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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Revenues $ 178,252 $ 110,686 $ 503,369 $ 255,064
Expenses:        
Property taxes, insurance and other 13,373 10,679 40,036 32,573
Depreciation and amortization 38,130 25,893 112,462 79,776
Corporate general and administrative 6,532 6,099 23,743 18,283
Hotel acquisition and transaction costs 56 0 737 3,849
Recoveries of credit losses (850) (2,632) (1,100) (2,632)
Loss on impairment of assets 0 4,361 0 4,361
Total expenses 161,017 105,663 462,799 286,959
(Loss) gain on disposal of assets, net (5) 0 20,479 81
Operating income (loss) 17,230 5,023 61,049 (31,814)
Other income (expense):        
Interest expense (17,645) (10,817) (46,202) (32,567)
Other (expense) income, net (416) 2,250 3,099 7,777
Total other expense, net (18,061) (8,567) (43,103) (24,790)
(Loss) income from continuing operations before income taxes (831) (3,544) 17,946 (56,604)
Income tax expense (Note 13) (210) (695) (4,647) (1,075)
Net (loss) income (1,041) (4,239) 13,299 (57,679)
Less - Loss (income) attributable to non-controlling interests 5,148 (265) (4,481) 3,118
Net income (loss) attributable to Summit Hotel Properties, Inc. before preferred dividends and distributions 4,107 (4,504) 8,818 (54,561)
Less - Distributions and accretion of redeemable non-controlling interests (656) 0 (1,866) 0
Less - Preferred dividends (3,968) (3,750) (11,906) (11,168)
Premium on redemption of preferred stock 0 (2,710) 0 (2,710)
Net loss attributable to common stockholders $ (517) $ (10,964) $ (4,954) $ (68,439)
Loss per share:        
Basic (in dollars per share) $ 0 $ (0.10) $ (0.05) $ (0.66)
Diluted (in dollars per share) $ 0 $ (0.10) $ (0.05) $ (0.66)
Weighted average common shares outstanding:        
Basic (in shares) 105,232 104,548 105,110 104,441
Diluted (in shares) 105,232 104,548 105,110 104,441
Room        
Revenues:        
Revenues $ 160,133 $ 102,521 $ 455,747 $ 235,761
Expenses:        
Cost of goods and services sold 37,525 22,186 101,718 52,320
Food and beverage        
Revenues:        
Revenues 8,854 2,097 22,180 4,656
Expenses:        
Cost of goods and services sold 7,060 1,476 17,187 3,000
Other        
Revenues:        
Revenues 9,265 6,068 25,442 14,647
Expenses:        
Cost of goods and services sold 54,883 34,713 154,871 88,672
Management fees        
Expenses:        
Cost of goods and services sold $ 4,308 $ 2,888 $ 13,145 $ 6,757