{
  "schemaVersion": "deck-intelligence.v1",
  "id": "019de518-3010-72e4-89ca-2bdd2671c18b",
  "slug": "c1fb1cc777b30f03f1a13e6d55ea9e20",
  "title": "Summit Hotel Properties | Investor Presentation Deck | 31 slides",
  "subtitle": "Summit Hotel Properties · 2024-02",
  "author": "Summit Hotel Properties",
  "date": "2024-02-01 00:00:00",
  "pageCount": 31,
  "kind": "pitchdeck",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "document": {
    "id": "019de518-3010-72e4-89ca-2bdd2671c18b",
    "slug": "c1fb1cc777b30f03f1a13e6d55ea9e20",
    "title": "Summit Hotel Properties | Investor Presentation Deck | 31 slides",
    "rawTitle": "Summit Hotel Properties | Investor Presentation Deck | 31 slides",
    "authorId": "summit-hotel-properties",
    "authorName": "Summit Hotel Properties",
    "authorDisplay": "Summit Hotel Properties",
    "kind": {
      "slug": "pitchdeck",
      "label": "Pitch deck"
    },
    "sourceType": {
      "slug": "investor_relations",
      "label": "Investor relations"
    },
    "fileName": "2024-02__summit-hotel-properties__investor-pres__c1fb1cc7.pdf",
    "sourceUrl": "https://www.slidebook.io/company/summit-hotel-properties/presentation/c1fb1cc777b30f03f1a13e6d55ea9e20/",
    "sourceDate": "2024-03-15 00:00:00",
    "presentationDate": "2024-02-01 00:00:00",
    "ingestedAt": "2026-05-01 19:51:00.967767+00",
    "status": "ready",
    "pageCount": 31,
    "orientation": "landscape",
    "aspectRatio": 1.3333334,
    "targetCompany": null,
    "targetTicker": null,
    "metadata": {
      "corpus": "slidebook",
      "industry": "reit-hotel-and-motel",
      "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2024-02__summit-hotel-properties__investor-pres__c1fb1cc7",
      "image_width": 1920,
      "image_format": "jpg",
      "deck_type_raw": "Investor Presentation Deck",
      "deck_type_slug": null,
      "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/"
    }
  },
  "coverage": {
    "pageCount": 31,
    "pagesIndexed": 31,
    "pagesWithImages": 31,
    "pagesWithMetadata": 31,
    "imageCoveragePct": 100,
    "metadataCoveragePct": 100,
    "componentCount": 257,
    "chartCount": 17,
    "metricSlides": 0,
    "toolMatches": 16,
    "documentToolMatches": 0,
    "frameworkMatches": 0,
    "arcMatches": 1,
    "beatMatches": 4,
    "loopMatches": 1,
    "patternMatches": 0,
    "storymakersMatch": false,
    "scoreAvailable": false,
    "reviewAvailable": false,
    "activistThesisAvailable": false,
    "pitchdeckMetadataAvailable": false,
    "pitchdeckProfileAvailable": false
  },
  "blocks": [],
  "matches": {
    "arcs": [
      {
        "arc": {
          "name": "The Sequoia Pitch",
          "slug": "sequoia-pitch",
          "status": "active",
          "bestFor": "Investor pitches, Series A/B, board presentations",
          "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
        "evidence": "The deck follows a structure similar to the Sequoia Pitch, with sections on problem, solution, market size, product, and team",
        "isPrimary": true,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-16 23:15:16.013459+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "beats": [
      {
        "to": 11,
        "arc": {
          "name": "The Sequoia Pitch",
          "slug": "sequoia-pitch",
          "status": "active",
          "bestFor": "Investor pitches, Series A/B, board presentations",
          "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 11,
        "name": "Problem",
        "beatId": "eddbd47e-7b1a-44e8-9ecd-d15e963a0867",
        "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
        "beatType": {
          "name": "Problem",
          "slug": "sequoia-pitch-problem",
          "status": "active",
          "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents industry supply growth expected to average <1% from 2024-2026",
        "position": 0,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Complication",
          "slug": "complication",
          "status": "active",
          "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
          "version": 1,
          "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 9,
        "arc": {
          "name": "The Sequoia Pitch",
          "slug": "sequoia-pitch",
          "status": "active",
          "bestFor": "Investor pitches, Series A/B, board presentations",
          "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 4,
        "name": "Solution",
        "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
        "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
        "beatType": {
          "name": "Solution",
          "slug": "sequoia-pitch-solution",
          "status": "active",
          "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
        "position": 1,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Turn",
          "slug": "turn",
          "status": "active",
          "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
          "version": 1,
          "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 10,
        "arc": {
          "name": "The Sequoia Pitch",
          "slug": "sequoia-pitch",
          "status": "active",
          "bestFor": "Investor pitches, Series A/B, board presentations",
          "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 10,
        "name": "Market Size",
        "beatId": "def1d0d5-729a-401c-899e-cf09f9775ede",
        "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
        "beatType": {
          "name": "Market Size",
