2024 Q2 Form 10-Q Financial Statement
#000149764524000046 Filed on May 01, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $193.9M | $188.1M |
| YoY Change | -0.3% | 3.16% |
| Cost Of Revenue | $107.6M | $105.3M |
| YoY Change | -1.88% | 0.51% |
| Gross Profit | $86.32M | $82.81M |
| YoY Change | 1.73% | 6.73% |
| Gross Profit Margin | 44.52% | 44.01% |
| Selling, General & Admin | $21.99M | $22.60M |
| YoY Change | -5.68% | -0.59% |
| % of Gross Profit | 25.48% | 27.29% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $36.46M | $36.80M |
| YoY Change | -2.8% | -0.3% |
| % of Gross Profit | 42.24% | 44.44% |
| Operating Expenses | $58.45M | $59.39M |
| YoY Change | -3.91% | 0.01% |
| Operating Profit | $56.21M | $23.49M |
| YoY Change | 134.02% | 29.05% |
| Interest Expense | -$20.27M | $21.58M |
| YoY Change | -8.91% | 3.22% |
| % of Operating Profit | -36.05% | 91.88% |
| Other Income/Expense, Net | -$15.14M | -$20.44M |
| YoY Change | -3188.98% | -0.99% |
| Pretax Income | $41.07M | $3.050M |
| YoY Change | 2343.37% | -224.9% |
| Income Tax | $2.400M | $200.0K |
| % Of Pretax Income | 5.84% | 6.56% |
| Net Earnings | $38.70M | $2.833M |
| YoY Change | -5239.18% | -243.81% |
| Net Earnings / Revenue | 19.96% | 1.51% |
| Basic Earnings Per Share | $0.29 | -$0.02 |
| Diluted Earnings Per Share | $0.23 | -$0.02 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 108.2M shares | 107.6M shares |
| Diluted Shares Outstanding | 149.5M shares | 105.7M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $45.87M | $63.44M |
| YoY Change | -21.53% | 4.54% |
| Cash & Equivalents | $45.87M | $63.44M |
| Short-Term Investments | ||
| Other Short-Term Assets | $14.14M | $17.18M |
| YoY Change | -9.58% | -11.19% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $27.97M | $27.99M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $87.98M | $108.6M |
| YoY Change | -8.55% | 4.33% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $2.736B | $2.749B |
| YoY Change | -5.39% | -2.25% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | $28.64M | $29.67M |
| YoY Change | -12.23% | |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $22.84M | $79.43M |
| YoY Change | 10.42% | -18.33% |
| Total Long-Term Assets | $2.783B | $2.852B |
| YoY Change | -5.25% | -2.46% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $87.98M | $108.6M |
| Total Long-Term Assets | $2.783B | $2.852B |
| Total Assets | $2.871B | $2.961B |
| YoY Change | -5.35% | -2.23% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $6.637M | $7.303M |
| YoY Change | 21.14% | 33.75% |
| Accrued Expenses | $109.6M | $107.1M |
| YoY Change | -4.85% | -5.03% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $116.2M | $114.4M |
| YoY Change | -3.67% | -3.24% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $1.345B | $1.452B |
| YoY Change | -7.26% | -1.03% |
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $1.345B | $1.452B |
| YoY Change | -7.26% | -1.03% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $116.2M | $114.4M |
| Total Long-Term Liabilities | $1.345B | $1.452B |
| Total Liabilities | $1.462B | $1.566B |
| YoY Change | -29.88% | -1.2% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$326.1M | -$348.3M |
| YoY Change | 17.0% | |
| Common Stock | $1.083M | $1.082M |
| YoY Change | 0.65% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $931.9M | $907.8M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $2.871B | $2.961B |
| YoY Change | -5.35% | -2.23% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $38.70M | $2.833M |
| YoY Change | -5239.18% | -243.81% |
| Depreciation, Depletion And Amortization | $36.46M | $36.80M |
| YoY Change | -2.8% | -0.3% |
| Cash From Operating Activities | $50.32M | $28.15M |
| YoY Change | 6.97% | -12.05% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | |
| YoY Change | -100.0% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $60.64M | -$9.986M |
| YoY Change | 709.56% | -60.7% |
| Cash From Investing Activities | $60.64M | -$9.986M |
| YoY Change | -271.69% | -60.7% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -130.7M | $6.419M |
| YoY Change | 893.92% | 87.42% |
| NET CHANGE | ||
| Cash From Operating Activities | 50.32M | $28.15M |
| Cash From Investing Activities | 60.64M | -$9.986M |
| Cash From Financing Activities | -130.7M | $6.419M |
| Net Change In Cash | -19.71M | $24.58M |
| YoY Change | 1286.22% | 145.27% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $50.32M | $28.15M |
| Capital Expenditures | $0.00 | |
| Free Cash Flow | $50.32M | |
| YoY Change | 1088.31% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Revenues
Revenues
|
188142000 | usd |
| CY2023Q1 | us-gaap |
Revenues
Revenues
|
182383000 | usd |
| CY2024Q1 | us-gaap |
Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
|
14285000 | usd |
| CY2023Q1 | us-gaap |
Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
|
14724000 | usd |
| CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
36799000 | usd |
| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
36908000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
8311000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
8005000 | usd |
| CY2024Q1 | inn |
Recoveries Of Credit Losses
RecoveriesOfCreditLosses
|
0 | usd |
| CY2023Q1 | inn |
Recoveries Of Credit Losses
RecoveriesOfCreditLosses
|
250000 | usd |
| CY2024Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
164728000 | usd |
| CY2023Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
164181000 | usd |
| CY2024Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
75000 | usd |
| CY2023Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | usd |
| CY2024Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
23489000 | usd |
| CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
18202000 | usd |
| CY2024Q1 | us-gaap |
Interest Expense
InterestExpense
|
21582000 | usd |
| CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
20909000 | usd |
| CY2024Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
458000 | usd |
| CY2023Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
306000 | usd |
| CY2024Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
685000 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-41000 | usd |
| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
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| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
