Summit Hotel Properties Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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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Schedule III - Real Estate and Accumulated Depreciation F-
| Initial Cost · Costs Subsequent · Gross Amount at December 31, 2024 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description · Mortgage Debt/Encumbrances · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Buildings,Improvements and Furniture, Fixtures and Equipment · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Total · Accumulated Depreciation · DateAcquired | ||||||||||||||||||
| Aliso Viejo, CA - Homewood Suites | $— | $5,599 | $32,367 | $1,067 | $5,599 | $33,434 | $39,033 | $(10,476) | 2017 | |||||||||
| Amarillo, TX - Courtyard | — | 269 | 18,561 | 999 | 269 | 19,560 | 19,829 | (3,972) | 2022 | |||||||||
| Amarillo, TX - Embassy Suites | — | (2) | 657 | 38,456 | 1,128 | 657 | 39,584 | 40,241 | (8,033) | 2022 | ||||||||
| Arlington, TX - Courtyard | — | 1,497 | 15,573 | 697 | 1,497 | 16,270 | 17,767 | (6,572) | 2012 | |||||||||
| Arlington, TX - Residence Inn | — | 1,646 | 15,440 | 1,418 | 1,646 | 16,858 | 18,504 | (6,686) | 2012 | |||||||||
| Asheville, NC - Hotel Indigo | — | 2,100 | 34,755 | 7,686 | 2,100 | 42,441 | 44,541 | (12,093) | 2015 | |||||||||
| Atlanta, GA - AC Hotel | — | 5,670 | 51,922 | 3,298 | 5,670 | 55,220 | 60,890 | (15,523) | 2017 | |||||||||
| Atlanta, GA - Courtyard | — | 2,050 | 27,969 | 3,837 | 2,050 | 31,806 | 33,856 | (12,749) | 2012 | |||||||||
| Atlanta, GA - Residence Inn | — | (3) | 3,381 | 34,820 | 5,742 | 3,381 | 40,562 | 43,943 | (10,139) | 2016 | ||||||||
| Austin, TX - Hampton Inn & Suites | — | (2) | — | 56,394 | 6,883 | — | 63,277 | 63,277 | (20,601) | 2014 | ||||||||
| Baltimore, MD - Hampton Inn & Suites | — | 2,205 | 16,013 | 6,412 | 2,205 | 22,425 | 24,630 | (8,243) | 2017 | |||||||||
| Baltimore, MD - Residence Inn | — | 1,986 | 37,016 | 7,917 | 1,986 | 44,933 | 46,919 | (15,652) | 2017 | |||||||||
| Boulder, CO - Marriott | — | 11,115 | 49,204 | 14,751 | 11,115 | 63,955 | 75,070 | (21,224) | 2016 | |||||||||
| Branchburg, NJ - Residence Inn | — | (3) | 2,374 | 24,411 | (10,552) | 2,374 | 13,859 | 16,233 | (8,259) | 2015 | ||||||||
| Brisbane, CA - DoubleTree | — | 3,300 | 39,686 | 2,366 | 3,300 | 42,052 | 45,352 | (20,771) | 2014 | |||||||||
| Camarillo, CA - Hampton Inn & Suites | — | 2,200 | 17,366 | 1,234 | 2,200 | 18,600 | 20,800 | (9,438) | 2013 | |||||||||
| Charlotte, NC - Courtyard | — | — | 41,094 | 6,490 | — | 47,584 | 47,584 | (13,452) | 2017 | |||||||||
| Chicago, IL - Hyatt Place | — | 5,395 | 68,355 | 1,074 | 5,395 | 69,429 | 74,824 | (20,710) | 2016 | |||||||||
| Cleveland, OH - Residence Inn | — | 10,075 | 33,340 | 4,489 | 10,075 | 37,829 | 47,904 | (12,049) | 2017 | |||||||||
| Dallas, TX - AC Hotel | — | 1,330 | 31,379 | (2,950) | 1,330 | 28,429 | 29,759 | (4,766) | 2022 | |||||||||
| Dallas, TX - Hampton Inn & Suites | — | 1,834 | 47,069 | 1,453 | 1,834 | 48,522 | 50,356 | (6,358) | 2022 | |||||||||
| Dallas, TX - Parking Garage | — | 3,131 | 9,252 | (1,310) | 3,131 | 7,942 | 11,073 | (717) | 2022 | |||||||||
