Summit Hotel Properties (Summit Hotel Properties) Long-Term Capital Lease Obligation : $25.41 Mil (As of Mar. 2024)

View and export this data going back to 2013. Start your Free Trial

What is Summit Hotel Properties Long-Term Capital Lease Obligation?

Summit Hotel Properties's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $25.41 Mil.

Summit Hotel Properties's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($26.10 Mil) to Dec. 2023 ($25.84 Mil) and declined from Dec. 2023 ($25.84 Mil) to Mar. 2024 ($25.41 Mil).

Summit Hotel Properties's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($17.23 Mil) to Dec. 2022 ($25.48 Mil) and increased from Dec. 2022 ($25.48 Mil) to Dec. 2023 ($25.84 Mil).

Summit Hotel Properties Long-Term Capital Lease Obligation Historical Data

The historical data trend for Summit Hotel Properties's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Summit Hotel Properties Long-Term Capital Lease Obligation Chart

Summit Hotel Properties Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

Get a 7-Day Free Trial

19.60

18.44

17.23

25.48

25.84

Summit Hotel Properties Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															26.31	26.38	26.10	25.84	25.41

Summit Hotel Properties (NYSE:INNpCCL.PFD) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

Summit Hotel Properties Long-Term Capital Lease Obligation Related Terms

Thank you for viewing the detailed overview of Summit Hotel Properties's Long-Term Capital Lease Obligation provided by GuruFocus.com. Please click on the following links to see related term pages.

Summit Hotel Properties (Summit Hotel Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Summit Hotel Properties Inc (NYSE:INNpCCL.PFD) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

INNpE.PFD:USA INN:USA

Address

13215 Bee Cave Parkway, Suite B-300, Austin, TX, USA, 78738

Website

https://www.shpreit.com

Summit Hotel Properties Inc is a U.S.-based hotel investment company focusing on select-service hotels in the upscale and upper-midscale properties in the U.S. Substantially all of Summit's assets are held and operated by its Operating Partnership, Summit Hotel OP, LP, in which the company holds general and limited partnership interests. The firm has one segment in activities related to investing in real estate. Summit's revenue streams include Room and Other hotel operations revenue. Room comprises the majority of total revenues. The firm's hotels are located in various markets, such as corporate offices, retail centers, airports, state capitols, convention centers, and leisure attractions. Summit's hotels operate under brands, including Marriott, Hilton, Hyatt, and Holiday Inn.