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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenues $ 194,493 $ 183,248 $ 376,876 $ 325,117
Expenses:        
Property taxes, insurance and other 14,215 13,525 28,939 26,663
Depreciation and amortization 37,510 38,058 74,418 74,332
Corporate general and administrative 9,100 8,074 17,099 17,211
Transaction costs 260 681 266 681
Recoveries of credit losses 0 (250) (250) (250)
Total expenses 170,734 160,637 334,915 301,782
(Loss) gain on disposal of assets, net (320) 20,484 (320) 20,484
Operating income 23,439 43,095 41,641 43,819
Other income (expense):        
Interest expense (22,248) (15,118) (43,157) (28,557)
Interest and other income, net 490 1,773 755 3,515
Total other expense, net (21,758) (13,345) (42,402) (25,042)
Income (loss) from continuing operations before income taxes 1,681 29,750 (761) 18,777
Income tax expense (791) (6,437) (319) (4,437)
Net income (loss) 890 23,313 (1,080) 14,340
Loss (income) attributable to non-controlling interests 2,982 (10,748) 4,351 (9,629)
Net income attributable to Summit Hotel Properties, Inc. before preferred dividends and distributions 3,872 12,565 3,271 4,711
Distributions to and accretion of redeemable non-controlling interests (657) (653) (1,314) (1,208)
Preferred dividends (3,968) (3,968) (7,938) (7,938)
Net (loss) income attributable to common stockholders (753) 7,944 (5,981) (4,435)
Net (loss) income attributable to common stockholders $ (753) $ 7,944 $ (5,981) $ (4,435)
(Loss) income per share:        
Basic (in dollars per share) $ (0.01) $ 0.08 $ (0.06) $ (0.04)
Diluted (in dollars per share) $ (0.01) $ 0.07 $ (0.06) $ (0.04)
Weighted-average common shares outstanding:        
Basic (in shares) 105,562 105,199 105,438 105,049
Diluted (in shares) 105,562 121,352 105,438 105,049
Room        
Revenues:        
Revenues $ 174,181 $ 166,804 $ 337,270 $ 295,614
Expenses:        
Cost of goods and services sold 38,788 35,783 74,697 64,193
Food and beverage        
Revenues:        
Revenues 10,269 7,664 20,899 13,326
Expenses:        
Cost of goods and services sold 8,040 6,013 15,995 10,127
Other        
Revenues:        
Revenues 10,043 8,780 18,707 16,177
Expenses:        
Cost of goods and services sold 57,829 53,711 113,954 99,988
Management fees        
Expenses:        
Cost of goods and services sold $ 4,992 $ 5,042 $ 9,797 $ 8,837