XML 58 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (16,259)us-gaap_ProfitLoss $ (1,353)us-gaap_ProfitLoss $ (10,220)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 6,549us-gaap_DepreciationDepletionAndAmortization 7,294us-gaap_DepreciationDepletionAndAmortization 8,788us-gaap_DepreciationDepletionAndAmortization
Amortization of deferred financing costs 1,450us-gaap_AmortizationOfFinancingCosts 1,124us-gaap_AmortizationOfFinancingCosts 628us-gaap_AmortizationOfFinancingCosts
Amortization of debt discount 38us-gaap_AmortizationOfDebtDiscountPremium 0us-gaap_AmortizationOfDebtDiscountPremium 0us-gaap_AmortizationOfDebtDiscountPremium
Gains on dispositions of assets (2,750)us-gaap_GainLossOnSaleOfProperties (1,806)us-gaap_GainLossOnSaleOfProperties (7,833)us-gaap_GainLossOnSaleOfProperties
Stock-based compensation expense 34us-gaap_ShareBasedCompensation 47us-gaap_ShareBasedCompensation 44us-gaap_ShareBasedCompensation
Provision for impairment loss 2,921us-gaap_AssetImpairmentCharges 7,086us-gaap_AssetImpairmentCharges 10,172us-gaap_AssetImpairmentCharges
Unrealized (gain) loss on derivative instruments 14,430us-gaap_UnrealizedGainLossOnDerivatives (10,028)us-gaap_UnrealizedGainLossOnDerivatives 247us-gaap_UnrealizedGainLossOnDerivatives
Gain On Debt Conversion (88)sppr_GainOnDebtConversion 0sppr_GainOnDebtConversion 0sppr_GainOnDebtConversion
Amortization of warrant issuance cost 58sppr_AmortizationOfWarrantIssuanceCost 58sppr_AmortizationOfWarrantIssuanceCost 53sppr_AmortizationOfWarrantIssuanceCost
Deferred income taxes 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 5,610us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Changes in operating assets and liabilities:      
(Increase) decrease in assets (63)us-gaap_IncreaseDecreaseInOperatingAssets 593us-gaap_IncreaseDecreaseInOperatingAssets 1,192us-gaap_IncreaseDecreaseInOperatingAssets
Decrease in liabilities (933)us-gaap_IncreaseDecreaseInOperatingLiabilities (998)us-gaap_IncreaseDecreaseInOperatingLiabilities (2,098)us-gaap_IncreaseDecreaseInOperatingLiabilities
Net cash provided by operating activities 5,387us-gaap_NetCashProvidedByUsedInOperatingActivities 2,017us-gaap_NetCashProvidedByUsedInOperatingActivities 6,583us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to hotel properties (3,374)us-gaap_PaymentsForCapitalImprovements (5,133)us-gaap_PaymentsForCapitalImprovements (8,462)us-gaap_PaymentsForCapitalImprovements
Acquisition and development of hotel properties 0us-gaap_PaymentsToAcquireBuildings 0us-gaap_PaymentsToAcquireBuildings (11,500)us-gaap_PaymentsToAcquireBuildings
Proceeds from sale of hotel assets 21,316us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 20,746us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 24,185us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Net cash provided by investing activities 17,942us-gaap_NetCashProvidedByUsedInInvestingActivities 15,613us-gaap_NetCashProvidedByUsedInInvestingActivities 4,223us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:      
Deferred financing costs (485)us-gaap_PaymentsOfFinancingCosts (1,081)us-gaap_PaymentsOfFinancingCosts (2,422)us-gaap_PaymentsOfFinancingCosts
Principal payments on long-term debt (22,207)us-gaap_RepaymentsOfLongTermDebt (34,033)us-gaap_RepaymentsOfLongTermDebt (61,204)us-gaap_RepaymentsOfLongTermDebt
Proceeds from long-term debt, net 0us-gaap_ProceedsFromBankDebt 10,671us-gaap_ProceedsFromBankDebt 39,172us-gaap_ProceedsFromBankDebt
Payments on revolving debt (30,843)us-gaap_RepaymentsOfLongTermLinesOfCredit (38,478)us-gaap_RepaymentsOfLongTermLinesOfCredit (31,897)us-gaap_RepaymentsOfLongTermLinesOfCredit
Proceeds from revolving debt 29,692us-gaap_ProceedsFromLinesOfCredit 47,064us-gaap_ProceedsFromLinesOfCredit 20,905us-gaap_ProceedsFromLinesOfCredit
Redemption of operating partnership units 0sppr_RedemptionOfOperatingPartnershipUnits 0sppr_RedemptionOfOperatingPartnershipUnits (114)sppr_RedemptionOfOperatingPartnershipUnits
Distributions to noncontrolling interest 0us-gaap_PaymentsOfDividendsMinorityInterest 0us-gaap_PaymentsOfDividendsMinorityInterest (10)us-gaap_PaymentsOfDividendsMinorityInterest
Preferred stock offering 0us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock 0us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock 28,806us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
Proceeds from common stock issued in rights offering 860us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock 0us-gaap_ProceedsFromIssuanceOfCommonStock
Rights offering issuance costs 218us-gaap_PaymentsOfStockIssuanceCosts 0us-gaap_PaymentsOfStockIssuanceCosts 0us-gaap_PaymentsOfStockIssuanceCosts
Dividends paid to preferred shareholders 0us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (2,619)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (3,430)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Net cash used in financing activities (23,201)us-gaap_NetCashProvidedByUsedInFinancingActivities (18,476)us-gaap_NetCashProvidedByUsedInFinancingActivities (10,194)us-gaap_NetCashProvidedByUsedInFinancingActivities
Increase (decrease) in cash and cash equivalents 128us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (846)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 612us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 45us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 891us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 279us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
CASH AND CASH EQUIVALENTS, END OF YEAR 173us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 45us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 891us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
SUPPLEMENTAL CASH FLOW INFORMATION      
Interest paid, net of amounts capitalized 7,119us-gaap_InterestPaidNet 8,496us-gaap_InterestPaidNet 9,640us-gaap_InterestPaidNet
SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES      
Dividends Declared Preferred 0sppr_DividendsDeclaredPreferred 3,349sppr_DividendsDeclaredPreferred 3,169sppr_DividendsDeclaredPreferred
Unamortized debt discount 113us-gaap_DebtInstrumentUnamortizedDiscount 0us-gaap_DebtInstrumentUnamortizedDiscount 0us-gaap_DebtInstrumentUnamortizedDiscount
Convertible loan embedded derivative (151)us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability 0us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability 0us-gaap_EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
Debt converted to common stock (2,000)us-gaap_ConvertibleDebt 0us-gaap_ConvertibleDebt 0us-gaap_ConvertibleDebt
Common stock issued on conversion of debt $ 1,950sppr_FairValueOfSharesIssued $ 0sppr_FairValueOfSharesIssued $ 0sppr_FairValueOfSharesIssued