| Dallas, TX - Residence Inn | — | 1,372 | 32,351 | (2,379) | 1,372 | 29,972 | 31,344 | (4,947) | 2022 | |||||||||
| Dallas, TX - SpringHill Suites | — | 2,447 | 23,746 | 7,213 | 2,447 | 30,959 | 33,406 | (3,558) | 2022 | |||||||||
| Decatur, GA - Courtyard | — | 4,046 | 34,151 | 4,858 | 4,046 | 39,009 | 43,055 | (13,459) | 2015 | |||||||||
| Englewood, CO - Hyatt House | — | 2,700 | 16,267 | 3,440 | 2,700 | 19,707 | 22,407 | (7,050) | 2012 | |||||||||
| Englewood, CO - Hyatt Place | — | 2,000 | 11,950 | 5,707 | 2,000 | 17,657 | 19,657 | (6,528) | 2012 | |||||||||
| Fort Lauderdale, FL - Courtyard | — | 37,950 | 47,002 | 22,880 | 37,950 | 69,882 | 107,832 | (12,948) | 2017 | |||||||||
| Fort Lauderdale, FL - New Builds | — | — | — | 3,065 | — | 3,065 | 3,065 | — | 2017 | |||||||||
| Fort Worth, TX - Courtyard | — | 1,920 | 38,070 | 11,354 | 1,920 | 49,424 | 51,344 | (17,720) | 2017 | |||||||||
| Fredericksburg, TX - Onera Escapes | — | 1,251 | 5,209 | 2,146 | 1,013 | 7,593 | 8,606 | (886) | 2022 | |||||||||
| Frisco, TX - AC Hotel | — | 1,246 | 38,390 | 259 | 1,246 | 38,649 | 39,895 | (6,416) | 2022 | |||||||||
| Frisco, TX - Canopy Hotel | — | 1,109 | 38,531 | 193 | 1,109 | 38,724 | 39,833 | (5,817) | 2022 | |||||||||
| Frisco, TX - Parking Garage | — | 2,470 | 6,563 | 20 | 2,470 | 6,583 | 9,053 | (537) | 2022 | |||||||||
| Frisco, TX - Residence Inn | — | 1,246 | 38,390 | 199 | 1,246 | 38,589 | 39,835 | (6,306) | 2022 | |||||||||
| Garden City, NY - Hyatt Place | — | 4,200 | 27,775 | 878 | 4,282 | 28,571 | 32,853 | (10,015) | 2012 | |||||||||
| Glendale, CO - Staybridge Suites | — | 2,100 | 10,151 | 8,093 | 2,100 | 18,244 | 20,344 | (6,153) | 2011 | |||||||||
| Initial Cost · Costs Subsequent · Gross Amount at December 31, 2024 | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description · Mortgage Debt/Encumbrances · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Buildings,Improvements and Furniture, Fixtures and Equipment · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Total · Accumulated Depreciation · DateAcquired | ||||||||||||||||||
| Grapevine, TX - Courtyard | — | 2,542 | 34,872 | 6,277 | 2,542 | 41,149 | 43,691 | (6,186) | 2022 | |||||||||
| Grapevine, TX - Hilton Garden Inn | 5,884 | 986 | 33,137 | 179 | 986 | 33,316 | 34,302 | (5,383) | 2022 | |||||||||
| Grapevine, TX - Holiday Inn Express & Suites | — | 1,419 | 13,810 | 1,027 | 1,419 | 14,837 | 16,256 | (2,840) | 2022 | |||||||||
| Grapevine, TX - Hyatt Place | — | 1,318 | 18,740 | 1,055 | 1,318 | 19,795 | 21,113 | (3,611) | 2022 | |||||||||
| Grapevine, TX - TownePlace Suites | — | 1,686 | 23,119 | 437 | 1,686 | 23,556 | 25,242 | (4,680) | 2022 | |||||||||
| Greenville, SC - Hilton Garden Inn | — | 1,200 | 14,566 | 3,503 | 1,200 | 18,069 | 19,269 | (8,699) | 2013 | |||||||||
| Hillsboro, OR - Residence Inn | — | 4,943 | 42,541 | 7,067 | 4,943 | 49,608 | 54,551 | (8,829) | 2019 | |||||||||
| Houston, TX - AC Hotel | — | 4,796 | 52,268 | 1,670 | 4,796 | 53,938 | 58,734 | (7,694) | 2022 | |||||||||
| Houston, TX - Hilton Garden Inn | — | (2) | — | 41,838 | 5,282 | — | 47,120 | 47,120 | (19,195) | 2014 | ||||||||
