$INN
Summit Hotel Properties, Inc. Stock $inn

$inn Overview Financials Valuation SEC Filings Company Website

2018 Q2 Form 10-Q Financial Statement

#000149764518000011 Filed on August 01, 2018

Income Statement

Concept	2018 Q2	2017 Q2
Revenue	$152.2M	$129.1M
YoY Change	17.95%	1.46%
Cost Of Revenue	$83.20M	$79.50M
YoY Change	4.66%	3.57%
Gross Profit	$69.00M	$49.56M
YoY Change	39.23%	-1.75%
Gross Profit Margin	45.33%	38.4%
Selling, General & Admin	$16.70M	$5.300M
YoY Change	215.09%	-1.85%
% of Gross Profit	24.2%	10.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$25.00M	$19.80M
YoY Change	26.26%	11.86%
% of Gross Profit	36.23%	39.95%
Operating Expenses	$41.60M	$25.00M
YoY Change	66.4%	8.23%
Operating Profit	$44.76M	$24.52M
YoY Change	82.59%	-4.37%
Interest Expense	$10.40M	$6.927M
YoY Change	50.17%	-2.75%
% of Operating Profit	23.24%	28.26%
Other Income/Expense, Net	-$6.932M	$9.991M
YoY Change	-169.38%	-381.91%
Pretax Income	$37.83M	$34.51M
YoY Change	9.63%	56.21%
Income Tax	$200.0K	$423.0K
% Of Pretax Income	0.53%	1.23%
Net Earnings	$37.58M	$33.97M
YoY Change	10.62%	55.36%
Net Earnings / Revenue	24.68%	26.32%
Basic Earnings Per Share	$0.33	$0.30
Diluted Earnings Per Share	$0.32	$0.30
COMMON SHARES
Basic Shares Outstanding	103.6M shares	98.18M shares
Diluted Shares Outstanding	103.9M shares	98.71M shares

Balance Sheet

Concept	2018 Q2	2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$48.90M	$29.80M
YoY Change	64.09%	-60.99%
Cash & Equivalents	$48.89M	$29.82M
Short-Term Investments
Other Short-Term Assets	$7.400M	$8.700M
YoY Change	-14.94%	4.82%
Inventory
Prepaid Expenses
Receivables	$20.90M	$17.90M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$77.20M	$56.40M
YoY Change	36.88%	-43.37%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.015B	$1.858B
YoY Change	8.46%	31.12%
Goodwill
YoY Change
Intangibles	$21.35M	$21.72M
YoY Change	-1.7%
Long-Term Investments	$28.90M	$22.80M
YoY Change	26.75%	29.55%
Other Assets	$75.10M	$51.00M
YoY Change	47.25%	-48.07%
Total Long-Term Assets	$2.139B	$1.940B
YoY Change	10.25%	25.37%
TOTAL ASSETS
Total Short-Term Assets	$77.20M	$56.40M
Total Long-Term Assets	$2.139B	$1.940B
Total Assets	$2.216B	$1.997B
YoY Change	11.01%	21.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.200M	$7.600M
YoY Change	-18.42%	58.33%
Accrued Expenses	$61.50M	$47.50M
YoY Change	29.47%	1.06%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$67.70M	$55.10M
YoY Change	22.87%	6.37%
LONG-TERM LIABILITIES
Long-Term Debt	$950.5M	$735.2M
YoY Change	29.28%	18.12%
Other Long-Term Liabilities		$600.0K
YoY Change		-76.0%
Total Long-Term Liabilities	$950.5M	$735.8M
YoY Change	29.18%	17.75%
TOTAL LIABILITIES
Total Short-Term Liabilities	$67.70M	$55.10M
Total Long-Term Liabilities	$950.5M	$735.8M
Total Liabilities	$1.018B	$791.0M
YoY Change	28.73%	16.89%
SHAREHOLDERS EQUITY
Retained Earnings	$6.310M	$24.32M
YoY Change	-74.05%	-5540.27%
Common Stock	$1.047M	$1.042M
YoY Change	0.48%	19.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.195B	$1.202B
YoY Change
Total Liabilities & Shareholders Equity	$2.216B	$1.997B
YoY Change	11.01%	21.21%

