DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2013

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

NOTE 21 - DISCONTINUED OPERATIONS

We have adjusted our consolidated statements of operations for 2013, 2012 and 2011 to reflect the operations of hotel properties that have been sold or are classified as held for sale in discontinued operations. Discontinued operations include the following hotel properties that have been sold:

· Hampton Inn, Holiday Inn Express and AmericInn in Twin Falls, ID — sold May 2012;

· AmericInn Hotel & Suites in Missoula, MT — sold August 2012;

· Courtyard by Marriott in Missoula, MT — sold December 2012;

· AmericInn Hotel & Suites in Golden, CO — sold January 2013;

· Hampton Inn in Denver, CO — sold February 2013;

· Holiday Inn and Holiday Inn Express in Boise, ID — sold May 2013;

· Courtyard by Marriott in Memphis, TN — sold May 2013;

· SpringHill Suites in Lithia Springs, GA — sold August 2013;

· Fairfield Inn in Lewisville, TX — sold August 2013;

· Fairfield Inn in Lakewood, CO — sold September 2013;

· Fairfield Inn in Emporia, KS — sold October 2013;

· SpringHill Suites in Little Rock, AR — sold November 2013;

· Fairfield Inn and AmericInn Hotel & Suites in Salina, KS — sold November 2013;

· Hampton Inn and Fairfield in Boise, ID — sold November 2013; and

· Holiday Inn Express in Emporia, KS — sold December 2013.

In addition, discontinued operations also include the following hotel properties that were classified as held for sale at December 31, 2013:

· AmericInn Hotel & Suites and Aspen Hotel & Suites in Fort Smith, AR (sold on January 17, 2014); and

· Hampton Inn in Fort Smith, AR (under contract to sell).

Condensed results for the hotel properties included in discontinued operations follows (in thousands):

										Summit Hotel
	Summit Hotel Properties, Inc.									Properties, LLC
	2013			2012			Period 2/14/11 through 12/31/11			Period 1/1/11 through 2/13/11
REVENUE	$	19,458		$	33,193		$	30,265		$	3,755
Hotel operating expenses	14,859			24,701			22,762			3,070
Depreciation and amortization	1,960			4,226			4,732			778
Loss on impairment of assets	7,675			2,305			—			—
Income (loss) from hotel operations	(5,036		)	1,961			2,771			(93		)
Interest expense	174			855			3,182			1,226
(Gain) loss on disposal of assets	(3,945		)	(3,010		)	—			—
Income (loss) before taxes	(1,265		)	4,116			(411		)	(1,319		)
Income tax (expense) benefit	537			561			66			211
Income (loss) from discontinued operations	$	(728	)	$	4,677		$	(345	)	$	(1,108	)
Income (loss) from discontinued operations attributable to noncontrolling interests	$	(25	)	$	807		$	(93	)
Income (loss) from discontinued operations attributable to common shareholders / members	$	(703	)	$	3,870		$	(252	)