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| CY2024Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
3050000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2442000 | usd |
| CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
217000 | usd |
| CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-472000 | usd |
| CY2024Q1 | inn |
Net Income Loss Available To Common Stockholders Before Amounts Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersBeforeAmountsAllocatedToParticipatingSecurities
|
2833000 | usd |
| CY2023Q1 | inn |
Net Income Loss Available To Common Stockholders Before Amounts Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersBeforeAmountsAllocatedToParticipatingSecurities
|
-1970000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
322000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-1369000 | usd |
| CY2024Q1 | inn |
Net Income Loss Available To Common Stockholders Before Preferred Stock Dividends
NetIncomeLossAvailableToCommonStockholdersBeforePreferredStockDividends
|
2511000 | usd |
| CY2023Q1 | inn |
Net Income Loss Available To Common Stockholders Before Preferred Stock Dividends
NetIncomeLossAvailableToCommonStockholdersBeforePreferredStockDividends
|
-601000 | usd |
| CY2024Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2024Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2023Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2023Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2024Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3970000 | usd |
| CY2023Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3970000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
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| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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| CY2024Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
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| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
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| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.02 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.05 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.05 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
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| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
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| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
105312000 | shares |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2833000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1970000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
5696000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
-4388000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
8529000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
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| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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2016000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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| CY2024Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2024Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2023Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2023Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
657000 | usd |
| CY2024Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3970000 | usd |
| CY2023Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
3970000 | usd |
| CY2024Q1 | inn |
Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
|
1886000 | usd |
| CY2023Q1 | inn |
Comprehensive Income Loss Available To Common Stockholders
ComprehensiveIncomeLossAvailableToCommonStockholders
|
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| CY2023Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
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| CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
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| CY2024Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
657000 | usd |
| CY2024Q1 | inn |
Stockholders Equity Accretion To Redemption Value Adjustment
StockholdersEquityAccretionToRedemptionValueAdjustment
|
657000 | usd |
| CY2024Q1 | inn |
Noncontrolling Interest Increase From Cash Contribution
NoncontrollingInterestIncreaseFromCashContribution
|
76000 | usd |
| CY2024Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
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| CY2024Q1 | us-gaap |
Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
|
657000 | usd |
| CY2024Q1 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
3970000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1848000 | usd |
| CY2024Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
833000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
5696000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2833000 | usd |
| CY2024Q1 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
50219000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1344176000 | usd |
| CY2022Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
50219000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1407950000 | usd |
| CY2023Q1 | us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
657000 | usd |
| CY2023Q1 | inn |
Stockholders Equity Accretion To Redemption Value Adjustment
StockholdersEquityAccretionToRedemptionValueAdjustment
|
657000 | usd |
| CY2023Q1 | us-gaap |
Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
|
1353000 | usd |
| CY2023Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
4898000 | usd |
| CY2023Q1 | us-gaap |
Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
|
657000 | usd |
| CY2023Q1 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
3970000 | usd |
| CY2023Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
790000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1468000 | usd |
| CY2023Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
1283000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity Other
StockholdersEquityOther
|
168000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
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| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1970000 | usd |
