Summit Hotel Properties Inc. 2026年季度报告

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every InteractiveData File required to be submitted and posted pursuant to Rule405 of Regulation S-T (§ 232.405) of this chapter during the preceding 12 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting Large accelerated filer☐Accelerated filerNon-accelerated filer☐Smaller reporting companyEmerging growth companyIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).☐Yes☒No As of April24, 2026, the number of outstanding shares of common stock of Summit Hotel Properties,Inc. was 108,365,078. PARTI — FINANCIAL INFORMATION PARTII — OTHER INFORMATION Summit Hotel Properties,Inc.Condensed Consolidated Statements of Comprehensive (Loss) Income SUMMIT HOTEL PROPERTIES,INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 - DESCRIPTION OF BUSINESS General Summit Hotel Properties,Inc. (the “Company”) is a self-managed lodging property investment company that was organized in June2010as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the “OperatingPartnership”), a Delaware limited partnership also organized in June 2010. Unless the context otherwise requires, “we,” “us,” and “our” We focus on owning lodging properties with efficient operating models that generate strong margins and investment returns. At March31,2026, our portfolio consisted of 94 lodging properties with a total of 14,226 guestrooms located in 24 states of the United States ofAmerica (“USA”). At March31, 2026, we own 100% of the outstanding equity interests in 52 of the 94 lodging properties. We own a 51%controlling interest in 39 lodging properties through a joint venture that was formed in July 2019 with USFI G-Peak, Ltd. (“GIC”), a At March31, 2026, 87% of our guestrooms were located in the top 50 metropolitan statistical areas (“MSAs”), 92% were located withinthe top 100 MSAs, and over 99% of our guestrooms operate under premium franchise brands owned by MarriottInternational, Inc.® (“Marriott”), HiltonWorldwide (“Hilton”), Hyatt Hotels Corporation (“Hyatt”), and InterContinental Hotels Group (“IHG”).® 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 March31, 2026, we owned, directly and indirectly,approximately 89% 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 partnershipinterest. NewcrestImage (as defined inNote 5 - Debtto the Condensed Consolidated Financial Statements) owns all of the issued andoutstanding 5.25% Series Z Cumulative Perpetual Preferred Units (liquidation preference $25 per unit) of the Operating Partnership Pursuant to the Operating Partnership’s partnership agreement, we have full, exclusive and complete responsibility and discretion in themanagement and control of the Operating Partnership, including the ability to cause the Operating Partnership to enter into certain major We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. To qualify as a REIT, we cannotoperate or manage our lodging properties. Accordingly, all of our lodging properties are leased to our taxable REIT subsidiaries (“TRS NOTE 2 - BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation We prepare our Condensed Consolidated Financial Statements in conformity with U.S. Generally Accepted Accounting Principles(“GAAP”) for interim financial information and with the instructions to Form10-Q and Article10 of Regulation S-X under the SecuritiesExchange Act of 1934, as amended, which requires us to make estimates and assumptions that affect the reported amounts of assets andliabilities at the date of the Condensed Consolidated Financial Statements and reported amounts of consolidated revenues and expenses inthe reporting period. Actual results could differ from those estimates. As interim statements, the Condensed Consolidated Financial The accompanying Condensed Consolidated Financial Statements consolidate the accounts of all entities in which we have a controllingfinancial interest, as well as varia