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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 4 Months Ended 3 Months Ended 4 Months Ended 1 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2011
Jun. 30, 2011
SUMMIT HOTEL OP, LP
Jun. 30, 2011
SUMMIT HOTEL OP, LP
Feb. 13, 2011
Predecessor
Jun. 30, 2010
Predecessor
Jun. 30, 2010
Predecessor
REVENUES              
Room revenues $ 37,824,945 $ 56,271,795 $ 37,824,945 $ 56,271,795 $ 14,268,042 $ 35,258,817 $ 65,938,663
Other hotel operations revenues 763,619 1,125,918 763,619 1,125,918 330,251 590,909 1,273,783
Total Revenue 38,588,564 57,397,713 38,588,564 57,397,713 14,598,293 35,849,726 67,212,446
Hotel operating expenses              
Rooms 11,727,100 16,643,700 11,727,100 16,643,700 4,960,450 10,505,996 20,048,040
Other direct 5,031,210 7,152,417 5,031,210 7,152,417 2,657,760 4,158,337 8,286,682
Other indirect 9,179,041 14,113,569 9,179,041 14,113,569 4,686,274 9,244,765 17,681,096
Other 201,047 274,085 201,047 274,085 73,038 152,108 302,361
Total hotel operating expenses 26,138,398 38,183,771 26,138,398 38,183,771 12,377,522 24,061,206 46,318,179
Depreciation and amortization 6,819,608 10,248,823 6,819,608 10,248,823 3,429,216 6,671,258 13,521,822
Corporate general and administrative:              
Salaries and other compensation 699,014 1,066,032 699,014 1,066,032      
Other 774,459 1,549,811 774,459 1,549,811      
Equity based compensation 175,656 302,484 175,656 302,484      
Hotel property acquisition costs           (9,173) 56,519
Total Expenses 34,607,135 51,350,921 34,607,135 51,350,921 15,806,738 30,723,291 59,896,520
INCOME (LOSS) FROM OPERATIONS 3,981,429 6,046,792 3,981,429 6,046,792 (1,208,445) 5,126,435 7,315,926
OTHER INCOME (EXPENSE)              
Interest income 10,280 14,227 10,280 14,227 7,139 11,474 23,559
Interest expense (3,007,640) (6,518,769) (3,007,640) (6,518,769) (4,666,216) (7,133,904) (12,701,101)
Gain (loss) on disposal of assets (36,031) (36,031) (36,031) (36,031)   (1,938) (39,389)
Total Other Income (Expense) (3,033,391) (6,540,573) (3,033,391) (6,540,573) (4,659,077) (7,124,368) (12,716,931)
INCOME (LOSS) FROM CONTINUING OPERATIONS 948,038 (493,781) 948,038 (493,781) (5,867,522) (1,997,933) (5,401,005)
INCOME TAX EXPENSE (344,177) (516,479) (344,177) (516,479) (339,034) (75,702) (228,185)
NET INCOME (LOSS) 603,861 (1,010,260)          
NET INCOME (LOSS) ALLOCATED TO NONCONTROLLING INTEREST 163,042 (272,770)          
NET INCOME (LOSS) $ 440,819 $ (737,490) $ 603,861 $ (1,010,260) $ (6,206,556) $ (2,073,635) $ (5,629,190)
Net income (loss) per share/unit:              
Basic and diluted $ 0.02 $ (0.03) $ 0.02 $ (0.03)      
Weighted-average common shares/units outstanding:              
Basic and diluted 27,278,000 27,278,000 37,378,000 37,378,000