| CY2023Q1 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
50219000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1392647000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
2833000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1970000 | usd |
| CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
36799000 | usd |
| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
36908000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1399000 | usd |
| CY2024Q1 | inn |
Recoveries Of Credit Losses
RecoveriesOfCreditLosses
|
0 | usd |
| CY2023Q1 | inn |
Recoveries Of Credit Losses
RecoveriesOfCreditLosses
|
250000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1848000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1468000 | usd |
| CY2024Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
75000 | usd |
| CY2023Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | usd |
| CY2024Q1 | inn |
Noncash Interest Income
NoncashInterestIncome
|
133000 | usd |
| CY2023Q1 | inn |
Noncash Interest Income
NoncashInterestIncome
|
143000 | usd |
| CY2024Q1 | inn |
Debt Transaction Costs
DebtTransactionCosts
|
564000 | usd |
| CY2023Q1 | inn |
Debt Transaction Costs
DebtTransactionCosts
|
87000 | usd |
| CY2024Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-60000 | usd |
| CY2023Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-285000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
6637000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
3055000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
8318000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-388000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2059000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-38000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-2469000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-3073000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
28150000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
32006000 | usd |
| CY2024Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
18116000 | usd |
| CY2023Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
24088000 | usd |
| CY2024Q1 | inn |
Investment In Hotel Properties Under Development
InvestmentInHotelPropertiesUnderDevelopment
|
913000 | usd |
| CY2023Q1 | inn |
Investment In Hotel Properties Under Development
InvestmentInHotelPropertiesUnderDevelopment
|
0 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
9043000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
|
1320000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-9986000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-25408000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
60000000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
25000000 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
5000000 | usd |
| CY2023Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
10000000 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
33490000 | usd |
| CY2023Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
692000 | usd |
| CY2024Q1 | inn |
Proceeds From Sale Of Non Controlling Interests
ProceedsFromSaleOfNonControllingInterests
|
0 | usd |
| CY2023Q1 | inn |
Proceeds From Sale Of Non Controlling Interests
ProceedsFromSaleOfNonControllingInterests
|
1353000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
7349000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
4904000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
4627000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
4627000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
|
76000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
|
790000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
2358000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
632000 | usd |
| CY2024Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
833000 | usd |
| CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1283000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6419000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3425000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
24583000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
10023000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
47768000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
61808000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
72351000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71831000 | usd |
| CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
63435000 | usd |
| CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
60678000 | usd |
| CY2024Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
8916000 | usd |
| CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
11153000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
72351000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
71831000 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
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 lodging property 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 lodging properties with efficient operating models that generate strong margins and investment returns. At March 31, 2024, our portfolio consisted of 99 lodging properties with a total of 14,785 guestrooms located in 24 states. At March 31, 2024, we own 100% of the outstanding equity interests in 56 of our 99 lodging properties. We own a 51% controlling interest in 40 lodging properties through a joint venture that was formed in July 2019 with USFI G-Peak, Ltd. ("GIC"), a private limited company incorporated in the Republic of Singapore (the "GIC Joint Venture"). We also own 90% equity interests in two separate joint ventures (the "Brickell Joint Venture" and the "Onera Joint Venture"). The Brickell Joint Venture owns two lodging properties, and the Onera Joint Venture owns one lodging property. </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%">As of March 31, 2024, 85% of our guestrooms were located in the top 50 metropolitan statistical areas (“MSAs”), 90% were located within the top 100 MSAs and over 99% of our guestrooms operated under premium franchise brands owned by Marriott® International, Inc. (“Marriott”), Hilton® Worldwide (“Hilton”), Hyatt® Hotels Corporation (“Hyatt”), and InterContinental® Hotels Group (“IHG”). </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%">Substantially all of our assets are held by, and all