Attached files
| file | filename |
|---|---|
| 10-Q - SUMMIT HOTEL PROPERTIES LLC | v165893_10q.htm |
| EX-31.1 - SUMMIT HOTEL PROPERTIES LLC | v165893_ex31-1.htm |
| EX-31.2 - SUMMIT HOTEL PROPERTIES LLC | v165893_ex31-2.htm |
| EX-32.1 - SUMMIT HOTEL PROPERTIES LLC | v165893_ex32-1.htm |
| EX-32.2 - SUMMIT HOTEL PROPERTIES LLC | v165893_ex32-2.htm |
|
Exhibit
99.1
|
Reconciliation
of Non-GAAP Financial Measure
Reconciliation of Net Income to Net
Cash From Operations
|
Three Months
|
Nine Months
|
|||||||
|
Ended
|
Ended
|
|||||||
|
September 30, 2009
|
September 30, 2009
|
|||||||
|
Net Income (Loss) Attributable to Summit Hotel Properties, LLC
|
$ | (7,622,660 | ) | $ | (8,952,883 | ) | ||
|
plus
Depreciation and Amortization
|
$ | 5,662,526 | $ | 17,138,752 | ||||
|
plus
Unsuccessful Project Costs
|
$ | 250,631 | $ | 1,065,840 | ||||
|
less
Gain (loss) on Impairment or Sale of Assets
|
$ | 6,826,883 | $ | 5,207,437 | ||||
|
less
State Income Tax Payments
|
$ | 13,243 | $ | (512,810 | ) | |||
|
less
Principal Payments on Company Debt
|
$ | (1,796,511 | ) | $ | (5,103,996 | ) | ||
|
less
Priority Return Payments to Investors
|
$ | (3,145,248 | ) | $ | (8,999,279 | ) | ||
|
less
Reserves Required by Lenders
|
$ | (358,080 | ) | $ | (1,209,330 | ) | ||
|
plus
Capitalized Interest on Loans
|
$ | 647,792 | $ | 1,726,814 | ||||
|
plus
Repair Expense Funded by Loans/Reserves
|
$ | 413,893 | $ | 2,121,196 | ||||
|
Net
Cash from Operations
|
$ | 892,469 | $ | 2,481,741 | ||||