Cashflow Statement

Concept	2018 Q2	2017 Q2
OPERATING ACTIVITIES
Net Income	$37.58M	$33.97M
YoY Change	10.62%	55.36%
Depreciation, Depletion And Amortization	$25.00M	$19.80M
YoY Change	26.26%	11.86%
Cash From Operating Activities	$46.70M	$39.50M
YoY Change	18.23%	-12.22%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$306.6M
YoY Change	-100.0%
Acquisitions
YoY Change
Other Investing Activities	$7.800M	$67.50M
YoY Change	-88.44%	306.63%
Cash From Investing Activities	$7.800M	-$239.1M
YoY Change	-103.26%	-1540.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-48.00M	162.1M
YoY Change	-129.61%	-948.69%
NET CHANGE
Cash From Operating Activities	46.70M	39.50M
Cash From Investing Activities	7.800M	-239.1M
Cash From Financing Activities	-48.00M	162.1M
Net Change In Cash	6.500M	-37.50M
YoY Change	-117.33%	-188.24%
FREE CASH FLOW
Cash From Operating Activities	$46.70M	$39.50M
Capital Expenditures	$0.00	-$306.6M
Free Cash Flow	$46.70M	$346.1M
YoY Change	-86.51%	669.11%

Facts In Submission

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	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
	dei	Document Period End Date DocumentPeriodEndDate	2018-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001497645
CY2018Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	104744101	shares
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	Summit Hotel Properties, Inc.
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CY2018Q2	inn	Acquisition Related Expenses Net AcquisitionRelatedExpensesNet	0	USD
	inn	Acquisition Related Expenses Net AcquisitionRelatedExpensesNet	0	USD
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CY2017Q2	inn	Business Combination Settlement Amountof Net Working Capital Assets BusinessCombinationSettlementAmountofNetWorkingCapitalAssets	800000	USD
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	inn	Comprehensive Income Loss Available To Common Stockholders ComprehensiveIncomeLossAvailableToCommonStockholders	59176000	USD
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	inn	Comprehensive Income Loss Available To Common Stockholders ComprehensiveIncomeLossAvailableToCommonStockholders	38829000	USD
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CY2017Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.30
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	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.33
CY2018Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	9183000	USD
CY2017Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1001000	USD
CY2018Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1411000	USD
CY2017Q2	us-gaap	Food And Beverage Cost Of Sales FoodAndBeverageCostOfSales	3909000	USD
	us-gaap	Food And Beverage Cost Of Sales FoodAndBeverageCostOfSales	7833000	USD
CY2018Q2	us-gaap	Food And Beverage Cost Of Sales FoodAndBeverageCostOfSales	5107000	USD
	us-gaap	Food And Beverage Cost Of Sales FoodAndBeverageCostOfSales	10106000	USD
CY2017Q2	us-gaap	Food And Beverage Revenue FoodAndBeverageRevenue	5294000	USD
	us-gaap	Food And Beverage Revenue FoodAndBeverageRevenue	10253000	USD
CY2018Q2	us-gaap	Food And Beverage Revenue FoodAndBeverageRevenue	6517000	USD
	us-gaap	Food And Beverage Revenue FoodAndBeverageRevenue	12846000	USD
CY2017Q2	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	16350000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	35806000	USD
CY2018Q2	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	17331000	USD
	us-gaap	Gain Loss On Disposition Of Assets GainLossOnDispositionOfAssets	17288000	USD
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	20806000	USD
	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	17288000	USD
CY2017Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5310000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	10448000	USD
CY2018Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5620000	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	12227000	USD
CY2017Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	34506000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	68133000	USD
CY2018Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	37829000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	47780000	USD
CY2017Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	423000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	844000	USD
CY2018Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	152000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	412000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	463000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	622000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-156000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-33000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	6132000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	4057000	USD