of our operations are conducted through, the Operating Partnership. Through a wholly-owned subsidiary, we are the sole general partner of the Operating Partnership. At March 31, 2024, we owned, directly and indirectly, approximately 87% of the Operating Partnership’s issued and outstanding common units of limited partnership interest (“Common Units”), and all of the Operating Partnership’s issued and outstanding 6.25% Series E and 5.875% Series F preferred units of limited partnership interest. NewcrestImage (as defined in </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 4 - Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to the Condensed Consolidated Financial Statements) owns all of the issued and outstanding 5.25% Series Z Cumulative Perpetual Preferred Units (liquidation preference $25 per unit) of the Operating Partnership ("Series Z Preferred Units"), as a result of the NCI Transaction (described in </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 4 - Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> to the Condensed Consolidated Financial Statements). We collectively refer to preferred units of limited partnership interests of our Operating Partnership as "Preferred Units".</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%">Pursuant to the Operating Partnership’s partnership agreement, we have full, exclusive and complete responsibility and discretion in the management and control of the Operating Partnership, including the ability to cause the Operating Partnership to enter into certain major transactions including acquisitions, dispositions and refinancings, to make distributions to partners and to cause changes in the Operating Partnership’s business activities.</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:112%">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 lodging properties. Accordingly, all of our lodging properties are leased to our taxable REIT subsidiaries (“TRS Lessees” or "TRSs") and managed by professional third-party management companies.</span></div> | |
| CY2024Q1 | us-gaap |
Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
|
24 | state |
| CY2024Q1 | inn |
Number Of Separate Joint Ventures
NumberOfSeparateJointVentures
|
2 | jointventure |
| CY2024Q1 | inn |
Percentage Of Guestrooms Located In Top50 Metropolitan Statistical Areas
PercentageOfGuestroomsLocatedInTop50MetropolitanStatisticalAreas
|
0.85 | |
| CY2024Q1 | inn |
Percentage Of Guestrooms Located In Top100 Metropolitan Statistical Areas
PercentageOfGuestroomsLocatedInTop100MetropolitanStatisticalAreas
|
0.90 | |
| CY2024Q1 | inn |
Percentage Of Guestrooms Operated Under Premium Franchise Brands
PercentageOfGuestroomsOperatedUnderPremiumFranchiseBrands
|
0.99 | |
| CY2024Q1 | 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><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 significantly differ from our expectations, which could materially affect our consolidated financial position and results of operations.</span></div> | |
| CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
100000 | usd |
| CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
100000 | usd |
| CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
100000 | usd |
| CY2024Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
100000 | usd |
| CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
| CY2024Q1 | inn |
Investment In Lodging Property At Cost Excluding Undeveloped Land
InvestmentInLodgingPropertyAtCostExcludingUndevelopedLand
|
3535942000 | usd |
| CY2023Q4 | inn |
Investment In Lodging Property At Cost Excluding Undeveloped Land
InvestmentInLodgingPropertyAtCostExcludingUndevelopedLand
|
3513347000 | usd |
| CY2024Q1 | inn |
Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyExcludingUndevelopedLandAccumulatedDepreciationAndAmortization
|
820933000 | usd |
| CY2023Q4 | inn |
Real Estate Investment Property Excluding Undeveloped Land Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyExcludingUndevelopedLandAccumulatedDepreciationAndAmortization
|
784298000 | usd |
| CY2024Q1 | inn |
Lodging Property Investment Net Excluding Undeveloped Land
LodgingPropertyInvestmentNetExcludingUndevelopedLand
|
2715009000 | usd |
| CY2023Q4 | inn |
Lodging Property Investment Net Excluding Undeveloped Land
LodgingPropertyInvestmentNetExcludingUndevelopedLand
|
2729049000 | usd |
| CY2024Q1 | inn |
Sale Of Investment Property Number Of Guestrooms Sold
SaleOfInvestmentPropertyNumberOfGuestroomsSold
|
127 | room |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
10300000 | usd |
| CY2024Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
10834000 | usd |
| CY2023Q4 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
10834000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
29120000 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
29120000 | usd |
| CY2024Q1 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
39954000 | usd |
| CY2023Q4 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
39954000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
10283000 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
9251000 | usd |
| CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
29671000 | usd |
| CY2023Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
30703000 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1000000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1000000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
3486000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
1564000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
1564000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
1374000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
1016000 | usd |
| CY2024Q1 | inn |
Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
|
9833000 | usd |
| CY2023Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1445839000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
18837000 | usd |
| CY2024Q1 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.0535 | |
| CY2023Q4 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.0531 | |
| CY2024Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1467349000 | usd |
| CY2023Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1445839000 | usd |
| CY2024Q1 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
15347000 | usd |
| CY2023Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
