$INN
Summit Hotel Properties, Inc.

2012 Q4 Form 10-Q Financial Statement

#000115752312005863 Filed on November 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $45.11M $43.07M $33.57M
YoY Change 34.38% 7.58% 8.99%
Cost Of Revenue $32.50M $28.44M $27.40M
YoY Change 18.61% 2.45% 12.3%
Gross Profit $12.60M $14.63M $7.200M
YoY Change 75.0% 19.2% 12.5%
Gross Profit Margin 27.93% 33.97% 21.45%
Selling, General & Admin $2.500M $1.600M $1.000M
YoY Change 150.0% 100.0%
% of Gross Profit 19.84% 10.94% 13.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.800M $8.500M $7.700M
YoY Change 27.27% 1.19% 10.0%
% of Gross Profit 77.78% 58.1% 106.94%
Operating Expenses $11.90M $10.20M $9.900M
YoY Change 20.2% 7.37% 41.43%
Operating Profit $700.0K $4.271M -$2.700M
YoY Change -125.93% 43.78% 350.0%
Interest Expense -$3.700M $3.938M -$3.200M
YoY Change 15.63% 17.99% -52.94%
% of Operating Profit -528.57% 92.2%
Other Income/Expense, Net $200.0K -$4.138M
YoY Change 24.01%
Pretax Income -$4.900M $133.0K -$6.000M
YoY Change -18.33% -136.3% -57.45%
Income Tax -$500.0K $21.00K -$2.800M
% Of Pretax Income 15.79%
Net Earnings -$821.0K $1.562M -$2.200M
YoY Change -62.68% 5065.69% -84.29%
Net Earnings / Revenue -1.82% 3.63% -6.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$17.51K $51.12K -$80.59K
COMMON SHARES
Basic Shares Outstanding 46.16M shares 31.31M shares
Diluted Shares Outstanding 31.50M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.00M $10.30M $10.50M
YoY Change 33.33% -39.77% 31.25%
Cash & Equivalents $13.98M $10.29M $10.54M
Short-Term Investments
Other Short-Term Assets $5.300M $4.400M $4.300M
YoY Change 23.26% 100.0% 152.94%
Inventory
Prepaid Expenses
Receivables $5.500M $6.700M $3.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $24.80M $21.40M $18.20M
YoY Change 36.26% -13.71% 7.06%
LONG-TERM ASSETS
Property, Plant & Equipment $734.4M $572.5M $498.9M
YoY Change 47.21% 15.92% 11.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.30M $0.00
YoY Change
Other Assets $21.40M $16.00M $12.60M
YoY Change 69.84% 50.94% 110.0%
Total Long-Term Assets $786.0M $611.7M $535.8M
YoY Change 46.69% 15.77% 12.56%
TOTAL ASSETS
Total Short-Term Assets $24.80M $21.40M $18.20M
Total Long-Term Assets $786.0M $611.7M $535.8M
Total Assets $810.8M $633.1M $554.0M
YoY Change 46.35% 14.44% 12.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $1.300M $1.700M
YoY Change 194.12% 44.44% 6.25%
Accrued Expenses $19.00M $17.70M $15.80M
YoY Change 20.25% 14.94% 42.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.00M $19.00M $17.50M
YoY Change 37.14% 16.56% 37.8%
LONG-TERM LIABILITIES
Long-Term Debt $312.6M $312.3M $217.1M
YoY Change 43.99% 21.23% -48.36%
Other Long-Term Liabilities $600.0K $500.0K $0.00
YoY Change
Total Long-Term Liabilities $313.2M $312.8M $217.1M
YoY Change 44.27% 21.43% -48.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.00M $19.00M $17.50M
Total Long-Term Liabilities $313.2M $312.8M $217.1M
Total Liabilities $337.3M $331.8M $234.6M
YoY Change 43.78% 4.55% -45.64%
SHAREHOLDERS EQUITY
Retained Earnings -$31.99M -$24.81M -$11.02M
YoY Change 190.25%
Common Stock $462.0K $315.0K $273.0K
YoY Change 69.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $436.8M $260.3M $278.2M
YoY Change
Total Liabilities & Shareholders Equity $810.8M $633.1M $554.0M
YoY Change 46.35% 14.44% 12.37%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income -$821.0K $1.562M -$2.200M
YoY Change -62.68% 5065.69% -84.29%
Depreciation, Depletion And Amortization $9.800M $8.500M $7.700M
YoY Change 27.27% 1.19% 10.0%
Cash From Operating Activities $10.10M $11.50M $4.200M
YoY Change 140.48% 33.72% -800.0%
INVESTING ACTIVITIES
Capital Expenditures -$133.2M -$21.70M $21.30M
YoY Change -725.35% -3.56% 2562.5%
Acquisitions
YoY Change
Other Investing Activities -$31.80M $1.000M -$34.50M
YoY Change -7.83% 1816.67%
Cash From Investing Activities -$164.9M -$20.90M -$13.30M
YoY Change 1139.85% -6.7% 1230.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 158.5M 8.000M 2.400M
YoY Change 6504.17% 471.43% -233.33%
NET CHANGE
Cash From Operating Activities 10.10M 11.50M 4.200M
Cash From Investing Activities -164.9M -20.90M -13.30M
Cash From Financing Activities 158.5M 8.000M 2.400M
Net Change In Cash 3.700M -1.400M -6.700M
YoY Change -155.22% -88.71% 97.06%
FREE CASH FLOW
Cash From Operating Activities $10.10M $11.50M $4.200M
Capital Expenditures -$133.2M -$21.70M $21.30M
Free Cash Flow $143.3M $33.20M -$17.10M
YoY Change -938.01% 6.75% 1121.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46159652 shares
CY2012Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
30756089 shares
CY2012Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
522564
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-430921
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2012Q3 us-gaap Other Assets
OtherAssets
4257462
CY2012Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
522564
CY2012Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
893000 shares
CY2012Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2708849
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Property Plant And Equipment
BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment
4425000
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Land
BusinessAcquisitionPurchasePriceAllocationLand
9843000
CY2012Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
6666212
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4275143
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
301354382
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Other Assets