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	1829000	USD
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	2041000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-595000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-1545000	USD
CY2017Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	522000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	495000	shares
CY2018Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	240000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	320000	shares
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	199000	USD
CY2017Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	22764000	USD
CY2018Q2	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	22764000	USD
CY2017Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	21763000	USD
CY2018Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	21353000	USD
CY2017Q2	us-gaap	Interest Expense InterestExpense	6927000	USD
	us-gaap	Interest Expense InterestExpense	13718000	USD
CY2018Q2	us-gaap	Interest Expense InterestExpense	10402000	USD
	us-gaap	Interest Expense InterestExpense	19731000	USD
	us-gaap	Interest Paid InterestPaid	12743000	USD
	us-gaap	Interest Paid InterestPaid	18638000	USD
	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	73000	USD
	us-gaap	Interest Paid Capitalized InterestPaidCapitalized	446000	USD
CY2017Q4	us-gaap	Land Available For Development LandAvailableForDevelopment	2942000	USD
CY2018Q2	us-gaap	Land Available For Development LandAvailableForDevelopment	2942000	USD
CY2017Q2	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	400000	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	900000	USD
CY2018Q2	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	400000	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	900000	USD
CY2017Q4	us-gaap	Liabilities Liabilities	932498000	USD
CY2018Q2	us-gaap	Liabilities Liabilities	1018212000	USD
CY2017Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2209874000	USD
CY2018Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2216268000	USD
CY2017Q4	us-gaap	Long Term Debt LongTermDebt	868236000	USD
CY2018Q2	us-gaap	Long Term Debt LongTermDebt	950497000	USD
CY2017Q4	us-gaap	Long Term Debt Percentage Bearing Fixed Interest Rate LongTermDebtPercentageBearingFixedInterestRate	0.44
CY2018Q2	us-gaap	Long Term Debt Percentage Bearing Fixed Interest Rate LongTermDebtPercentageBearingFixedInterestRate	0.58
CY2017Q4	us-gaap	Long Term Debt Percentage Bearing Variable Interest Rate LongTermDebtPercentageBearingVariableInterestRate	0.56
CY2018Q2	us-gaap	Long Term Debt Percentage Bearing Variable Interest Rate LongTermDebtPercentageBearingVariableInterestRate	0.42
CY2017Q4	us-gaap	Longterm Debt Percentage Bearing Fixed Interest Amount LongtermDebtPercentageBearingFixedInterestAmount	386313000	USD
CY2018Q2	us-gaap	Longterm Debt Percentage Bearing Fixed Interest Amount LongtermDebtPercentageBearingFixedInterestAmount	554461000	USD
CY2017Q4	us-gaap	Longterm Debt Percentage Bearing Variable Interest Amount LongtermDebtPercentageBearingVariableInterestAmount	486796000	USD
CY2018Q2	us-gaap	Longterm Debt Percentage Bearing Variable Interest Amount LongtermDebtPercentageBearingVariableInterestAmount	401352000	USD
CY2017Q4	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	2874000	USD
CY2018Q2	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	2662000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	203226000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-54071000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-277515000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-14986000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	70093000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	84414000	USD
CY2017Q2	us-gaap	Net Income Loss NetIncomeLoss	33969000	USD
	us-gaap	Net Income Loss NetIncomeLoss	67055000	USD
CY2018Q2	us-gaap	Net Income Loss NetIncomeLoss	37576000	USD
	us-gaap	Net Income Loss NetIncomeLoss	47264000	USD
CY2017Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	29769000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	408000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	1785000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	58655000	USD
CY2018Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	33867000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	34735000	USD
CY2017Q2	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	114000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	234000	USD
CY2018Q2	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	101000	USD
	us-gaap	Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable	104000	USD
CY2017Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	9991000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	25051000	USD
CY2018Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	10399000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	1816000	USD
