| SECURITIES AND EXCHANGE
COMMISSION Washington, D.C. 20549 |
SCHEDULE 13G |
UNDER THE SECURITIES EXCHANGE ACT OF 1934
|
(Amendment
No. 1
)*
|
Summit Hotel Properties, Inc. (Name of Issuer) |
Common Stock, $0.01 par value (Title of Class of Securities) |
866082100 (CUSIP Number) |
12/31/2024 (Date of Event Which Requires Filing of this Statement) |
| Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |
 Rule
13d-1(b) |
 Rule
13d-1(c) |
| Rule
13d-1(d) |
SCHEDULE 13G |
| CUSIP No. | 866082100 |
| 1 | Names of Reporting Persons H/2 CREDIT MANAGER LP | ||||||||
| 2 | Check the appropriate box if a member of a Group (see
instructions)
(a)
(b) | ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization DELAWARE | ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting
Person 8,909,500.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes
certain shares (See Instructions) | ||||||||
| 11 | Percent of class represented by amount in row (9) 8.3 % | ||||||||
| 12 | Type of Reporting Person (See Instructions) IA, PN |
SCHEDULE 13G |
| CUSIP No. | 866082100 |
| 1 | Names of Reporting Persons H/2 CREDIT MANAGER GP LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (see
instructions)
(a)
(b) | ||||||||
| 3 | Sec Use Only | ||||||||
| 4 | Citizenship or Place of Organization DELAWARE | ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 9 | Aggregate Amount Beneficially Owned by Each Reporting
Person 8,909,500.00 | ||||||||
| 10 | Check box if the aggregate amount in row (9) excludes
certain shares (See Instructions) | ||||||||
| 11 | Percent of class represented by amount in row (9) 8.3 % | ||||||||
| 12 | Type of Reporting Person (See Instructions) HC |
SCHEDULE 13G |
| Item 1. | ||
| (a) | Name of issuer: Summit Hotel Properties, Inc. | |
| (b) | Address of issuer's principal executive
offices: 13215 BEE CAVE PARKWAY, SUITE B-300, AUSTIN, TEXAS, 78738 | |
| Item 2. | ||
| (a) | Name of person filing: This Schedule 13G is filed by the following Reporting Persons:
(i) H/2 Credit Manager LP is the principal investment manager to a number of private funds
(collectively, the "H/2 Funds"). H/2 SO Manager IV LP, H/2 SO Manager V LP and TRS II Manager
LP are Delaware limited partnerships and relying advisers to H/2 Credit Manager LP that serve
as investment managers to certain H/2 Funds. The shares reported in this Schedule 13G are
held in the H/2 Funds advised by H/2 SO Manager IV LP, H/2 SO Manager V LP and TRS II
Manager LP.
(ii) H/2 Credit Manager GP LLC is the general partner of H/2 Credit Manager LP. Together with H/2
SO Manager GP IV LLC, H/2 SO Manager GP V LLC and H/2 TRS II Manager GP LLC, the general
partners of the relying advisers, H/2 Credit Manager GP LLC may be deemed to be the indirect
beneficial owners of the shares of Common Stock by virtue of such position.
(iii) The Reporting Persons have entered into a Joint Filing Agreement, dated February 14, 2025, a
copy of which is filed with this Schedule 13G, pursuant to which the Reporting Persons have
agreed to file this statement jointly in accordance with the provisions of Rule 13d-1(k)(1)
under the Act. | |
| (b) | Address or principal business office or, if
none, residence: H/2 Credit Manager LP
680 Washington Boulevard, Seventh Floor
Stamford, CT 06901 | |
| (c) | Citizenship: H/2 Credit Manager LP is a Delaware limited partnership.
H/2 Credit Manager GP LLC is a Delaware liability company. | |
| (d) | Title of class of securities: Common Stock, $0.01 par value | |
| (e) | CUSIP No.: 866082100 | |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: | |
| (a) | Broker
or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | Bank
as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | An
investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); | |
| (f) | An
employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); | |
| (g) | A
parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); | |
| (h) | A
savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.
1813); | |
| (i) | A
church plan that is excluded from the definition of an investment company under section 3(c)(14)
of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | A
non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S.
institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
| (k) | Group,
in accordance with Rule 240.13d-1(b)(1)(ii)(K). | |
| Item 4. | Ownership | |
| (a) | Amount beneficially owned: See Item 9 of the cover page for each Reporting Person. | |
| (b) | Percent of class: See Item 11 of the cover page for each Reporting Person. % | |
| (c) | Number of shares as to which the person has: | |
| (i) Sole power to vote or to direct the vote: See Item 5 of the cover page for each Reporting Person. | ||
| (ii) Shared power to vote or to direct the
vote: See Item 6 of the cover page for each Reporting Person. | ||
| (iii) Sole power to dispose or to direct the
disposition of: See Item 7 of the cover page for each Reporting Person. | ||
| (iv) Shared power to dispose or to direct the
disposition of: See Item 8 of the cover page for each Reporting Person. | ||
| Item 5. | Ownership of 5 Percent or Less of a Class. | |
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. | |
Not Applicable
| ||
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. | |
Not Applicable
| ||
| Item 8. | Identification and Classification of Members of the Group. | |
Not Applicable
| ||
| Item 9. | Notice of Dissolution of Group. | |
Not Applicable
| ||
| Item 10. | Certifications: |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
|
| SIGNATURE | |
After reasonable inquiry and to the
best of my knowledge and belief, I certify that the information set forth in this statement is
true, complete and correct. |
|
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|
Exhibit
Information |
Exhibit 1: Joint Filing Agreement |