OREANDA-NEWS. September 05, 2012. GE Capital, Franchise Finance recently provided USD 15 million to Summit Hotel Properties, Inc. The funding provides USD 9.75 million for a Courtyard® by Marriott and USD 5.25 million for a Springhill Suites® by Marriott to refinance existing debt on the two hotels.


 “We have a long-standing relationship with GE Capital, Franchise Finance,” says Dan Hansen, president and CEO, Summit. “We appreciate the consistency in their product, process, and execution, all of which allow us to grow more efficiently.”

 Based in Sioux Falls, Summit owns 74 hotels in 20 states.

 “We are very pleased to be able to build on our already extensive relationship with Summit,” says Jim Petty, senior vice president, GE Capital, Franchise Finance.

 Summit focuses on acquiring and owning premium-branded, select-service hotels. They most recently added their 74th hotel with a Residence Inn® by Marriott in Arlington, Texas.