CY2017Q4	us-gaap	Notes Receivable Net NotesReceivableNet	12356000	USD
CY2018Q2	us-gaap	Notes Receivable Net NotesReceivableNet	28945000	USD
CY2018Q2	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	80	hotel
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	Segment
CY2018Q2	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	26	State
CY2017Q2	us-gaap	Occupancy Costs OccupancyCosts	26455000	USD
	us-gaap	Occupancy Costs OccupancyCosts	51459000	USD
CY2018Q2	us-gaap	Occupancy Costs OccupancyCosts	31113000	USD
	us-gaap	Occupancy Costs OccupancyCosts	60118000	USD
CY2017Q2	us-gaap	Occupancy Revenue OccupancyRevenue	120514000	USD
	us-gaap	Occupancy Revenue OccupancyRevenue	230864000	USD
CY2018Q2	us-gaap	Occupancy Revenue OccupancyRevenue	140650000	USD
	us-gaap	Occupancy Revenue OccupancyRevenue	270222000	USD
CY2017Q4	us-gaap	Off Market Lease Unfavorable OffMarketLeaseUnfavorable	4717000	USD
CY2018Q2	us-gaap	Off Market Lease Unfavorable OffMarketLeaseUnfavorable	4669000	USD
CY2017Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	24515000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	43082000	USD
CY2018Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	27430000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	45964000	USD
CY2017Q4	us-gaap	Other Assets OtherAssets	12431000	USD
CY2018Q2	us-gaap	Other Assets OtherAssets	17483000	USD
CY2017Q2	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	174000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	523000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	362000	USD
	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	4106000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	523000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	4106000	USD
CY2017Q2	us-gaap	Other Direct Costs Of Hotels OtherDirectCostsOfHotels	35259000	USD
	us-gaap	Other Direct Costs Of Hotels OtherDirectCostsOfHotels	68437000	USD
CY2018Q2	us-gaap	Other Direct Costs Of Hotels OtherDirectCostsOfHotels	41578000	USD
	us-gaap	Other Direct Costs Of Hotels OtherDirectCostsOfHotels	81036000	USD
CY2017Q2	us-gaap	Other Hotel Operating Revenue OtherHotelOperatingRevenue	3248000	USD
	us-gaap	Other Hotel Operating Revenue OtherHotelOperatingRevenue	5928000	USD
CY2018Q2	us-gaap	Other Hotel Operating Revenue OtherHotelOperatingRevenue	5055000	USD
	us-gaap	Other Hotel Operating Revenue OtherHotelOperatingRevenue	9353000	USD
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	100000	USD
CY2017Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	568000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	2963000	USD
CY2018Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	3470000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	4259000	USD
CY2017Q2	us-gaap	Owned Property Management Costs OwnedPropertyManagementCosts	5063000	USD
	us-gaap	Owned Property Management Costs OwnedPropertyManagementCosts	9792000	USD
CY2018Q2	us-gaap	Owned Property Management Costs OwnedPropertyManagementCosts	5388000	USD
	us-gaap	Owned Property Management Costs OwnedPropertyManagementCosts	10740000	USD
	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	13953000	USD
	us-gaap	Payments For Capital Improvements PaymentsForCapitalImprovements	30648000	USD
	us-gaap	Payments For Repurchase Of Preferred Stock And Preference Stock PaymentsForRepurchaseOfPreferredStockAndPreferenceStock	0	USD
	us-gaap	Payments For Repurchase Of Preferred Stock And Preference Stock PaymentsForRepurchaseOfPreferredStockAndPreferenceStock	85000000	USD
	us-gaap	Payments To Acquire Notes Receivable PaymentsToAcquireNotesReceivable	15245000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	367135000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	0	USD
	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	9865000	USD
	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	10828000	USD
CY2017Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	4200000	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	8400000	USD
CY2018Q2	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	3709000	USD
	us-gaap	Preferred Stock Dividends Income Statement Impact PreferredStockDividendsIncomeStatementImpact	9252000	USD
CY2017Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2018Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2017Q2	us-gaap	Preferred Stock Redemption Premium PreferredStockRedemptionPremium	0	USD
	us-gaap	Preferred Stock Redemption Premium PreferredStockRedemptionPremium	0	USD
CY2018Q2	us-gaap	Preferred Stock Redemption Premium PreferredStockRedemptionPremium	0	USD
	us-gaap	Preferred Stock Redemption Premium PreferredStockRedemptionPremium	3277000	USD
CY2017Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000	shares
CY2018Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	100000000	shares
CY2017Q4	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	9454000	USD