| Houston, TX - Hilton Garden Inn | — | 2,800 | 33,777 | 8,886 | 2,800 | 42,663 | 45,463 | (13,106) | 2014 | |||||||||
| Hunt Valley, MD - Residence Inn | — | — | 35,436 | 3,324 | 1,076 | 37,684 | 38,760 | (12,058) | 2015 | |||||||||
| Indianapolis, IN - Courtyard | — | 7,788 | 54,384 | (977) | 7,788 | 53,407 | 61,195 | (19,349) | 2013 | |||||||||
| Indianapolis, IN - SpringHill Suites | — | 4,012 | 27,910 | (159) | 4,012 | 27,751 | 31,763 | (10,372) | 2013 | |||||||||
| Kansas City, MO - Courtyard | — | (3) | 3,955 | 20,608 | (1,065) | 3,955 | 19,543 | 23,498 | (7,039) | 2017 | ||||||||
| Lone Tree, CO - Hyatt Place | — | 1,300 | 11,704 | 5,712 | 1,314 | 17,402 | 18,716 | (6,267) | 2012 | |||||||||
| Longview, TX - Hilton Garden Inn | — | 1,284 | 13,281 | 2,077 | 1,284 | 15,358 | 16,642 | (2,447) | 2022 | |||||||||
| Louisville, KY - Fairfield Inn & Suites | — | 3,120 | 24,231 | 628 | 3,120 | 24,859 | 27,979 | (9,652) | 2013 | |||||||||
| Louisville, KY - SpringHill Suites | — | 4,880 | 37,361 | 898 | 4,880 | 38,259 | 43,139 | (15,108) | 2013 | |||||||||
| Lubbock, TX - Hyatt Place | — | 896 | 20,182 | 984 | 896 | 21,166 | 22,062 | (3,640) | 2022 | |||||||||
| Mesa, AZ - Hyatt Place | — | 2,400 | 19,848 | 2,337 | 2,400 | 22,185 | 24,585 | (7,537) | 2017 | |||||||||
| Metairie, LA - Courtyard | — | 1,860 | 25,168 | 8,838 | 1,860 | 34,006 | 35,866 | (13,331) | 2013 | |||||||||
| Metairie, LA - Residence Inn | — | 1,791 | 23,386 | 1,119 | 1,791 | 24,505 | 26,296 | (13,698) | 2013 | |||||||||
| Miami, FL - AC Hotel | 46,060 | (1) | 8,496 | 46,839 | 465 | 8,496 | 47,304 | 55,800 | (5,409) | 2022 | ||||||||
| Miami, FL - Element | 46,060 | (1) | 5,882 | 32,427 | 741 | 5,882 | 33,168 | 39,050 | (3,865) | 2022 | ||||||||
| Miami, FL - Hyatt House | — | 4,926 | 40,087 | 3,375 | 4,926 | 43,462 | 48,388 | (18,025) | 2015 | |||||||||
| Miami, FL - Sky Lounge | — | — | 1,473 | 182 | — | 1,655 | 1,655 | (372) | 2022 | |||||||||
| Midland, TX - Homewood Suites | — | 1,717 | 22,326 | 1,285 | 1,717 | 23,611 | 25,328 | (4,243) | 2022 | |||||||||
| Milpitas, CA - Hilton Garden Inn | — | (3) | 7,921 | 46,141 | (33) | 7,921 | 46,108 | 54,029 | (8,933) | 2019 | ||||||||
| Minneapolis, MN - Hampton Inn & Suites | — | 3,502 | 35,433 | 1,013 | 3,502 | 36,446 | 39,948 | (12,956) | 2015 | |||||||||
| Minneapolis, MN - Hyatt Place | — | — | 34,026 | 2,846 | — | 36,872 | 36,872 | (13,266) | 2013 | |||||||||
| Nashville, TN - Courtyard | — | 8,792 | 62,759 | 8,743 | 8,792 | 71,502 | 80,294 | (22,959) | 2016 | |||||||||
| Nashville, TN - SpringHill Suites | — | 777 | 5,598 | 2,040 | 777 | 7,638 | 8,415 | (3,645) | 2004 | |||||||||
| New Haven, CT - Courtyard | — | 11,990 | 51,497 | 11,207 | 11,990 | 62,704 | 74,694 | (12,451) | 2017 | |||||||||
| New Orleans, LA - Canopy Hotel | — | (2) | 4,262 | 51,406 | 489 | 4,262 | 51,895 | 56,157 | (7,235) | 2022 | ||||||||
| New Orleans, LA - Courtyard | — | 1,944 | 25,120 | 4,738 | 1,944 | 29,858 | 31,802 | (17,121) | 2013 | |||||||||
| New Orleans, LA - SpringHill Suites | — | 963 | 12,763 | 321 | 963 | 13,084 | 14,047 | (2,032) | 2022 | |||||||||
