We are a publicly-traded real estate investment trust organized to continue and expand the existing hotel investment business of our predecessor, Summit Hotel Properties, LLC, a leading U.S. hotel owner. We focus primarily on owning premium-branded, select-service hotels in the Upscale segment of the U.S. lodging industry. Our current portfolio consists of 81 hotels with a total of 10,964 guestrooms located in 23 states. Our hotels are located in markets in which we have extensive experience and which exhibit multiple demand generators, such as business and corporate headquarters, retail centers, airports, and tourist attractions.
Based on total number of guestrooms, approximately 86% of our portfolio is positioned in the top 50 metropolitan statistical areas, or MSAs, and approximately 95% is located within the top 100 MSAs. Based on total number of guestrooms, approximately 99% of our hotels operate under premium franchise brands owned by Marriott International, Inc. (Courtyard by Marriott, Residence Inn by Marriott, Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, and Fairfield Inn & Suites by Marriott), Hilton Worldwide (DoubleTree, Hampton Inn, Hampton Inn & Suites, Homewood Suites, and Hilton Garden Inn), InterContinental Hotels Group (Holiday Inn, Holiday Inn Express, Holiday Inn Express & Suites, Hotel Indigo, and Staybridge Suites), and an affiliate of Hyatt Hotels Corporation (Hyatt Place and Hyatt House).