BusinessAcquisitionPurchasePriceAllocationOtherAssets
338000
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-24813858
CY2012Q3 us-gaap Assets
Assets
633104392
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.75
CY2012Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2012Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
633104392
CY2012Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
31501219 shares
CY2012Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
228000
CY2012Q3 us-gaap Minority Interest
MinorityInterest
41095345
CY2012Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
40800000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
192739 shares
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired
BusinessAcquisitionPurchasePriceAllocationAssetsAcquired
99363000
CY2012Q3 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
50385417
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
315012
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10287841
CY2012Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4390302
CY2012Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2000000 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
20000
CY2012Q3 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
8986646
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
572525464
CY2012Q3 us-gaap Land Available For Development
LandAvailableForDevelopment
19006473
CY2012Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2000000 shares
CY2012Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
285168804
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
178600 shares
CY2012Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1254050
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Noncurrent Liabilities Long Term Debt
BusinessAcquisitionPurchasePriceAllocationNoncurrentLiabilitiesLongTermDebt
33103000
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired Liabilities Assumed Net
BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet
65949000
CY2012Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2012Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31501219 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
7.78
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1300000
CY2012Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
73 Property
CY2012Q3 us-gaap Liabilities
Liabilities
331750010
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
33414000
CY2012Q3 us-gaap Business Acquisition Purchase Price Allocation Other Liabilities
BusinessAcquisitionPurchasePriceAllocationOtherLiabilities
311000
CY2012Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.75
CY2012Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
312250257
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
260259037
CY2012Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
CY2012Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
17723139
CY2012Q3 inn Standby Letters Of Credit
StandbyLettersOfCredit
1300000
CY2012Q3 inn Business Acquisition Purchase Price Allocation Building And Improvements
BusinessAcquisitionPurchasePriceAllocationBuildingAndImprovements
84757000
CY2012Q3 inn Number Of Assets Held For Sale
NumberOfAssetsHeldForSale
4 Property
CY2012Q3 inn Percentage Of Current Taxable Income Distributed To Shareholders
PercentageOfCurrentTaxableIncomeDistributedToShareholders
1.00 pure
CY2012Q3 inn Share Based Compensation Arrangements By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M
CY2012Q3 inn Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm2
P8Y6M
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2011Q4 us-gaap Other Assets
OtherAssets
4019870
CY2011Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
940000 shares
CY2011Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2195820
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Property Plant And Equipment
BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment
1428000
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Land
BusinessAcquisitionPurchasePriceAllocationLand
7254000
CY2011Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
3424630
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1464032
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
319448695
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Other Assets
BusinessAcquisitionPurchasePriceAllocationOtherAssets
365000
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-11020151
CY2011Q4 us-gaap Assets
Assets
554004994
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.75
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
554004994
CY2011Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27278000 shares
CY2011Q4 us-gaap Minority Interest
MinorityInterest
41273735
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired
BusinessAcquisitionPurchasePriceAllocationAssetsAcquired
50415000
CY2011Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
50385417
CY2011Q4 us-gaap Common Stock Value
CommonStockValue
272780
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10537132
CY2011Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4268393
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2000000 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
20000
CY2011Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
8923906
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
498876238
CY2011Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
20294973
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2000000 shares
CY2011Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
288902331
