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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Revenues $ 183,248 $ 86,524 $ 325,117 $ 144,378
Expenses:        
Property taxes, insurance and other 13,525 10,990 26,663 21,894
Depreciation and amortization 38,058 26,586 74,332 53,883
Corporate general and administrative 8,074 6,506 17,211 12,184
Hotel acquisition and transaction costs 681 3,849 681 3,849
Recoveries of credit losses (250) 0 (250) 0
Total expenses 160,637 98,182 301,782 181,296
Gain on disposal of assets, net 20,484 31 20,484 81
Operating income (loss) 43,095 (11,627) 43,819 (36,837)
Other income (expense):        
Interest expense (15,118) (10,962) (28,557) (21,750)
Other income, net 1,773 2,295 3,515 5,527
Total other income (expense) (13,345) (8,667) (25,042) (16,223)
Income (loss) from continuing operations before income taxes 29,750 (20,294) 18,777 (53,060)
Income tax expense (6,437) (275) (4,437) (380)
Net income (loss) before amounts attributable to non-controlling interests 23,313 (20,569) 14,340 (53,440)
Less - (Income) loss attributable to non-controlling interests (11,401) 1,877 (10,837) 3,383
Net income (loss) attributable to Summit Hotel Properties, Inc. before preferred dividends 11,912 (18,692) 3,503 (50,057)
Less - Preferred dividends (3,968) (3,709) (7,938) (7,418)
Net income (loss) attributable to common stockholders $ 7,944 $ (22,401) $ (4,435) $ (57,475)
Income (loss) per share:        
Basic (in dollars per share) $ 0.08 $ (0.21) $ (0.04) $ (0.55)
Diluted (in dollars per share) $ 0.07 $ (0.21) $ (0.04) $ (0.55)
Weighted average common shares outstanding:        
Basic (in shares) 105,199 104,495 105,049 104,387
Diluted (in shares) 121,352 104,495 105,049 104,387
Room        
Revenues:        
Revenues $ 166,804 $ 79,995 $ 295,614 $ 133,240
Expenses:        
Cost of goods and services sold 35,783 17,584 64,193 30,134
Food and beverage        
Revenues:        
Revenues 7,664 1,556 13,326 2,559
Expenses:        
Cost of goods and services sold 6,013 968 10,127 1,524
Other        
Revenues:        
Revenues 8,780 4,973 16,177 8,579
Expenses:        
Cost of goods and services sold 53,711 29,385 99,988 53,959
Management fees        
Expenses:        
Cost of goods and services sold $ 5,042 $ 2,314 $ 8,837 $ 3,869