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Selected Quarterly Financial Data (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2012
Selected Consolidated Quarterly Financial Data
Selected consolidated quarterly financial data for 2012 and 2011 follows (in thousands, except per share):
 
   
2012
       
   
Summit Hotel Properties, Inc.
       
   
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
     
                               
Total revenues
  $ 40,102     $ 47,213     $ 50,804     $ 51,423        
                                       
Net income (loss) from continuing operations
  $ (1,609 )   $ 444     $ 1,033     $ (3,495 )      
Net income (loss) from discontinued operations
  $ (1,196 )   $ (801 )   $ 608     $ 2,746        
Net income (loss) attributable to common stockholders
  $ (2,891 )   $ (1,238 )   $ 406     $ (1,978 )      
                                       
Earnings per share - basic and diluted:
                                     
Net income (loss) from continuing operations
  $ (0.08 )   $ (0.01 )   $ 0.01     $ (0.12 )      
Net income (loss) from discontinued operations
    (0.03 )     (0.03 )     -       0.09        
Net income (loss) attributable to common stockholders
  $ (0.11 )   $ (0.04 )   $ 0.01     $ (0.03 )      
                                       
      2011  
   
Predecessor
 
Summit Hotel Properties, Inc.
 
   
Period 1/1 through 2/13
 
Period 2/14 through 3/31
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
                                       
Total revenues
  $ 14,142     $ 18,105     $ 36,815     $ 40,033     $ 33,568  
                                         
Net income (loss) from continuing operations
  $ (5,784 )   $ (1,683 )   $ 474     $ (941 )   $ (2,956 )
Net income (loss) from discontinued operations
  $ (423 )   $ 69     $ 130     $ 982     $ (252 )
Net income (loss) attributable to common stockholders
  $ (6,207 )   $ (1,178 )   $ 441     $ 30     $ (2,641 )
                                         
Earnings per share - basic and diluted:
                                       
Net income (loss) from continuing operations
    $ (0.04 )   $ 0.01     $ (0.01 )   $ (0.12 )
Net income (loss) from discontinued operations
      -       0.01       0.01       0.02  
Net income (loss) attributable to common stockholders
  $ (0.04 )   $ 0.02     $ -     $ (0.10 )
 
Summit Hotel OP, LP
Selected consolidated quarterly financial data for 2012 and 2011 follows (in thousands, except per unit):

   
2012
       
   
Summit OP, LP
       
   
First Quarter
 
Second Quarter
 
Third Quarter
   
Fourth Quarter
       
                               
Total revenues
  $ 40,102     $ 47,213     $ 50,804     $ 51,423        
                                       
Net income (loss) from continuing operations
  $ (1,609 )   $ 444     $ 1,033     $ (3,495 )      
Net income (loss) from discontinued operations
  $ (1,196 )   $ (801 )   $ 608     $ 2,746        
Net income (loss) attributable to common unit holders
  $ (3,961 )   $ (1,513 )   $ 485     $ (1,906 )      
                                       
Earnings per unit - basic and diluted:
                                     
Net income (loss) from continuing operations
  $ (0.08 )   $ (0.01 )   $ 0.01     $ (0.12 )      
Net income (loss) from discontinued operations
    (0.03 )     (0.03 )     -       0.09        
Net income (loss) attributable to common unit holders
  $ (0.11 )   $ (0.04 )   $ 0.01     $ (0.03 )      
                                       
      2011  
   
Predecessor
   
Summit OP, LP
 
   
Period 1/1 through 2/13
 
Period 2/14 through 3/31
 
Second Quarter
 
Third Quarter
   
Fourth Quarter
 
                                       
Total revenues
  $ 14,142     $ 18,105     $ 36,815     $ 40,033     $ 33,568  
                                         
Net income (loss) from continuing operations
  $ (5,784 )   $ (1,683 )   $ 474     $ (941 )   $ (2,956 )
Net income (loss) from discontinued operations
  $ (423 )   $ 69     $ 130     $ 982     $ (252 )
Net income (loss) attributable to common unit holders
  $ (6,207 )   $ (1,614 )   $ 604     $ 41     $ (3,619 )
                                         
Earnings per unit - basic and diluted:
                                       
Net income (loss) from continuing operations
          $ (0.04 )   $ 0.01     $ (0.01 )   $ (0.11 )
Net income (loss) from discontinued operations
          $ -     $ 0.01     $ 0.01     $ 0.01  
Net income (loss) attributable to common unit holders
          $ (0.04 )   $ 0.02     $ -     $ (0.10 )