CY2011Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1670994
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Assets Acquired Liabilities Assumed Net
BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet
50017000
CY2011Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2011Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27278000 shares
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Liabilities
Liabilities
234556299
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
398000
CY2011Q4 us-gaap Business Acquisition Purchase Price Allocation Other Liabilities
BusinessAcquisitionPurchasePriceAllocationOtherLiabilities
398000
CY2011Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
217103728
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
278174960
CY2011Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
15781577
CY2011Q4 inn Business Acquisition Purchase Price Allocation Building And Improvements
BusinessAcquisitionPurchasePriceAllocationBuildingAndImprovements
41368000
CY2011Q4 inn Share Based Compensation Arrangements By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y1M6D
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27278000 shares
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
517519
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
502125
us-gaap Operating Income Loss
OperatingIncomeLoss
8613881
us-gaap Other Cost Of Services
OtherCostOfServices
23964794
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1656880
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
12305241
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
1972692
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
706741
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-36031
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2166420
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
688042
us-gaap Occupancy Costs
OccupancyCosts
27715406
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
64502960
us-gaap Profit Loss
ProfitLoss
-968838
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
us-gaap Depreciation And Amortization
DepreciationAndAmortization
17937342
us-gaap Investment Income Interest
InvestmentIncomeInterest
14780
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1160913
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
221561
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.05
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
495967
us-gaap Net Income Loss
NetIncomeLoss
-707252
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9774794
us-gaap Costs And Expenses
CostsAndExpenses
86957174
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-968838
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-707252
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-261586
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
4156363
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.02
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
3228061
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
185917
us-gaap Revenues
Revenues
95571055
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27278000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
2168560
us-gaap Interest Expense
InterestExpense
9753543
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-968838
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
18699
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
928302
us-gaap Occupancy Revenue
OccupancyRevenue
93598363
inn Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
703396
inn Acquisition Related Expenses Net
AcquisitionRelatedExpensesNet
181892
inn Disposal Group Including Discontinued Operation Occupancy Costs
DisposalGroupIncludingDiscontinuedOperationOccupancyCosts
1217332
inn Disposal Group Including Discontinued Operation Other Direct Costs Of Hotels
DisposalGroupIncludingDiscontinuedOperationOtherDirectCostsOfHotels
391601
inn Disposal Group Including Discontinued Operation Other Cost Of Services
DisposalGroupIncludingDiscontinuedOperationOtherCostOfServices
915732
inn Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
-968838
CY2012Q3 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.578125
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1125
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27278000 shares
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
502125
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-6090000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-453369
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1656880
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
130658000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.03
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.05
us-gaap Depreciation Nonproduction
DepreciationNonproduction
19582596
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
716990
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.02
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27278000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
940000 shares
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1770368
us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-447503
inn Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-707252
inn Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.16
inn Net Income Loss Attributable To Common Shareholders Before Discontinued Operations
NetIncomeLossAttributableToCommonShareholdersBeforeDiscontinuedOperations
-1209377
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Trading Symbol
TradingSymbol
INN
dei Entity Registrant Name
EntityRegistrantName
SUMMIT HOTEL PROPERTIES, INC.