| New Orleans, LA - TownePlace Suites | — | 1,366 | 18,110 | 261 | 1,366 | 18,371 | 19,737 | (2,699) | 2022 | |||||||||
| Initial Cost · Costs Subsequent · Gross Amount at December 31, 2024 | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description · Mortgage Debt/Encumbrances · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Buildings,Improvements and Furniture, Fixtures and Equipment · Land · Buildings,Improvements and Furniture, Fixtures and Equipment · Total · Accumulated Depreciation · DateAcquired | |||||||||||||||||||||
| Oklahoma City, OK - AC Hotel | — | 2,769 | 29,389 | 385 | 2,769 | 29,774 | 32,543 | (5,933) | 2022 | ||||||||||||
| Oklahoma City, OK - Holiday Inn Express & Suites | — | 2,542 | 21,574 | 933 | 2,542 | 22,507 | 25,049 | (3,520) | 2022 | ||||||||||||
| Oklahoma City, OK - Hyatt Place | — | 2,822 | 25,311 | 520 | 2,822 | 25,831 | 28,653 | (3,851) | 2022 | ||||||||||||
| Orlando, FL - Hyatt House | — | 2,800 | 34,423 | 883 | 2,800 | 35,306 | 38,106 | (13,834) | 2018 | ||||||||||||
| Orlando, FL - Hyatt Place | — | 3,100 | 11,343 | 7,898 | 3,100 | 19,241 | 22,341 | (6,737) | 2013 | ||||||||||||
| Orlando, FL - Hyatt Place | — | 2,716 | 11,221 | 7,594 | 2,716 | 18,815 | 21,531 | (7,963) | 2013 | ||||||||||||
| Pittsburgh, PA - Courtyard | — | 1,652 | 40,749 | 6,866 | 1,652 | 47,615 | 49,267 | (14,608) | 2017 | ||||||||||||
| Portland, OR - Hyatt Place | — | (2) | — | 14,700 | 1,012 | — | 15,712 | 15,712 | (7,426) | 2009 | |||||||||||
| Portland, OR - Residence Inn | — | — | 15,629 | 1,169 | — | 16,798 | 16,798 | (7,960) | 2009 | ||||||||||||
| Portland, OR - Residence Inn | — | (2) | 12,813 | 76,868 | 11,001 | 12,813 | 87,869 | 100,682 | (15,594) | 2019 | |||||||||||
| Poway, CA - Hampton Inn & Suites | — | 2,300 | 14,728 | 1,686 | 2,300 | 16,414 | 18,714 | (7,354) | 2013 | ||||||||||||
| Revere, MA - Hampton Inn & Suites | — | 32,237 | 33,912 | 9 | 32,237 | 33,921 | 66,158 | (390) | 2024 | ||||||||||||
| San Francisco, CA - Holiday Inn Express & Suites | — | 15,545 | 49,469 | 5,467 | 15,545 | 54,936 | 70,481 | (26,501) | 2013 | ||||||||||||
| Scottsdale, AZ - Courtyard | — | 3,225 | 12,571 | 4,287 | 3,225 | 16,858 | 20,083 | (11,804) | 2003 | ||||||||||||
| Scottsdale, AZ - Hyatt Place | — | 1,500 | 10,171 | 640 | 1,500 | 10,811 | 12,311 | (5,261) | 2012 | ||||||||||||
| Scottsdale, AZ - Residence Inn | — | 7,503 | 21,545 | 1,923 | 7,503 | 23,468 | 30,971 | (1,933) | 2023 | ||||||||||||
| Scottsdale, AZ - SpringHill Suites | — | 2,195 | 9,496 | 2,083 | 2,195 | 11,579 | 13,774 | (7,978) | 2003 | ||||||||||||
| Silverthorne, CO - Hampton Inn & Suites | — | 4,441 | 21,125 | 1,497 | 4,441 | 22,622 | 27,063 | (4,732) | 2019 | ||||||||||||
| Silverthorne, CO - Parking Garage | — | 2,404 | — | 2,450 | 2,404 | 2,450 | 4,854 | — | 2019 | ||||||||||||
| Steamboat Springs, CO - Nordic Lodge | — | 4,754 | 9,001 | 668 | 4,754 | 9,669 | 14,423 | (780) | 2023 | ||||||||||||
| Steamboat Springs, CO - Residence Inn | — | 1,832 | 31,214 | 893 | 1,832 | 32,107 | 33,939 | (4,883) | 2021 | ||||||||||||
| Tampa, FL - Hampton Inn & Suites | — | 3,600 | 20,366 | 5,066 | 3,600 | 25,432 | 29,032 | (12,122) | 2012 | ||||||||||||