15171000 | usd |
| CY2024Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
1452002000 | usd |
| CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
1430668000 | usd |
| CY2024Q1 | us-gaap |
Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
|
955970000 | usd |
| CY2024Q1 | us-gaap |
Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
|
0.65 | |
| CY2023Q4 | us-gaap |
Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
|
956414000 | usd |
| CY2023Q4 | us-gaap |
Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
|
0.66 | |
| CY2024Q1 | us-gaap |
Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
|
511379000 | usd |
| CY2024Q1 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
0.35 | |
| CY2023Q4 | us-gaap |
Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
|
489425000 | usd |
| CY2023Q4 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
0.34 | |
| CY2024Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1467349000 | usd |
| CY2023Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1445839000 | usd |
| CY2024Q1 | inn |
Mortgage Loans On Real Estate Number Of Real Estate Properties Encumbered
MortgageLoansOnRealEstateNumberOfRealEstatePropertiesEncumbered
|
8 | property |
| CY2024Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1467349000 | usd |
| CY2024Q1 | inn |
Number Of Promissory Notes
NumberOfPromissoryNotes
|
2 | instrument |
| CY2021Q1 | us-gaap |
Share Price
SharePrice
|
8.72 | |
| CY2024Q1 | inn |
Mortgage Loans On Real Estate Number Of Real Estate Properties Encumbered
MortgageLoansOnRealEstateNumberOfRealEstatePropertiesEncumbered
|
8 | property |
| CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P32Y2M12D | |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P32Y2M12D | |
| CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.048 | |
| CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.048 | |
| CY2024Q1 | us-gaap |
Rental Income Nonoperating
RentalIncomeNonoperating
|
800000 | usd |
| CY2023Q1 | us-gaap |
Rental Income Nonoperating
RentalIncomeNonoperating
|
700000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1200000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1100000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1100000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1000000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
1678000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
2251000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
2205000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
2247000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
2090000 | usd |
| CY2024Q1 | inn |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
35803000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
46274000 | usd |
| CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
20861000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
25413000 | usd |
| CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
| CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2024Q1 | inn |
Common Stock Voting Rights Number
CommonStockVotingRightsNumber
|
1 | vote |
| CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
107593373 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
106901576 | shares |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
|
1055544 | shares |
| CY2023Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
|
873563 | shares |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
323930 | shares |
| CY2023Q1 | us-gaap |
Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
|
137193 | shares |
| CY2024Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
126846 | shares |
| CY2023Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
168083 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
108198141 | shares |
| CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
107469863 | shares |
| CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
100000000 | shares |
| CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
100000000 | shares |
| CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2024Q1 | us-gaap |
Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
|
25 | |
| CY2024Q1 | inn |
Number Of Joint Ventures Entered Into
NumberOfJointVenturesEnteredInto
|
3 | jointventure |
| CY2024Q1 | inn |
Redeemable Common Unit Conversion Ratio
RedeemableCommonUnitConversionRatio
|
1 | rate |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
14400000 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
14409000 | usd |
| CY2024Q1 | inn |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Remainder Of Fiscal Year
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountRemainderOfFiscalYear
|
5608000 | usd |
| CY2024Q1 | inn |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year One
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearOne
|
5435000 | usd |
| CY2024Q1 | inn |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Two
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearTwo
|
2917000 | usd |
| CY2024Q1 | inn |
Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Three
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearThree
|
449000 | usd |
| CY2024Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
200000 | usd |
| CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-500000 | usd |
| CY2024Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
24142000 | usd |
| CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
21436000 | usd |
| CY2024Q1 | inn |
Insurance Premium Financing
InsurancePremiumFinancing
|
0 | usd |
| CY2023Q1 | inn |
Insurance Premium Financing
InsurancePremiumFinancing
|
10877000 | usd |
| CY2024Q1 | inn |
Accrued Acquisitions Costs And Improvements To Hotel Properties
AccruedAcquisitionsCostsAndImprovementsToHotelProperties
|
8685000 | usd |
| CY2023Q1 | inn |
Accrued Acquisitions Costs And Improvements To Hotel Properties
AccruedAcquisitionsCostsAndImprovementsToHotelProperties
|
5384000 | usd |
| CY2024Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
41000 | usd |
| CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
110000 | usd |
| CY2024Q1 | inn |
Accrued And Unpaid Dividends
AccruedAndUnpaidDividends
|
213000 | usd |
| CY2023Q1 | inn |
Accrued And Unpaid Dividends
AccruedAndUnpaidDividends
|
0 | usd |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