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001497645
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29713213 shares
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-707101
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
669500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
47000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
80541737
us-gaap Financial Services Costs
FinancialServicesCosts
650687
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
130736
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.08
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
497273
us-gaap Interest Paid
InterestPaid
11636683
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1629668
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-4193000
us-gaap Operating Income Loss
OperatingIncomeLoss
11862610
us-gaap Other Cost Of Services
OtherCostOfServices
37492154
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
529638
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
15983050
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
65949000
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
3292311
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-2065644
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
783253
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-198795
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2757611
us-gaap Share Based Compensation
ShareBasedCompensation
783253
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
144338000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-2050413
us-gaap Occupancy Costs
OccupancyCosts
39036709
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
93181413
us-gaap Profit Loss
ProfitLoss
-1520775
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
us-gaap Depreciation And Amortization
DepreciationAndAmortization
24836200
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
18421047
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-98657
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-513029
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-249291
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
us-gaap Maximum Length Of Time Hedged In Interest Rate Cash Flow Hedge1
MaximumLengthOfTimeHedgedInInterestRateCashFlowHedge1
P7Y
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68057781
us-gaap Investment Income Interest
InvestmentIncomeInterest
19554
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2903582
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-520777
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
430981
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.78
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
us-gaap Net Income Loss
NetIncomeLoss
-253953
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11431629
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.05
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
4004161
us-gaap Payments Of Dividends
PaymentsOfDividends
16128913
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1787
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
shares
us-gaap Depreciation Nonproduction
DepreciationNonproduction
22794069
us-gaap Costs And Expenses
CostsAndExpenses
126562251
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
265432
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2020132
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-684874
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3722703
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
571848
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1266822
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1356678
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
192739 shares
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2069253
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
shares
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
35550
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2545679
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
121909
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.75
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-420745
us-gaap Revenues
Revenues
138424861
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3468750
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29713213 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
43187383
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
392945
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
893000 shares
us-gaap Dividends Cash
DividendsCash
16128913
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
707101
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1795545
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Labor And Related Expense
LaborAndRelatedExpense
3563325
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1630562
us-gaap Interest Expense
InterestExpense
11747874
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2041552
us-gaap Use Of Estimates
UseOfEstimates
<div style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"> <div> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"> Use of Estimates</font></div> </div> </div> </div> <div> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br /></div> <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.&#xA0;&#xA0;Actual results could differ from those estimates.</font></div> </div> </div> </div> </div>
us-gaap Occupancy Revenue
OccupancyRevenue
135132550
inn Payment On Early Termination Of Interest Rate Swap Agreement
PaymentOnEarlyTerminationOfInterestRateSwapAgreement
546780
inn Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodTotalIntrinsicValue
us-gaap Asset Impairment Charges
AssetImpairmentCharges
2098000
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
24780
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-416944
us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-846077
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24621107
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-520777
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
142585266
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
