XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Room $ 103,155 $ 78,010 $ 287,387 $ 209,774
Other hotel operations revenue 6,101 4,164 16,938 11,228
Total revenues 109,256 82,174 304,325 221,002
Hotel operating expenses:        
Room 26,365 21,927 76,042 59,181
Other direct 15,376 11,072 40,610 28,335
Other indirect 26,451 20,784 78,068 56,714
Total hotel operating expenses 68,192 53,783 194,720 144,230
Depreciation and amortization 16,831 13,872 48,906 37,250
Corporate general and administrative 5,742 2,954 15,364 10,054
Hotel property acquisition costs 69 114 778 1,554
Loss on impairment of assets 3,614 1,369 4,274 1,369
Total expenses 94,448 72,092 264,042 194,457
Operating income 14,808 10,082 40,283 26,545
Other income (expense):        
Interest expense (6,839) (5,948) (20,045) (14,877)
Other income (expense) 797 (184) 1,083 82
Total other expense, net (6,042) (6,132) (18,962) (14,795)
Income from continuing operations before income taxes 8,766 3,950 21,321 11,750
Income tax expense (427) (1,120) (834) (1,269)
Income from continuing operations 8,339 2,830 20,487 10,481
Income (loss) from discontinued operations (59) (3,410) 278 (2,508)
Net income (loss) 8,280 (580) 20,765 7,973
Income (loss) attributable to non-controlling interests:        
Operating partnership 50 (213) 101 (108)
Joint venture   272 1 324
Net income attributable to Summit Hotel Properties, Inc. 8,230 (639) 20,663 7,757
Preferred dividends (4,147) (4,147) (12,441) (10,443)
Net income (loss) attributable to common stockholders $ 4,083 $ (4,786) $ 8,222 $ (2,686)
Earnings per share:        
Basic and diluted net income (loss) per share from continuing operations (in dollars per share) $ 0.05 $ (0.02) $ 0.09 $ (0.01)
Basic and diluted net income (loss) per share from discontinued operations (in dollars per share)   $ (0.05) $ 0.01 $ (0.03)
Basic and diluted net income (loss) per share (in dollars per share) $ 0.05 $ (0.07) $ 0.10 $ (0.04)
Weighted average common shares outstanding:        
Basic (in Shares) 85,303 68,157 85,192 65,460
Diluted (in Shares) 85,916 68,614 85,704 65,854