| Tucson, AZ - Embassy Suites | 12,526 | 1,841 | 23,958 | 6,358 | 1,841 | 30,316 | 32,157 | (3,681) | 2021 | ||||||||||||
| Tucson, AZ - Homewood Suites | — | 2,570 | 22,802 | 2,650 | 2,570 | 25,452 | 28,022 | (8,454) | 2017 | ||||||||||||
| Tyler, TX - Residence Inn | — | 1,243 | 15,323 | 872 | 1,243 | 16,195 | 17,438 | (3,493) | 2022 | ||||||||||||
| Vienna, VA - Hilton Garden Inn | — | 8,699 | 21,481 | — | 8,699 | 21,481 | 30,180 | (158) | 2024 | ||||||||||||
| Waltham, MA - Hilton Garden Inn | — | 10,644 | 21,713 | 7,302 | 10,644 | 29,015 | 39,659 | (11,026) | 2017 | ||||||||||||
| Watertown, MA - Residence Inn | — | 25,083 | 45,917 | 717 | 25,083 | 46,634 | 71,717 | (11,713) | 2018 | ||||||||||||
| Land Parcels - Land Parcels | — | (3) | 4,645 | — | (2,995) | 1,650 | — | 1,650 | — | — | |||||||||||
| $418,860 | $2,883,159 | $308,661 | $416,799 | $3,193,881 | $3,610,680 | $(896,444) | |||||||||||||||
(1) Properties cross-collateralize the related loan, refer to "Part II – Item 8. –Financial Statements and Supplementary Data – Note 6 – Debt" in the Consolidated Financial Statements.
(2) Properties subject to ground lease, refer to "Part II – Item 8. –Financial Statements and Supplementary Data – Note 7 – Leases" in the Consolidated Financial Statements.
(3) Property accounting basis includes an impairment charge, based on the difference between its estimated fair value and net carrying amount at December 31, 2024.
(a) ASSET BASIS
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Reconciliation of land, buildings and improvements and furniture, fixtures and equipment: | |||
| Balance at beginning of period as adjusted | $3,586,899 | $3,548,184 | $2,638,549 |
| Additions to land, buildings, improvements and furniture, fixtures and equipment | 179,229 | 131,153 | 989,046 |
| Disposition of land, buildings, improvements and furniture, fixtures and equipment | (148,725) | (75,777) | (68,991) |
| Write-down of assets | (6,723) | (16,661) | (10,420) |
| Balance at end of period | $3,610,680 | $3,586,899 | $3,548,184 |
(b)ACCUMULATED DEPRECIATION
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Reconciliation of accumulated depreciation: | |||
| Balance at beginning of period | $821,924 | $716,646 | $583,080 |
| Depreciation | 141,945 | 146,083 | 145,491 |
| Depreciation on assets sold or disposed | (67,425) | (40,805) | (11,925) |
| Balance at end of period | $896,444 | $821,924 | $716,646 |
(c)The aggregate cost of real estate for Federal income tax purposes was approximately $3,499 million (unaudited).
(d)Depreciation for buildings, improvements and furniture, fixtures and equipment is based on useful lives ranging from 2 to 40 years.
(e)We have mortgages payable on the properties as noted. Additional mortgage information can be found in "Part II – Item 8. –Financial Statements and Supplementary Data – Note 6 – Debt" to the Consolidated Financial Statements.
(f)Amounts under the column heading "Costs Subsequent" include (when applicable) parcels of undeveloped land that were sold, and impairment losses related to certain properties.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.