XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Total revenues $ 188,142 $ 182,383
Expenses:    
Property taxes, insurance and other 14,285 14,724
Depreciation and amortization 36,799 36,908
Corporate general and administrative 8,311 8,005
Recoveries of credit losses 0 (250)
Total expenses 164,728 164,181
Gain on disposal of assets, net 75 0
Operating income 23,489 18,202
Other income (expense):    
Interest expense (21,582) (20,909)
Interest income 458 306
Other income (loss), net 685 (41)
Total other expense, net (20,439) (20,644)
Income (loss) from continuing operations before income taxes 3,050 (2,442)
Income tax (expense) benefit (Note 13) (217) 472
Net income (loss) 2,833 (1,970)
Less - (Income) loss attributable to non-controlling interests (322) 1,369
Net income (loss) attributable to Summit Hotel Properties, Inc. before preferred dividends and distributions 2,511 (601)
Less - Distributions to and accretion of redeemable non-controlling interests (657) (657)
Less - Preferred dividends (3,970) (3,970)
Net loss attributable to common stockholders, basic (2,116) (5,228)
Net loss attributable to common stockholders, diluted $ (2,116) $ (5,228)
Loss per share:    
Basic (in dollars per share) $ (0.02) $ (0.05)
Diluted (in dollars per share) $ (0.02) $ (0.05)
Weighted-average common shares outstanding:    
Basic (in shares) 105,720 105,312
Diluted (in shares) 105,720 105,312
Room    
Revenues:    
Total revenues $ 167,431 $ 163,089
Expenses:    
Cost of goods and services sold 35,973 35,909
Food and beverage    
Revenues:    
Total revenues 10,833 10,630
Expenses:    
Cost of goods and services sold 8,202 7,955
Other    
Revenues:    
Total revenues 9,878 8,664
Expenses:    
Cost of goods and services sold 56,261 56,125
Management fees    
Expenses:    
Cost of goods and services sold $ 4,897 $ 4,805