          "slug": "sequoia-pitch-market-size",
          "status": "active",
          "canonId": "019dd9b8-20e6-729c-bc28-05442906d032",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents a geographic map with premier portfolio",
        "position": 2,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Evidence",
          "slug": "evidence",
          "status": "active",
          "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
          "version": 1,
          "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      },
      {
        "to": 22,
        "arc": {
          "name": "The Sequoia Pitch",
          "slug": "sequoia-pitch",
          "status": "active",
          "bestFor": "Investor pitches, Series A/B, board presentations",
          "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
          "version": 1,
          "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
          "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
          "description": null,
          "familyLabel": null,
          "categoryName": "Strategy & Business",
          "categorySlug": "strategy-business"
        },
        "from": 20,
        "name": "Financials",
        "beatId": "6cdf91da-bd21-4d14-9fe3-fee38e8e9682",
        "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
        "beatType": {
          "name": "Financials",
          "slug": "sequoia-pitch-financials",
          "status": "active",
          "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
          "version": 1,
          "description": null
        },
        "evidence": "The document presents balance sheet information",
        "position": 3,
        "isPrimaryArc": true,
        "parentBeatType": {
          "name": "Evidence",
          "slug": "evidence",
          "status": "active",
          "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
          "version": 1,
          "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
        },
        "alignedBlockIds": null,
        "matchConfidence": 0.8
      }
    ],
    "loops": [
      {
        "to": 11,
        "from": 11,
        "loop": {
          "name": "27_cost_of_inaction",
          "slug": "27-cost-of-inaction",
          "status": "active",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
          "version": 1,
          "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "description": "Quantify what happens if the audience does nothing",
          "familyLabel": null,
          "categoryName": "Urgency",
          "categorySlug": "urgency"
        },
        "matchId": "aaffaca0-d219-42a8-a696-b49d144d18b1",
        "evidence": "The document presents muted industry supply growth expected to average <1% from 2024-2026",
        "position": 0,
        "objective": "Highlight the cost of inaction in the current market",
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-16 23:15:16.235012+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": "doc-narrative-v1"
        }
      }
    ],
    "tools": [
      {
        "tool": {
          "name": "Slide recipe: Cover",
          "slug": "cover-slide",
          "status": "active",
          "bestFor": null,
          "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
          "version": 1,
          "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
          "description": "The first ten seconds. Build it deliberately.",
          "familyLabel": "slide-recipe",
          "categoryName": "Slide",
          "categorySlug": "slide"
        },
        "agent": "designer",
        "layer": "slide",
        "agents": [
          "designer"
        ],
        "matchId": "f3e98931-c860-4283-a3d3-273acaa8b7ad",
        "evidence": "cover",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:02:54.278973+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 1,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Executive summary",
          "slug": "executive-summary",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61",
          "version": 1,
          "bodyDocId": null,
          "description": "A condensed view of the entire argument on a single slide / block.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "412ad5c5-f309-44f3-8000-0b18eba87558",
        "evidence": "executive_summary",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:02:54.382804+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 3,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Action Titles",
          "slug": "action-titles",
          "status": "active",
          "bestFor": "Any decision-grade deliverable — strategy recommendation, board update, investment memo, M&A review, post-mortem — where the reader is being asked to agree, decide, or act and will skim the title bar at speed.",
          "canonId": "019dd956-ac70-700b-a608-ba58e78f5dcc",
          "version": 1,
          "bodyDocId": "816dad3c-9983-41c1-a86e-978ebd582841",
          "description": "The McKinsey-bred discipline of writing every slide title as a complete declarative sentence with a verb and an insight, not a topic label. Each title is a sub-claim that ladders up to the deck's governing thought; read in sequence, the titles reconstruct the executive summary.",
          "familyLabel": null,
          "categoryName": "Slide",
          "categorySlug": "slide"
        },
        "agent": "Architect",
        "layer": "slide",
        "agents": [
          "Architect"
        ],
        "matchId": "278d36d8-c5e2-4e1c-9dec-b8ede3ac2736",
        "evidence": "Proven Investment Strategy",
        "pageRefs": null,
        "priority": "Core",