17984149
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-15231
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-1934908
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25161462
inn Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
325262
inn Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
inn Acquisition Related Expenses Net
AcquisitionRelatedExpensesNet
1573015
inn Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-3747483
inn Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.11
inn Disposal Group Including Discontinued Operation Occupancy Costs
DisposalGroupIncludingDiscontinuedOperationOccupancyCosts
715991
inn Disposal Group Including Discontinued Operation Other Direct Costs Of Hotels
DisposalGroupIncludingDiscontinuedOperationOtherDirectCostsOfHotels
252089
inn Disposal Group Including Discontinued Operation Other Cost Of Services
DisposalGroupIncludingDiscontinuedOperationOtherCostOfServices
612819
inn Disposal Group Including Discontinued Operation Asset Impairment Charges
DisposalGroupIncludingDiscontinuedOperationAssetImpairmentCharges
2098000
inn Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
-4153624
inn Comprehensive Income Loss Available To Preferred Stockholders
ComprehensiveIncomeLossAvailableToPreferredStockholders
3468750
inn Net Income Loss Attributable To Common Shareholders Before Discontinued Operations
NetIncomeLossAttributableToCommonShareholdersBeforeDiscontinuedOperations
-2117815
CY2011Q1 us-gaap Partners Capital Account Units Contributed
PartnersCapitalAccountUnitsContributed
27274000 shares
CY2011Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
940000 shares
CY2011Q1 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
9993992 shares
CY2012Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.578125
CY2012Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1125
CY2011Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1125
CY2011Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1125
CY2012Q2 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.578125
CY2012Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.1125
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.566 pure
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0257 pure
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.48
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0509 pure
CY2011 inn Number Of Properties Acquired
NumberOfPropertiesAcquired
5 Property
CY2012Q1 inn Number Of Properties Acquired
NumberOfPropertiesAcquired
3 Property
CY2012Q1 inn Disposal Group Including Discontinued Operation Asset Impairment Charges
DisposalGroupIncludingDiscontinuedOperationAssetImpairmentCharges
932000
CY2012Q2 inn Proceeds From Sale Of Discontinued Operations
ProceedsFromSaleOfDiscontinuedOperations
16500000
CY2012Q2 inn Number Of Properties Acquired
NumberOfPropertiesAcquired
3 Property
CY2012Q2 inn Number Of Properties Sold
NumberOfPropertiesSold
3 Property
CY2012Q2 inn Disposal Group Including Discontinued Operation Asset Impairment Charges
DisposalGroupIncludingDiscontinuedOperationAssetImpairmentCharges
1166000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27278000 shares
CY2011Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
243434
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
296402
CY2011Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
153000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2970517
CY2011Q3 us-gaap Other Cost Of Services
OtherCostOfServices
10354525
CY2011Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-364727
CY2011Q3 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
5371116
CY2011Q3 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
846774
CY2011Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
406024
CY2011Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
625609
CY2011Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
45916000
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
406149
CY2011Q3 us-gaap Occupancy Costs
OccupancyCosts
11789795
CY2011Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
27758870
CY2011Q3 us-gaap Profit Loss
ProfitLoss
41422
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.00
CY2011Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8108644
CY2011Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
553
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-366415
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
118850
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1688
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
30238
CY2011Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3336932
CY2011Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
7097918
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
37466059
CY2011Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
41422
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30238
CY2011Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
140954
CY2011Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
11184
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1893129
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.01
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
1368255
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
109747
CY2011Q3 us-gaap Revenues
Revenues
40436576
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27278000 shares
CY2011Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1153043
CY2011Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
791044
CY2011Q3 us-gaap Interest Expense
InterestExpense
3337485
CY2011Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
41422
CY2011Q3 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
-98563
CY2011Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-125
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
524874
CY2011Q3 us-gaap Occupancy Revenue
OccupancyRevenue
39589802
CY2011Q3 inn Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
283271
CY2011Q3 inn Acquisition Related Expenses Net
AcquisitionRelatedExpensesNet
181892
CY2011Q3 inn Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
