Summit Hotel Properties Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

INN$7.44+3.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets at and F-

Consolidated Balance Sheets

	December 31,
	2023	2022
ASSETS
Investments in lodging property, net	$2,729,049	$2,841,856
Investment in hotel properties under development	1,451	—
Assets held for sale, net	73,740	29,166
Cash and cash equivalents	37,837	51,255
Restricted cash	9,931	10,553
Right-of-use assets, net	34,814	35,023
Trade receivables, net	21,348	21,015
Prepaid expenses and other	8,865	8,378
Deferred charges, net	6,659	7,074
Other assets	15,554	17,950
Total assets	$2,939,248	$3,022,270
LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
Liabilities:
Debt, net of debt issuance costs	$1,430,668	$1,451,796
Lease liabilities, net	25,842	25,484
Accounts payable	4,827	5,517
Accrued expenses and other	81,215	81,304
Total liabilities	1,542,552	1,564,101
Commitments and contingencies (Note 12)
Redeemable non-controlling interests	50,219	50,219
Equity:
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized:
6.25% Series E - 6,400,000 shares issued and outstanding at December 31, 2023 and 2022 (aggregate liquidation preference of $160,861 at December 31, 2023 and 2022)	64	64
5.875% Series F - 4,000,000 shares issued and outstanding at December 31, 2023 and 2022 (aggregate liquidation preference of $100,506 at December 31, 2023 and 2022)	40	40
Common stock, $0.01 par value per share, 500,000,000 shares authorized, 107,593,373 and 106,901,576 shares issued and outstanding at December 31, 2023 and 2022 respectively	1,076	1,069
Additional paid-in capital	1,238,896	1,232,302
Accumulated other comprehensive income	10,967	14,538
Accumulated deficit and distributions in excess of retained earnings	(339,848)	(288,200)
Total stockholders’ equity	911,195	959,813
Non-controlling interests	435,282	448,137
Total equity	1,346,477	1,407,950
Total liabilities, redeemable non-controlling interests and equity	$2,939,248	$3,022,270

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.