        "whenToUse": "Any decision-grade deliverable — strategy recommendation, board update, investment memo, M&A review, post-mortem — where the reader is being asked to agree, decide, or act and will skim the title bar at speed.",
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:02:54.485099+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 5,
        "whyItWorks": "Solves two failure modes at once. (1) The buried claim: action titles place the conclusion on the page before any analysis is read, so a busy reader doesn't reverse-engineer it from the chart. (2) The spineless deck: because each title is a claim, slides have to ladder up to the governing thought; logical gaps become visible as topic-shaped titles in a sequence that no longer reads as a story.",
        "antipattern": "Topic labels disguised as titles — Volume by quarter, Key findings, Pricing strategy, Margins have been impacted. No verb, or a passive verb with no agent, or a fact (Revenue grew 12%) without the so-what. Also: titles that overreach the chart's evidence, multi-claim X-grew-but-Y-fell welded titles, and mechanical repetition of the same X-drove-Y template across the deck.",
        "cardinality": null,
        "narrativePurpose": "Forces the deck to carry its argument in the title bar so a senior reader can extract the recommendation without opening a single slide; converts a binder of topics into a navigable pyramid where every slide is a node defending the apex."
      },
      {
        "tool": {
          "name": "Audience Definition",
          "slug": "audience-definition",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756",
          "version": 1,
          "bodyDocId": null,
          "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?",
          "familyLabel": null,
          "categoryName": "Block",
          "categorySlug": "block"
        },
        "agent": "Storyteller",
        "layer": "slide",
        "agents": [
          "Storyteller"
        ],
        "matchId": "61287009-b153-43bb-b4c9-6f80e9c2dd39",
        "evidence": "Premier portfolio with industry-leading brands offering diverse and distinctive accommodations and experiences",
        "pageRefs": null,
        "priority": "Core",
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:02:50.554233+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 12,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Audience Persona",
          "slug": "audience-persona",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd956-7fe3-74e9-88b8-be0bea34f219",
          "version": 1,
          "bodyDocId": null,
          "description": "Detailed fictional profile of typical audience member including goals, frustrations, and context",
          "familyLabel": null,
          "categoryName": "Block",
          "categorySlug": "block"
        },
        "agent": "Storyteller",
        "layer": "slide",
        "agents": [
          "Storyteller"
        ],
        "matchId": "32191765-e6c0-4020-aa98-dfe4494bf6ad",
        "evidence": "Summit believes in the value of brand loyalty and partners with leading global brands that provide access to millions of enrolled loyalty members.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:02:50.593483+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 12,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Deploy / Reshape / Invent (BCG)",
          "slug": "bcg-deploy-reshape-invent",
          "status": "active",
          "bestFor": null,
          "canonId": "019de52d-2044-72cc-b402-2511b4663d84",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "f67e4bde-ad68-44cc-aad0-7741bf952c39",
        "evidence": "Identify markets with unfavorable supply/demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 02:02:50.7128+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 14,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Three Pillars",
          "slug": "three-pillars",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd956-81ef-7455-a365-b234d95a6bbb",
          "version": 1,
          "bodyDocId": null,
          "description": "Three major supporting arguments that are MECE and address key concerns",
          "familyLabel": null,
          "categoryName": "Block",
          "categorySlug": "block"
        },
        "agent": "Architect",
        "layer": "slide",
        "agents": [
          "Architect"
        ],
        "matchId": "96729ef1-6da3-4c95-9d3d-2f68ba032614",
        "evidence": "Own 40 hotels totaling 5,454 guestrooms with a well-respected global real estate investor further validates Summit's platform and operating model",
        "pageRefs": null,
        "priority": "Core",
        "whenToUse": null,
        "confidence": 0.6,
        "extraction": {
          "at": "2026-07-17 02:02:50.755695+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 14,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Capital Allocation Framework",
          "slug": "capital-allocation-framework",
          "status": "active",
          "bestFor": null,
          "canonId": "d2901a21-50b9-4151-ab1b-55b432772ea1",
          "version": 1,
          "bodyDocId": null,
          "description": null,
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "2f1c5db1-90a7-42ca-9954-94efd0186b3b",
        "evidence": "Targeted capital allocation strategy with proven track record of transaction driven value creation",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 02:02:50.873841+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 16,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "6baddbf0-192a-4143-b25c-03080e43d92f",