30238
CY2011Q3 inn Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.00
CY2011Q3 inn Disposal Group Including Discontinued Operation Occupancy Costs
DisposalGroupIncludingDiscontinuedOperationOccupancyCosts
499243
CY2011Q3 inn Disposal Group Including Discontinued Operation Other Direct Costs Of Hotels
DisposalGroupIncludingDiscontinuedOperationOtherDirectCostsOfHotels
173309
CY2011Q3 inn Disposal Group Including Discontinued Operation Other Cost Of Services
DisposalGroupIncludingDiscontinuedOperationOtherCostOfServices
412432
CY2011Q3 inn Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
41422
CY2011Q3 inn Net Income Loss Attributable To Common Shareholders Before Discontinued Operations
NetIncomeLossAttributableToCommonShareholdersBeforeDiscontinuedOperations
-266164
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31308480 shares
CY2012Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
226496
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
43469
CY2012Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
485000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5923256
CY2012Q3 us-gaap Other Cost Of Services
OtherCostOfServices
13690221
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1588960
CY2012Q3 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
5957531
CY2012Q3 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
1171162
CY2012Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
54432
CY2012Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-12206
CY2012Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
823480
CY2012Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
51234000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
51866
CY2012Q3 us-gaap Occupancy Costs
OccupancyCosts
13990364
CY2012Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
33864612
CY2012Q3 us-gaap Profit Loss
ProfitLoss
1640826
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8503841
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
17863
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-240948
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1902159
CY2012Q3 us-gaap Financial Services Costs
FinancialServicesCosts
227577
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.01
CY2012Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
22697
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
313199
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
1562378
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4021097
CY2012Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-775
CY2012Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
7780890
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
45310651
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1360437
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
406128
CY2012Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
150099
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
78448
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
39441
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
157284
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
102852
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
8397
CY2012Q3 us-gaap Revenues
Revenues
51233907
CY2012Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1156250
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31501219 shares
CY2012Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
572852
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1645359
CY2012Q3 us-gaap Interest Expense
InterestExpense
4048676
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1399878
CY2012Q3 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
70051
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-240948
CY2012Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
2566
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
54432
CY2012Q3 us-gaap Occupancy Revenue
OccupancyRevenue
50062745
CY2012Q3 inn Proceeds From Sale Of Discontinued Operations
ProceedsFromSaleOfDiscontinuedOperations
1900000
CY2012Q3 inn Acquisition Related Expenses Net
AcquisitionRelatedExpensesNet
245782
CY2012Q3 inn Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
406128
CY2012Q3 inn Number Of Properties Acquired
NumberOfPropertiesAcquired
1 Property
CY2012Q3 inn Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.01
CY2012Q3 inn Disposal Group Including Discontinued Operation Occupancy Costs
DisposalGroupIncludingDiscontinuedOperationOccupancyCosts
42802
CY2012Q3 inn Disposal Group Including Discontinued Operation Other Direct Costs Of Hotels
DisposalGroupIncludingDiscontinuedOperationOtherDirectCostsOfHotels
17625
CY2012Q3 inn Disposal Group Including Discontinued Operation Other Cost Of Services
DisposalGroupIncludingDiscontinuedOperationOtherCostOfServices
42425
CY2012Q3 inn Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
204187
CY2012Q3 inn Comprehensive Income Loss Available To Preferred Stockholders
ComprehensiveIncomeLossAvailableToPreferredStockholders
1156250
CY2012Q3 inn Net Income Loss Attributable To Common Shareholders Before Discontinued Operations
NetIncomeLossAttributableToCommonShareholdersBeforeDiscontinuedOperations
362659

Files In Submission

Name View Source Status
0001157523-12-005863-index-headers.html Edgar Link pending
0001157523-12-005863-index.html Edgar Link pending
0001157523-12-005863.txt Edgar Link pending
0001157523-12-005863-xbrl.zip Edgar Link pending
a50456744.htm Edgar Link pending
a50456744ex10_1.htm Edgar Link pending
a50456744ex31_1.htm Edgar Link pending
a50456744ex31_2.htm Edgar Link pending
a50456744ex31_3.htm Edgar Link pending
a50456744ex31_4.htm Edgar Link pending
a50456744ex32_1.htm Edgar Link pending
a50456744ex32_2.htm Edgar Link pending
a50456744ex32_3.htm Edgar Link pending
a50456744ex32_4.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
inn-20120930.xml Edgar Link completed
inn-20120930.xsd Edgar Link pending
inn-20120930_cal.xml Edgar Link unprocessable
inn-20120930_def.xml Edgar Link unprocessable
inn-20120930_lab.xml Edgar Link unprocessable
inn-20120930_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending