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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Room $ 120,514 $ 119,285 $ 230,864 $ 229,880
Other hotel operations revenue 8,542 7,910 16,181 15,397
Total revenues 129,056 127,195 247,045 245,277
Hotel operating expenses:        
Room 29,303 26,985 57,817 54,254
Other direct 16,619 16,843 32,409 33,083
Other indirect 33,577 32,929 64,477 63,558
Total hotel operating expenses 79,499 76,757 154,703 150,895
Depreciation and amortization 19,732 17,685 38,458 35,828
Corporate general and administrative 5,310 5,391 10,448 9,970
Hotel property acquisition costs 0 1,728 354 2,282
Total expenses 104,541 101,561 203,963 198,975
Operating income 24,515 25,634 43,082 46,302
Other income (expense):        
Interest expense (6,927) (7,123) (13,718) (14,606)
Gain on disposal of assets, net 16,350 2,726 35,806 39,506
Other income, net 568 853 2,963 1,193
Total other income (expense) 9,991 (3,544) 25,051 26,093
Income from continuing operations before income taxes 34,506 22,090 68,133 72,395
Income tax expense (423) (135) (844) (1,706)
Net income 34,083 21,955 67,289 70,689
Less - Income attributable to non-controlling interests in operating partnership (114) (90) (234) (339)
Net income attributable to Summit Hotel Properties, Inc. 33,969 21,865 67,055 70,350
Preferred dividends (4,200) (4,147) (8,400) (8,294)
Net income attributable to common stockholders $ 29,769 $ 17,718 $ 58,655 $ 62,056
Earnings per share:        
Basic (in dollars per share) $ 0.30 $ 0.20 $ 0.61 $ 0.72
Diluted (in dollars per share) $ 0.30 $ 0.20 $ 0.61 $ 0.71
Weighted average common shares outstanding:        
Basic (in Shares) 98,184 86,433 95,488 86,396
Diluted (in Shares) 98,706 87,355 95,983 87,264