Summit Hotel Properties (INN) 10-K 2015 FY Annual report

Exhibit 12.1

Summit Hotel Properties, Inc.

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(Dollars in Thousands)

													For the Period			For the Period
	Year Ended			Year Ended			Year Ended			Year Ended			2/14/11 through			1/1/11 through
	12/31/2015			12/31/2014			12/31/2013			12/31/2012			12/31/2011			2/13/2011
Earnings
Pre-tax income (loss) from continuing operations	$	125,809		$	21,175		$	11,519		$	(7,675	)	$	(6,091	)	$	(4,549	)
Interest expense	28,691			26,968			20,137			14,909			9,993			3,435
Amortization of financing costs	1,723			1,549			1,854			2,288			1,199			94
Amortization of capitalized interest	348			463			581			599			524			75
Total Earnings	$	156,571		$	50,155		$	34,091		$	10,121		$	5,625		$	(945	)
Fixed Charges
Interest expense	$	28,691		$	26,968		$	20,137		$	14,909		$	9,993		$	3,435
Capitalized interest	75			253			453			53				—			—
Amortization of financing costs	1,723			1,549			1,854			2,288			1,199			94
Total Fixed Charges	$	30,489		$	28,770		$	22,444		$	17,250		$	11,192		$	3,529
Preferred Dividends	$	16,588		$	16,588		$	14,590		$	4,625		$	411		$	—
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends	3.33		(1)	1.11		(2)	0.92		(3)	0.46		(4)	0.48		(5)	(0.27		)(6)

(1)Earnings were more than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $47.1 million and the total amount of earnings was approximately $156.6 million.  The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $109.5 million.

(2)Earnings were more than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $45.4 million and the total amount of earnings was approximately $50.2 million.  The amount of the adequacy, or the amount of earnings in excess of fixed charges and preferred stock dividends, was approximately $4.8 million.

(3)Earnings were less than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $37.0 million and the total amount of earnings was approximately $34.1 million.  The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $2.9 million.

(4)Earnings were less than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $21.9 million and the total amount of earnings was approximately $10.1 million.  The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $11.8 million.

(5)Earnings were less than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $11.6 million and the total amount of earnings was approximately $5.6 million.  The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $6.0 million.

(6)Earnings were less than fixed charges and preferred stock dividends.  The total amount of fixed charges and preferred stock dividends for this period was approximately $3.5 million and the total amount of earnings was approximately ($0.9) million.  The amount of the deficiency, or the amount of fixed charges and preferred stock dividends in excess of earnings, was approximately $4.5 million.