Summit Hotel Properties, Inc.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
INN$7.44+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| OPERATING ACTIVITIES | ||
| Net (loss) income | $(9,100) | $37,975 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization | 112,123 | 109,965 |
| Amortization of debt issuance costs | 5,279 | 4,880 |
| Equity-based compensation | 6,754 | 6,337 |
| Deferred tax expense | 636 | — |
| Loss (gain) on disposal of assets, net | 136 | (28,439) |
| Gain on extinguishment of debt | — | (3,000) |
| Non-cash interest income | — | (400) |
| Debt transaction costs | — | 647 |
| Other | 747 | 210 |
| Changes in operating assets and liabilities: | ||
| Trade receivables, net | (614) | 625 |
| Prepaid expenses and other | (4,986) | (4,853) |
| Accounts payable | 1,038 | 798 |
| Accrued expenses and other | 8,475 | 9,393 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 120,488 | 134,138 |
| INVESTING ACTIVITIES | ||
| Improvements to lodging properties | (56,392) | (61,529) |
| Investment in lodging property under development | (6,571) | (3,946) |
| Proceeds from tax incentive | — | 9,896 |
| Proceeds from asset dispositions, net | 1,302 | 92,168 |
| Escrow deposits | — | (2,900) |
| Other | (128) | — |
| NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES | (61,789) | 33,689 |
| FINANCING ACTIVITIES | ||
| Proceeds from borrowings on revolving line of credit | 70,000 | 100,000 |
| Repayments of revolving line of credit borrowings | (60,000) | (100,000) |
| Proceeds from mortgage loan | 58,000 | — |
| Principal payments on debt | (46,487) | (94,138) |
| Repurchases of common shares | (15,402) | — |
| Proceeds from term loan | 95,000 | — |
| Repayment of term loan | (91,037) | — |
| Common dividends and distributions paid | (29,365) | (27,024) |
| Preferred dividends and distributions paid | (14,026) | (14,026) |
| Contributions by non-controlling interests in joint venture | 832 | 356 |
| Distributions to joint venture partners | (15,329) | (17,825) |
| Financing fees, debt transaction costs and other issuance costs | (10,221) | (2,962) |
| Repurchase of common stock for tax withholding requirements | (1,617) | (939) |
| NET CASH USED IN FINANCING ACTIVITIES | (59,652) | (156,558) |
| Net change in cash, cash equivalents and restricted cash | (953) | 11,269 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||
| Beginning of period | 48,358 | 47,768 |
| End of period | $47,405 | $59,037 |
| RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEET TO THE AMOUNTS SHOWN IN THE STATEMENT OF CASH FLOWS ABOVE: | ||
| Cash and cash equivalents | $41,135 | $51,698 |
| Restricted cash | 6,270 | 7,339 |
| TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH | $47,405 | $59,037 |
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