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DISCONTINUED OPERATIONS (Tables)
6 Months Ended
Jun. 30, 2012
Schedule of Discontinued Operations, Income Statement
Condensed results of operations for these hotel properties included in discontinued operations are as follows:
 
   
Summit Hotel Properties, Inc.
   
Summit Hotel Properties, Inc.
   
Summit Hotel Properties, LLC (Predecessor)
 
   
Three months ended 06/30/12
   
Three months ended 06/30/11
   
Six months ended 06/30/12
   
Period 02/14/11 to 6/30/11
   
Period 01/1/11 to 02/13/11
 
                               
REVENUE
  $ 840,321     $ 1,591,680     $ 1,911,970     $ 2,263,235     $ 506,058  
                                         
EXPENSES
                                       
  Rooms
    279,673       474,500       673,189       718,089       177,369  
  Other direct
    96,987       174,334       234,464       218,292       123,856  
  Other indirect
    242,661       329,112       570,395       503,300       164,368  
  Corporate general and administrative
    17,783       22,710       42,003       36,329       -  
  Loss on impairment of assets
    1,166,000       -       2,098,000       -       -  
  Depreciation and amortization
    33,410       273,452       325,262       421,125       140,285  
      1,836,514       1,274,108       3,943,313       1,897,135       605,878  
                                         
INCOME (LOSS) FROM OPERATIONS
    (996,193 )     317,572       (2,031,343 )     366,100       (99,820 )
                                         
OTHER INCOME (EXPENSE)
                                 
  Interest expense
    (33,708 )     (83,788 )     (130,736 )     (102,711 )     (188,585 )
                                         
INCOME (LOSS) BEFORE TAXES
    (1,029,901 )     233,784       (2,162,079 )     263,389       (288,405 )
                                         
INCOME TAX (EXPENSE) BENEFIT
    2,561       (14,196 )     17,797       (18,824 )     (13,795 )
                                         
INCOME (LOSS) FROM
                                       
    DISCONTINUED OPERATIONS
  $ (1,027,340 )   $ 219,588     $ (2,144,282 )   $ 244,565     $ (302,200 )
                                         
NET INCOME (LOSS) FROM DISCONTINUED
                 
OPERATIONS ATTRIBUTABLE TO
                         
    NONCONTROLLING INTEREST
  $ (186,683 )   $ 59,335     $ (485,680 )   $ 66,085     $ (81,658 )
NET INCOME (LOSS) FROM DISCONTINUED
                 
OPERATIONS ATTRIBUTABLE TO
                         
    COMMON STOCKHOLDERS/MEMBERS
  $ (840,657 )   $ 160,253     $ (1,658,602 )   $ 178,480     $ (220,542 )