The former PENN Entertainment executive brings experience in corporate finance, real estate investment, and legal advisory to his new role.
Summit Hotel Properties, Inc. (NYSE: INN) has appointed Mike Nieves as Executive Vice President and Chief Financial Officer, effective November 1, 2026. He joins the Austin-based hotel real estate investment trust (REIT) with a professional background spanning corporate law, investment banking, real estate advisory, and hospitality finance.
Nieves most recently served as Senior Vice President of Finance and Treasurer at PENN Entertainment, where he managed investor relations, capital markets, financial planning and analysis, treasury, and risk management.
His appointment brings a finance executive with experience on both sides of major business decisions: advising companies on transactions and managing financial strategy from within an organization.
From PENN Entertainment to Summit Hotel Properties
At PENN Entertainment, a publicly traded gaming, entertainment, and hospitality company, Nieves oversaw several of the financial functions that help determine how a business funds its operations, manages risk, and communicates with investors.
He joined PENN in March 2022, moving into an industry that was new to him but building on years of experience in corporate finance and real estate.
His decision to move from advisory work into corporate leadership was deliberate. In a profile published by Hispanic Executive, Nieves discussed his desire to move beyond advising companies and become more directly involved in executing long-term business strategies.
That career decision helps explain his progression from investment banking and advisory roles into senior financial leadership.
At Summit, he enters a different segment of the hospitality business. Rather than operating casinos and entertainment destinations, the company focuses on owning hotel real estate, where financing decisions, investment opportunities, and property performance are closely connected.
A Career Connecting Finance, Real Estate, and Law
Before joining PENN Entertainment, Nieves worked as a Director in the M&A and Corporate Advisory group at JLL, advising on real estate dispositions, strategic transactions, and capital-raising initiatives.
Earlier in his career, he served as Vice President in Citigroup's Real Estate and Lodging Investment Banking Group, gaining experience with financial transactions involving hotel and real estate businesses.
His professional journey began at Willkie Farr & Gallagher, where he practiced corporate law before transitioning into finance.
Nieves holds a bachelor's degree from the University of Michigan, a Juris Doctor from American University Washington College of Law, and an MBA from the University of Virginia's Darden School of Business.
This combination of legal training, investment banking, and corporate finance gives him experience evaluating transactions from different perspectives, including their financial structure, business objectives, and potential risks.
His background is particularly relevant to Summit, where decisions about acquisitions, financing, and portfolio management are central to the company's business.
A Leadership Philosophy Beyond the Numbers
Nieves' leadership approach adds another dimension to his professional profile.
In his interview with Hispanic Executive, he discussed the value of listening to different perspectives, encouraging open communication, and creating an environment where employees feel comfortable contributing ideas.
His emphasis on collaboration is especially interesting given the technical nature of his work. Finance teams must manage complex information and significant business decisions, but they also depend on people who can question assumptions, communicate clearly, and work across departments.
For Nieves, moving into corporate leadership has meant taking responsibility not only for financial results but also for the teams and processes behind them.
That experience will be relevant as he takes on his new responsibilities at Summit Hotel Properties, where financial decisions connect with property operations, investment planning, and shareholder expectations.
Supporting Summit's Hotel Investment Strategy
Summit Hotel Properties is a publicly traded REIT focused primarily on owning premium-branded, select-service hotels in the upscale and upper-midscale lodging segments.
Unlike a traditional hotel operator, a REIT must evaluate its properties as long-term investments while responding to changes in financing costs, hotel performance, and market conditions.
The CFO plays an important role in those decisions, overseeing financial strategy and helping the company balance investment opportunities with its financial obligations.
Nieves' experience in capital markets, treasury, risk management, and real estate transactions aligns with several of these responsibilities.
His appointment comes at a time when hotel owners continue to navigate changing operating costs, financing conditions, and traveler demand. For publicly traded companies, maintaining clear communication with investors is another ongoing responsibility.
While Summit has not announced a specific acquisition or financing initiative connected to Nieves' appointment, his experience provides a relevant foundation for managing the company's financial priorities.
FerrConn Perspective
What makes Mike Nieves' appointment particularly interesting is his willingness to move beyond familiar territory. From law to investment banking and hospitality finance, his career shows an executive comfortable learning new industries while bringing valuable experience from previous roles.
His emphasis on listening, collaboration, and developing people adds another dimension to his financial expertise. At Summit Hotel Properties, that combination of analytical thinking and people-centered leadership could be just as valuable as his experience managing capital and investments.
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Originally published by FerrConn Hospitality Insider
