$INN
Summit Hotel Properties, Inc.

2022 Q3 Form 10-Q Financial Statement

#000149764522000008 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $178.3M $183.2M $106.9M
YoY Change 61.04% 111.79% 121.57%
Cost Of Revenue $103.8M $100.5M $62.37M
YoY Change 69.39% 100.09% 76.69%
Gross Profit $74.48M $82.70M $44.49M
YoY Change 50.69% 127.99% 244.88%
Gross Profit Margin 41.78% 45.13% 41.63%
Selling, General & Admin $19.91M $21.60M $19.92M
YoY Change 18.64% 23.45% 17.88%
% of Gross Profit 26.73% 26.12% 44.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.13M $38.06M $26.18M
YoY Change 47.26% 43.17% -4.8%
% of Gross Profit 51.2% 46.02% 58.84%
Operating Expenses $57.19M $59.41M $46.10M
YoY Change 42.82% 34.76% -1.07%
Operating Profit $17.23M $43.10M -$1.611M
YoY Change 243.02% -470.65% -95.22%
Interest Expense $17.65M $15.12M -$10.80M
YoY Change 63.12% 37.91% 1.9%
% of Operating Profit 102.41% 35.08%
Other Income/Expense, Net -$18.06M -$13.35M $1.746M
YoY Change 110.82% 53.97% 191.0%
Pretax Income -$831.0K $29.75M -$10.51M
YoY Change -76.55% -246.6% -76.6%
Income Tax $200.0K $6.400M $398.0K
% Of Pretax Income 21.51%
Net Earnings -$1.041M $23.31M -$11.01M
YoY Change -76.89% -224.72% -74.42%
Net Earnings / Revenue -0.58% 12.72% -10.3%
Basic Earnings Per Share $0.00 $0.08 -$0.15
Diluted Earnings Per Share $0.00 $0.07 -$0.15
COMMON SHARES
Basic Shares Outstanding 106.9M shares 105.2M shares 106.5M shares
Diluted Shares Outstanding 105.2M shares 121.4M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.62M $110.0M $64.49M
YoY Change 21.74% 96.19% 211.52%
Cash & Equivalents $72.62M $110.0M $64.49M
Short-Term Investments
Other Short-Term Assets $15.27M $15.91M $24.50M
YoY Change 108.89% 82.96% 149.96%
Inventory
Prepaid Expenses
Receivables $23.51M $21.02M $14.48M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $111.4M $146.9M $103.5M
YoY Change 37.24% 84.72% 144.58%
LONG-TERM ASSETS
Property, Plant & Equipment $2.918B $2.930B $2.119B
YoY Change 38.58% 40.07% -0.73%
Goodwill
YoY Change
Intangibles $35.85M $36.89M $10.83M
YoY Change -0.8%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $26.41M $44.01M $37.23M
YoY Change -12.55% 64.68% 61.87%
Total Long-Term Assets $2.964B $2.978B $2.161B
YoY Change 36.79% 38.38% -1.34%
TOTAL ASSETS
Total Short-Term Assets $111.4M $146.9M $103.5M
Total Long-Term Assets $2.964B $2.978B $2.161B
Total Assets $3.076B $3.125B $2.265B
YoY Change 36.81% 40.03% 1.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.901M $8.332M $4.462M
YoY Change 36.28% 173.9% 65.26%
Accrued Expenses $120.4M $107.5M $83.45M
YoY Change 37.08% 27.74% -0.06%
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 $126.3M $115.9M $87.91M
YoY Change 37.04% 32.84% -2.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.468B $1.524B $1.070B
YoY Change 38.96% 41.26% -1.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.468B $1.524B $1.070B
YoY Change 38.96% 41.26% -1.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $126.3M $115.9M $87.91M
Total Long-Term Liabilities $1.468B $1.524B $1.070B
Total Liabilities $1.595B $1.639B $1.158B
YoY Change 38.81% 40.63% -1.97%
SHAREHOLDERS EQUITY
Retained Earnings -$272.0M -$267.2M -$262.6M
YoY Change 9.94% 13.01% 46.72%
Common Stock $1.069M $1.069M $1.063M
YoY Change 0.47% 0.47% 0.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $975.6M $964.7M $948.1M
YoY Change
Total Liabilities & Shareholders Equity $3.076B $3.125B $2.265B
YoY Change 36.81% 40.03% 1.43%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$1.041M $23.31M -$11.01M
YoY Change -76.89% -224.72% -74.42%
Depreciation, Depletion And Amortization $38.13M $38.06M $26.18M
YoY Change 47.26% 43.17% -4.8%
Cash From Operating Activities $48.78M $61.40M $15.76M
YoY Change 37.56% 240.53% -176.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$8.518M -$25.87M
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$22.64M $58.57M $3.502M
YoY Change 267.07% -1023.56% -206.12%
Cash From Investing Activities -$22.64M $50.05M -$22.36M
YoY Change -42.44% -889.25% 577.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.95M -80.62M 18.38M
YoY Change -844.18% -522.39% 191.67%
NET CHANGE
Cash From Operating Activities 48.78M 61.40M 15.76M
Cash From Investing Activities -22.64M 50.05M -22.36M
Cash From Financing Activities -80.95M -80.62M 18.38M
Net Change In Cash -54.81M 30.83M 11.77M
YoY Change -883.18% 0.17% -166.51%
FREE CASH FLOW
Cash From Operating Activities $48.78M $61.40M $15.76M
Capital Expenditures $0.00 -$8.518M -$25.87M
Free Cash Flow $48.78M $69.92M $41.63M
YoY Change -28.93% -301.1%

