENN's business or results, so his appointment at Summit does not change PENN's outlook.
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