CY2018Q2	us-gaap	Prepaid Expense And Other Assets PrepaidExpenseAndOtherAssets	7371000	USD
	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	260000000	USD
	us-gaap	Proceeds From Issuance Of Debt ProceedsFromIssuanceOfDebt	420000000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	163834000	USD
	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	0	USD
	us-gaap	Proceeds From Sale And Collection Of Loans Receivable ProceedsFromSaleAndCollectionOfLoansReceivable	22506000	USD
	us-gaap	Proceeds From Sale And Collection Of Loans Receivable ProceedsFromSaleAndCollectionOfLoansReceivable	0	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	93272000	USD
	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	41735000	USD
CY2017Q2	us-gaap	Profit Loss ProfitLoss	34083000	USD
	us-gaap	Profit Loss ProfitLoss	67289000	USD
CY2017Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	2350559000	USD
CY2018Q2	us-gaap	Profit Loss ProfitLoss	37677000	USD
	us-gaap	Profit Loss ProfitLoss	47368000	USD
CY2017Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	291067000	USD
CY2018Q2	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	320387000	USD
CY2017Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	29500000	USD
CY2017Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	29462000	USD
CY2018Q2	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	32500000	USD
CY2018Q2	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	32479000	USD
CY2017Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	9201000	USD
CY2018Q2	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	2334974000	USD
CY2017Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	2059492000	USD
CY2018Q2	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	2014587000	USD
CY2017Q2	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	8813000	USD
	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	17182000	USD
CY2018Q2	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	11032000	USD
	us-gaap	Real Estate Taxes And Insurance RealEstateTaxesAndInsurance	22030000	USD
	us-gaap	Repayments Of Debt RepaymentsOfDebt	178178000	USD
	us-gaap	Repayments Of Debt RepaymentsOfDebt	337297000	USD
CY2018Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	6310000	USD
CY2017Q2	us-gaap	Revenues Revenues	129056000	USD
	us-gaap	Revenues Revenues	247045000	USD
CY2018Q2	us-gaap	Revenues Revenues	152222000	USD
	us-gaap	Revenues Revenues	292421000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	2994000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	4048000	USD
	us-gaap	Shares Paid For Tax Withholding For Share Based Compensation SharesPaidForTaxWithholdingForShareBasedCompensation	59111	shares
	us-gaap	Shares Paid For Tax Withholding For Share Based Compensation SharesPaidForTaxWithholdingForShareBasedCompensation	187850	shares
	us-gaap	Stock Issued During Period Shares Conversion Of Units StockIssuedDuringPeriodSharesConversionOfUnits	30657	shares
	us-gaap	Stock Issued During Period Shares Conversion Of Units StockIssuedDuringPeriodSharesConversionOfUnits	25839	shares
	us-gaap	Stock Issued During Period Shares Issued For Services StockIssuedDuringPeriodSharesIssuedForServices	2454	shares
	us-gaap	Stock Issued During Period Shares Issued For Services StockIssuedDuringPeriodSharesIssuedForServices	2299	shares
	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	10350000	shares
	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	0	shares
	us-gaap	Stock Issued During Period Shares Share Based Compensation Forfeited StockIssuedDuringPeriodSharesShareBasedCompensationForfeited	1237	shares
	us-gaap	Stock Issued During Period Shares Share Based Compensation Forfeited StockIssuedDuringPeriodSharesShareBasedCompensationForfeited	818	shares
	us-gaap	Stock Issued During Period Shares Share Based Compensation Gross StockIssuedDuringPeriodSharesShareBasedCompensationGross	366679	shares
	us-gaap	Stock Issued During Period Shares Share Based Compensation Gross StockIssuedDuringPeriodSharesShareBasedCompensationGross	583373	shares
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	163670000	USD
	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	2994000	USD
	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	4048000	USD
	us-gaap	Stock Redeemed Or Called During Period Value StockRedeemedOrCalledDuringPeriodValue	85000000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	1274502000	USD
CY2018Q2	us-gaap	Stockholders Equity StockholdersEquity	1195394000	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1013470000	USD
CY2017Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1205544000	USD
CY2017Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1277376000	USD
CY2018Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1198056000	USD
	us-gaap	Stockholders Equity Other StockholdersEquityOther	127000	USD