Facts In Submission

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SUMMIT HOTEL PROPERTIES, INC.
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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">General</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Unless the context otherwise requires, “we,” “us,” and “our” refer to the Company and its consolidated subsidiaries.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We focus on owning premium-branded hotel properties with efficient operating models primarily in the Upscale segment of the lodging industry. At June 30, 2022, our portfolio consisted of 102 hotel properties with a total of 15,323 guestrooms located in 24 states. As of June 30, 2022, we own 100% of the outstanding equity interests in 61 of our 102 hotel properties. We own a 51% controlling interest in 39 hotel properties through a joint venture that was formed in July 2019 with GIC (the “GIC Joint Venture”), Singapore’s sovereign wealth fund. We also own a 90% controlling interest in two hotel properties that we acquired in June 2022 through another joint venture (the "Brickell Joint Venture"). </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. To qualify as a REIT, we cannot operate or manage our hotel properties. Accordingly, all of our hotel properties are leased to our taxable REIT subsidiaries (“TRS Lessees”). </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the six months ended June 30, 2022, the Operating Partnership and the GIC Joint Venture closed on a transaction with</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NewcrestImage Holdings, LLC, a Delaware limited liability company, and NewcrestImage Holdings II, LLC, a Delaware</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">limited liability company (together, “NewcrestImage”), to purchase from NewcrestImage a portfolio of 27 hotel properties,</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">containing an aggregate of 3,709 guestrooms, and two parking structures, containing 1,002 spaces and various financial incentives for an aggregate purchase price of $822.0 million (the "NCI Transaction"). In June 2022, the Operating Partnership exercised an option to acquire a 90% equity interest in the AC Hotel by Marriott and Element Miami Brickell Hotel in Miami, FL. (together the "AC/Element Hotel") based on a gross hotel option exercise price of $89.0 million (the "Brickell Transaction"). See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">"Note 3 - Investment in Hotel Properties, net"</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further information.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Risks and Uncertainties</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning in March 2020, we experienced the negative effects of the novel coronavirus, designated as COVID-19 (“COVID-19”) and its variants (collectively, the "Pandemic"), which had a significant negative effect on the U.S. and global economies, including a rapid and sharp decline in all forms of travel, both domestic and international, and a significant decline in hotel demand. As such, we experienced a substantial decline in our revenues, profitability and cash flows from operations during the years ended December 31, 2020 and 2021. Additionally, there has been a sharp increase in inflation and interest rates during the six months ended June 30, 2022. The extended effects of the Pandemic and macroeconomic conditions may result in additional risks and uncertainties related to our business and our ability to recover to pre-Pandemic levels and beyond.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2022, we experienced significant improvement in our business, driven primarily by leisure travel and to a lesser extent modest improvement in other demand segments, including corporate and group. The improvement was the result of a significant increase in the availability and administration of vaccines globally as well as the easing of government restrictions and guidance in most jurisdictions. We anticipate that continued improvement in operating trends will be dependent on continued strength in leisure travel and a recovery of business travel. More broadly, a return to normalized levels of operations is dependent upon a continuation in the recovery of our business, further dissipation of concerns related to the Pandemic, geopolitical stability, moderating inflation, a normalized labor market, and maintaining a high-quality portfolio aligned with evolving guest preferences.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For additional information related to the effects of the Pandemic on our business, please see our Annual Report on Form 10-K for the year ended December 31, 2021.</span></div>
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100000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div>Our Condensed Consolidated Financial Statements are prepared in conformity with GAAP, which requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions that affect reported amounts and related disclosures in our Condensed Consolidated Financial Statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could materially differ from our expectations, which could materially affect our expectations for our consolidated financial position and results of operations.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts at December 31, 2021 related to intangible assets totaling approximately $3.5 million and accumulated amortization of approximately $1.0 million have been reclassified within Investments in Hotel Properties, net to conform to the current period presentation.</span></div>
CY2022Q2 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
3550443000 usd
CY2021Q4 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
2675053000 usd
CY2022Q2 inn Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation
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651931000 usd
CY2021Q4 inn Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation
RealEstateInvestmentPropertyExcludingUndevelopedLandAccumulatedDepreciation
583080000 usd
CY2022Q2 inn Real Estate Investment Property Net Excluding Undeveloped Land
RealEstateInvestmentPropertyNetExcludingUndevelopedLand
2898512000 usd
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2091973000 usd
CY2022Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
10834000 usd
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FiniteLivedIntangibleAssetsGross
29120000 usd
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3067000 usd
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0 usd
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FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
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FiniteLivedIntangibleAssetsNet
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CY2021Q4 us-gaap Long Term Debt
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LongTermDebtPercentageBearingFixedInterestRate
