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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended7 Months Ended3 Months Ended7 Months Ended1 Months Ended3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2011
Sep. 30, 2011
SUMMIT HOTEL OP, LP
Sep. 30, 2011
SUMMIT HOTEL OP, LP
Feb. 13, 2011
Predecessor
Sep. 30, 2010
Predecessor
Sep. 30, 2010
Predecessor
REVENUES       
Room revenues$ 41,482,931$ 97,754,726$ 41,482,931$ 97,754,726$ 14,268,042$ 36,935,600$ 102,874,263
Other hotel operations revenues846,7741,972,692846,7741,972,692330,251664,8971,938,680
Total Revenue42,329,70599,727,41842,329,70599,727,41814,598,29337,600,497104,812,943
Hotel operating expenses       
Rooms12,289,03828,932,73812,289,03828,932,7384,960,45010,628,99330,677,033
Other direct5,544,42512,696,8425,544,42512,696,8422,657,7604,781,46813,068,150
Other indirect10,766,95724,880,52610,766,95724,880,5264,686,2749,596,48427,277,580
Other243,434517,519243,434517,51973,038157,990460,351
Total hotel operating expenses28,843,85467,027,62528,843,85467,027,62512,377,52225,164,93571,483,114
Depreciation and amortization8,391,91518,640,7388,391,91518,640,7383,429,2166,805,77920,327,601
Corporate general and administrative:       
Salaries and other compensation739,8431,853,875739,8431,853,875   
Other625,6092,127,420625,6092,127,420   
Equity based compensation51,201353,68551,201353,685   
Hotel property acquisition costs181,892181,892181,892181,892 73,836130,355
Total Expenses38,834,31490,185,23538,834,31490,185,23515,806,73832,044,55091,941,070
INCOME (LOSS) FROM OPERATIONS3,495,3919,542,1833,495,3919,542,183(1,208,445)5,555,94712,871,873
OTHER INCOME (EXPENSE)       
Interest income55314,78055314,7807,13912,05535,614
Interest expense(3,456,335)(9,975,104)(3,456,335)(9,975,104)(4,666,216)(6,818,469)(19,519,570)
Gain (loss) on disposal of assets (36,031) (36,031) (334)(39,723)
Total Other Income (Expense)(3,455,782)(9,996,355)(3,455,782)(9,996,355)(4,659,077)(6,806,748)(19,523,679)
INCOME (LOSS) FROM CONTINUING OPERATIONS39,609(454,172)39,609(454,172)(5,867,522)(1,250,801)(6,651,806)
INCOME TAX (EXPENSE) BENEFIT1,813(514,666)1,813(514,666)(339,034)(45,000)(273,185)
NET INCOME (LOSS)41,422(968,838)    (6,924,991)
NET INCOME (LOSS) ALLOCATED TO NONCONTROLLING INTEREST11,184(261,586)     
NET INCOME (LOSS)$ 30,238$ (707,252)$ 41,422$ (968,838)$ (6,206,556)$ (1,295,801)$ (6,924,991)
Net income (loss) per share/unit:       
Basic and diluted$ 0.00$ (0.03)$ 0.00$ (0.03)   
Weighted-average common shares/units outstanding:       
Basic and diluted27,278,00027,278,00037,378,00037,378,000