AUSTIN, TX—Jonathan Stanner has been promoted to president/CEO of Summit Hotel Properties, as Dan Hansen transitions to the role of executive chairman of the board of directors effective Jan. 15. Stanner, the company’s current EVP/CFO/treasurer, will also become a member of the board of directors on Jan. 15.
“It has been a tremendous privilege to have had the opportunity to lead Summit through its significant evolution since our IPO in 2011,” said Hansen. “Thanks to the efforts of our entire leadership team, we are well positioned for future success. I am excited to transition this role to Jon, who is an integral member of our team and has been deeply involved in crafting and executing our strategic vision. He is well equipped to lead Summit through its next phase of growth.”
Hansen will work closely with Stanner on his transition to CEO and will assume the overall responsibilities of executive chairman, including continued collaboration with the board and Summit’s executive team in the execution of the company’s strategic plans.
Stanner joined Summit in 2017 as EVP/chief investment officer and became EVP/CFO/treasurer in 2018, leading the company’s finance, accounting and investment activities. Prior to joining Summit, he held various roles at Strategic Hotels & Resorts, Inc., the formerly publicly traded lodging REIT and affiliate of Blackstone Real Estate Partners.
“I am deeply honored to assume the roles of president/CEO/director and energized to be afforded the opportunity to lead this great company and advance our position as an industry leader,” said Stanner. “During my time with Summit, I have had the unique privilege to work alongside some of the industry’s most talented individuals, and I would like to thank Dan for his guidance and support and the board for placing its confidence and trust in me.”
The company has initiated a comprehensive search process with the assistance of a leading executive recruiting firm to identify a new CFO.