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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 192,917 $ 193,903 $ 377,395 $ 382,045
Expenses:        
Property taxes, insurance and other 13,706 13,287 27,017 27,572
Management fees 4,411 4,434 8,906 9,331
Depreciation and amortization 37,259 36,458 74,489 73,257
Corporate general and administrative 8,280 8,704 16,851 17,015
Total expenses 170,153 166,036 334,805 330,764
(Loss) gain on disposal of assets, net (80) 28,342 (79) 28,417
Operating income 22,684 56,209 42,511 79,698
Other income (expense):        
Interest expense (20,628) (20,830) (40,584) (42,412)
Interest income 301 565 577 1,023
Gain on extinguishment of debt 0 3,000 0 3,000
Other income, net 858 2,129 2,088 2,814
Total other expense, net (19,469) (15,136) (37,919) (35,575)
Income from continuing operations before income taxes 3,215 41,073 4,592 44,123
Income tax expense (Note 13) (1,178) (2,375) (1,932) (2,592)
Net income 2,037 38,698 2,660 41,531
Less - (Loss) income attributable to non-controlling interests (976) 3,224 (296) 3,546
Net income attributable to Summit Hotel Properties, Inc. before preferred dividends 3,013 35,474 2,956 37,985
Less - Distributions to and accretion of redeemable non-controlling interests (657) (657) (1,314) (1,314)
Less - Preferred dividends (3,968) (3,968) (7,938) (7,938)
Net (loss) income attributable to common stockholders $ (1,612) $ 30,849 $ (6,296) $ 28,733
(Loss) income per common share:        
Basic (in dollars per share) $ (0.02) $ 0.29 $ (0.06) $ 0.27
Diluted (in dollars per share) $ (0.02) $ 0.23 $ (0.06) $ 0.21
Weighted-average common shares outstanding:        
Basic (in shares) 107,633 105,918 107,820 105,819
Diluted (in shares) 107,633 149,451 107,820 149,112
Room        
Revenues:        
Total revenues $ 170,599 $ 173,025 $ 334,330 $ 340,456
Expenses:        
Cost of goods and services sold 39,166 38,044 75,298 74,017
Food and beverage        
Revenues:        
Total revenues 11,195 10,069 22,185 20,902
Expenses:        
Cost of goods and services sold 8,388 7,639 16,379 15,841
Other        
Revenues:        
Total revenues 11,123 10,809 20,880 20,687
Expenses:        
Cost of goods and services sold $ 58,943 $ 57,470 $ 115,865 $ 113,731