CY2017Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	4873000	USD
CY2018Q2	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	5316000	USD
CY2017Q2	us-gaap	Undistributed Earnings UndistributedEarnings	29643000	USD
	us-gaap	Undistributed Earnings UndistributedEarnings	58415000	USD
CY2018Q2	us-gaap	Undistributed Earnings UndistributedEarnings	33747000	USD
	us-gaap	Undistributed Earnings UndistributedEarnings	34598000	USD
CY2017Q2	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	126000	USD
	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	240000	USD
CY2018Q2	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	120000	USD
	us-gaap	Undistributed Earnings Loss Allocated To Participating Securities Basic UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic	137000	USD
CY2018Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2017Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	98706000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	95983000	shares
CY2018Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	103883000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	103892000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	98184000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	95488000	shares
CY2018Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	103643000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	103572000	shares
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts reported in the Condensed Consolidated Statements of Operations in previous periods have been disaggregated and reclassified to conform to the current period presentation. Revenues have been disaggregated into Rooms, Food and beverage, and Other. Direct and Indirect expense has been reclassified into Room, Food and beverage, and Other hotel operating expenses. Property taxes, insurance and other, and Management expenses are also separately reported. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have also reclassified certain intangible assets related to our acquisitions of hotel properties from Other assets to Investment in hotel properties, net, on the Condensed Consolidated Balance Sheet. See "Note 3 - Investment in Hotel Properties, net" for further details.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These reclassifications, made at June 30, 2018 and for the three and six months then ended, had no net effect on the previously reported financial position or results of operations.</font></div></div>
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Summit Hotel Properties, Inc. (the “Company”) is a self-managed hotel investment company that was organized on June 30, 2010, as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the “Operating Partnership”), a Delaware limited partnership also organized on June 30, 2010. On February 14, 2011, the Company closed on its initial public offering ("IPO") and completed certain formation transactions, including the merger of Summit Hotel Properties, LLC with and into the Operating Partnership. Unless the context otherwise requires, “we,” “us,” and “our” refer to the Company and its consolidated subsidiaries.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We focus on owning primarily premium-branded, select-service hotels. At </font><font style="font-family:inherit;font-size:10pt;">June 30, 2018</font><font style="font-family:inherit;font-size:10pt;">, our portfolio consisted of </font><font style="font-family:inherit;font-size:10pt;">80</font><font style="font-family:inherit;font-size:10pt;"> hotels with a total of </font><font style="font-family:inherit;font-size:10pt;">11,978</font><font style="font-family:inherit;font-size:10pt;"> guestrooms located in </font><font style="font-family:inherit;font-size:10pt;">26</font><font style="font-family:inherit;font-size:10pt;"> states. We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes commencing with our short taxable year ended December 31, 2011. To qualify as a REIT, we cannot operate or manage our hotels. Accordingly, all of our hotels are leased to subsidiaries (“TRS Lessees”) of our taxable REIT subsidiary (“TRS”). We indirectly own </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> of the outstanding equity interests in all of our TRS Lessees.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

Files In Submission

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0001497645-18-000011-index-headers.html	Edgar Link	pending
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Summit Hotel Properties, Inc. Stock $inn

2018 Q2 Form 10-Q Financial Statement

#000149764518000011 Filed on August 01, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INN Summit Hotel Properties, Inc. Stock $inn

2018 Q2 Form 10-Q Financial Statement

#000149764518000011 Filed on August 01, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INN
Summit Hotel Properties, Inc. Stock $inn