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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenues $ 731,783 $ 736,127 $ 675,695
Expenses:      
Property taxes, insurance and other 54,116 55,167 49,921
Management fees 15,866 18,452 17,442
Depreciation and amortization 146,436 150,924 150,160
Corporate general and administrative 31,891 32,530 30,765
Transaction costs 10 13 749
Loss on impairment and write-down of assets 6,723 16,661 10,420
Recovery of credit losses 0 (1,230) (1,100)
Total expenses 657,205 677,003 628,228
Gain (loss) on disposal of assets, net 28,912 (337) 20,315
Operating income 103,490 58,787 67,782
Other income (expense):      
Interest expense (82,632) (86,798) (65,581)
Interest income 1,906 1,688 1,544
Gain on extinguishment of debt 3,000 0 0
Other income, net 4,384 1,005 1,083
Total other expense, net (73,342) (84,105) (62,954)
Income (loss) from continuing operations before income taxes 30,148 (25,318) 4,828
Income tax benefit (expense) (Note 15) 8,743 (2,798) (3,611)
Net income (loss) 38,891 (28,116) 1,217
Less - Loss attributable to non-controlling interests (4,751) (18,627) (249)
Net income (loss) attributable to Summit Hotel Properties, Inc. before preferred dividends and distributions 43,642 (9,489) 1,466
Less - Distributions to and accretion of redeemable non-controlling interests (2,626) (2,626) (2,520)
Less - Preferred dividends (15,875) (15,875) (15,875)
Net income (loss) attributable to common stockholders $ 25,141 $ (27,990) $ (16,929)
Income (loss) per common share:      
Basic (in usd per shares) $ 0.23 $ (0.27) $ (0.16)
Diluted (in usd per shares) $ 0.22 $ (0.27) $ (0.16)
Weighted average common shares outstanding:      
Weighted average common shares outstanding - basic (in shares) 105,927 105,548 105,142
Weighted average common shares outstanding - diluted (in shares) 132,365 105,548 105,142
Dividends per common share (in dollars per share) $ 0.30 $ 0.22 $ 0.08
Room      
Revenues:      
Total revenues $ 650,713 $ 656,063 $ 609,370
Expenses:      
Cost of goods and services sold 146,790 148,005 136,999
Food and beverage      
Revenues:      
Total revenues 40,865 41,513 32,117
Expenses:      
Cost of goods and services sold 30,964 31,580 24,897
Other      
Revenues:      
Total revenues 40,205 38,551 34,208
Expenses:      
Cost of goods and services sold $ 224,409 $ 224,901 $ 207,975