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LongTermDebtPercentageBearingFixedInterestRate
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CY2022Q2 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
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CY2022Q2 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2022Q2 inn Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q2 us-gaap Operating Lease Liability
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CY2022Q2 inn Derivative Number Of Interest Rate Swap Positions In Asset Position
DerivativeNumberOfInterestRateSwapPositionsInAssetPosition
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us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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CY2021Q2 us-gaap Common Stock Shares Outstanding
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CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
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CY2022Q2 inn Redeemable Common Unit Conversion Ratio
RedeemableCommonUnitConversionRatio
1 rate
inn Number Of Joint Ventures Entered Into
NumberOfJointVenturesEnteredInto
2 room
CY2022Q2 inn Redeemable Common Unit Conversion Ratio
RedeemableCommonUnitConversionRatio
1 rate
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5840000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10900000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10883000 usd
CY2022Q2 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Remainder Of Fiscal Year
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountRemainderOfFiscalYear
2741000 usd
CY2022Q2 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year One
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearOne
4886000 usd
CY2022Q2 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Two
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearTwo
2854000 usd
CY2022Q2 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Three
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearThree
402000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6400000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
23313000 usd
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ProfitLoss
-20569000 usd
us-gaap Profit Loss
ProfitLoss
14340000 usd
us-gaap Profit Loss
ProfitLoss
-53440000 usd
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3968000 usd
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PreferredStockDividendsIncomeStatementImpact
3709000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7938000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7418000 usd
CY2022Q2 inn Preferred Dividends Paid On Performance Shares
PreferredDividendsPaidOnPerformanceShares
83000 usd
CY2021Q2 inn Preferred Dividends Paid On Performance Shares
PreferredDividendsPaidOnPerformanceShares
0 usd
inn Preferred Dividends Paid On Performance Shares
PreferredDividendsPaidOnPerformanceShares
83000 usd
inn Preferred Dividends Paid On Performance Shares
PreferredDividendsPaidOnPerformanceShares
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CY2021Q2 inn Preferred Distributions Adjustments
PreferredDistributionsAdjustments
0 usd
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PreferredDistributionsAdjustments
0 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
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104495000 shares
CY2021Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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9031000 usd
CY2021Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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105049000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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105199000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104495000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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104387000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0 shares
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0 shares
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0 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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121352000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104495000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105049000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104387000 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
inn Exercise Of Purchase Option To Complete Acquisition Of Hotel Properties
ExerciseOfPurchaseOptionToCompleteAcquisitionOfHotelProperties
2800000 usd
inn Exercise Of Purchase Option To Complete Acquisition Of Hotel Properties
ExerciseOfPurchaseOptionToCompleteAcquisitionOfHotelProperties
0 usd
us-gaap Interest Paid Net
InterestPaidNet
23395000 usd
us-gaap Interest Paid Net
InterestPaidNet
18184000 usd
inn Accrued Acquisitions Costs And Improvements To Hotel Properties
AccruedAcquisitionsCostsAndImprovementsToHotelProperties
-9381000 usd
inn Accrued Acquisitions Costs And Improvements To Hotel Properties
AccruedAcquisitionsCostsAndImprovementsToHotelProperties
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2268000 usd
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IncomeTaxesPaidNet
214000 usd
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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382205000 usd
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 usd
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
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9206000 usd
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0 usd
inn Conversion Of A Mezzanine Loan To Complete Acquisition Of Hotel Properties
ConversionOfAMezzanineLoanToCompleteAcquisitionOfHotelProperties
29875000 usd
inn Conversion Of A Mezzanine Loan To Complete Acquisition Of Hotel Properties
ConversionOfAMezzanineLoanToCompleteAcquisitionOfHotelProperties
0 usd
inn Noncontrolling Interests Issued To Complete Acquisition Of Hotel Properties
NoncontrollingInterestsIssuedToCompleteAcquisitionOfHotelProperties
6922000 usd
inn Noncontrolling Interests Issued To Complete Acquisition Of Hotel Properties
NoncontrollingInterestsIssuedToCompleteAcquisitionOfHotelProperties
0 usd
inn Noncontrolling Interests Issued To Complete Acquisition Of Properties Portfolio
NoncontrollingInterestsIssuedToCompleteAcquisitionOfPropertiesPortfolio
157513000 usd
inn Noncontrolling Interests Issued To Complete Acquisition Of Properties Portfolio
NoncontrollingInterestsIssuedToCompleteAcquisitionOfPropertiesPortfolio
0 usd
inn Redeemable Noncontrolling Interests Issued To Complete Acquisition Of Hotel Properties
RedeemableNoncontrollingInterestsIssuedToCompleteAcquisitionOfHotelProperties
50000000 usd
inn Redeemable Noncontrolling Interests Issued To Complete Acquisition Of Hotel Properties
RedeemableNoncontrollingInterestsIssuedToCompleteAcquisitionOfHotelProperties
0 usd

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