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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Room $ 110,777 $ 118,292 $ 340,657 $ 333,431
Other hotel operations revenue 7,559 6,799 22,956 19,985
Total revenues 118,336 125,091 363,613 353,416
Hotel operating expenses:        
Room 28,705 29,428 82,959 82,663
Other direct 15,513 17,073 48,596 47,968
Other indirect 29,312 31,893 92,870 92,308
Total hotel operating expenses 73,530 78,394 224,425 222,939
Depreciation and amortization 17,887 15,916 53,715 46,583
Corporate general and administrative 4,388 6,897 14,358 16,775
Hotel property acquisition costs 527 837 2,809 950
Loss on impairment of assets 577 1,115 577 1,115
Total expenses 96,909 103,159 295,884 288,362
Operating income 21,427 21,932 67,729 65,054
Other income (expense):        
Interest expense (6,626) (8,083) (21,232) (22,985)
Gain (loss) on disposal of assets, net 10,491 (1) 49,997 (712)
Other income (expense), net 661 (58) 1,854 727
Total other income (expense) 4,526 (8,142) 30,619 (22,970)
Income from continuing operations before income taxes 25,953 13,790 98,348 42,084
Income tax benefit (expense) 1,245 (184) (461) (1,586)
Net income 27,198 13,606 97,887 40,498
Less - Income attributable to Operating Partnership (115) (66) (454) (220)
Net income attributable to Summit Hotel Properties, Inc. 27,083 13,540 97,433 40,278
Preferred dividends (4,993) (4,147) (13,287) (12,441)
Net income attributable to common stockholders $ 22,090 $ 9,393 $ 84,146 $ 27,837
Earnings per share:        
Basic (in dollars per share) $ 0.25 $ 0.11 $ 0.97 $ 0.32
Diluted (in dollars per share) $ 0.25 $ 0.11 $ 0.96 $ 0.32
Weighted average common shares outstanding:        
Basic (in Shares) 86,492 85,995 86,428 85,844
Diluted (in Shares) 87,401 87,065 87,319 87,000