XML 21 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Room $ 436,202 $ 380,472 $ 283,279
Other hotel operations revenue 27,253 22,994 15,679
Total revenues 463,455 403,466 298,958
Hotel operating expenses:      
Room 109,844 101,150 80,391
Other direct 64,010 55,388 39,815
Other indirect 121,974 104,959 78,136
Total hotel operating expenses 295,828 261,497 198,342
Depreciation and amortization 64,052 63,763 49,330
Corporate general and administrative 21,204 19,884 12,929
Hotel property acquisition costs 1,246 769 1,886
Loss on impairment of assets 1,115 8,847 1,369
Total expenses 383,445 354,760 263,856
Operating income 80,010 48,706 35,102
Other income (expense):      
Interest expense (30,414) (28,517) (21,991)
Gain on disposal of assets, net 65,067 391 363
Other income (expense) 11,146 595 (1,955)
Total other income (expense) 45,799 (27,531) (23,583)
Income from continuing operations before income taxes 125,809 21,175 11,519
Income tax expense (553) (744) (4,894)
Income from continuing operations 125,256 20,431 6,625
Income (loss) from discontinued operations   492 (728)
Net income 125,256 20,923 5,897
Income (loss) attributable to non-controlling interests:      
Operating partnership 819 51 (297)
Joint venture   1 316
Net income attributable to Summit Hotel Properties, Inc. 124,437 20,871 5,878
Preferred dividends (16,588) (16,588) (14,590)
Net income (loss) attributable to common stockholders $ 107,849 $ 4,283 $ (8,712)
Earnings (loss) per share - Basic:      
Net income (loss) from continuing operations (in dollars per share) $ 1.25 $ 0.04 $ (0.11)
Net income (loss) from discontinued operations (in dollars per share)   0.01 (0.01)
Net income (loss) (in dollars per share) 1.25 0.05 (0.12)
Earnings (loss) per share - Diluted      
Net income (loss) from continuing operations (in dollars per share) 1.24 0.04 (0.11)
Net income (loss) from discontinued operations (in dollars per share)   0.01 (0.01)
Net income (loss) (in dollars per share) $ 1.24 $ 0.05 $ (0.12)
Weighted average common shares outstanding:      
Basic (in shares) 85,920 85,242 70,327
Diluted (in shares) 87,144 85,566 70,327
Dividends per share (in dollars per share) $ 0.47 $ 0.46 $ 0.45