        "evidence": "RECENT ACQUISITION HIGHLIGHTS",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:02:50.954534+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 17,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "List presentation",
          "slug": "list-presentation",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
          "version": 1,
          "bodyDocId": null,
          "description": "Bulleted, numbered, or checklist enumerations.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "3f8c2414-3522-4255-b80b-6396f51c3c74",
        "evidence": "list/bullet: Hyatt Place Orlando Universal Studios",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 02:02:51.033442+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 18,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Chart Selection Guide",
          "slug": "chart-selection-guide",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd956-b1a0-700b-ba17-0e16c4d5bcae",
          "version": 1,
          "bodyDocId": null,
          "description": "Choosing the right chart type for your data and message",
          "familyLabel": null,
          "categoryName": "Slide",
          "categorySlug": "slide"
        },
        "agent": "Designer",
        "layer": "slide",
        "agents": [
          "Designer"
        ],
        "matchId": "650ecd18-008b-429f-b3c1-02e7bb33999e",
        "evidence": "chart/bar-stacked: No significant debt maturities until 2026",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:02:51.112379+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 21,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "List presentation",
          "slug": "list-presentation",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
          "version": 1,
          "bodyDocId": null,
          "description": "Bulleted, numbered, or checklist enumerations.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "4a8d7fe1-abe4-46cc-9dbd-ec663d28b354",
        "evidence": "The slide contains a list of bullet points highlighting ESG achievements.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 02:02:36.493447+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 24,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "List presentation",
          "slug": "list-presentation",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
          "version": 1,
          "bodyDocId": null,
          "description": "Bulleted, numbered, or checklist enumerations.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "67ddb6d0-e854-43c9-9a27-ef6185d53925",
        "evidence": "The slide contains lists of goals for social responsibility, environmental stewardship, and governance.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.8,
        "extraction": {
          "at": "2026-07-17 02:02:36.564321+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 25,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Section divider",
          "slug": "section-divider",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4c66-707d-8d1f-6e14547134c7",
          "version": 1,
          "bodyDocId": null,
          "description": "A transitional slide marking the start of a new section.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "79f3ac3c-1b3f-4e01-95ba-8c643eada793",
        "evidence": "The slide serves as a divider between sections, marked by a title and a source note.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:02:36.669794+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 27,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Table data",
          "slug": "table-data",
          "status": "active",
          "bestFor": null,
          "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
          "version": 1,
          "bodyDocId": null,
          "description": "Tabular layouts of structured data.",
          "familyLabel": null,
          "categoryName": null,
          "categorySlug": null
        },
        "agent": null,
        "layer": "slide",
        "agents": null,
        "matchId": "ede53214-f7ea-4178-aa69-8d27dcd13be6",
        "evidence": "The slide includes a table with financial data.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.7,
        "extraction": {
          "at": "2026-07-17 02:02:36.773799+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 29,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": "common",
        "narrativePurpose": null
      },
      {
        "tool": {
          "name": "Slide recipe: Cover",
          "slug": "cover-slide",
          "status": "active",
          "bestFor": null,
          "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
          "version": 1,
          "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
          "description": "The first ten seconds. Build it deliberately.",
          "familyLabel": "slide-recipe",
          "categoryName": "Slide",
          "categorySlug": "slide"
        },
        "agent": "designer",
        "layer": "slide",
        "agents": [
          "designer"
        ],
        "matchId": "30dd99c2-1fe6-4961-8fd8-5df0845017e1",
        "evidence": "The slide serves as a cover page with no text, only a logo or image.",
        "pageRefs": null,
        "priority": null,
        "whenToUse": null,
        "confidence": 0.9,
        "extraction": {
          "at": "2026-07-17 02:02:36.878675+00",
          "model": "or:meta-llama/llama-4-scout",
          "runId": null,
          "seconds": null,
          "promptVersion": null
        },
        "pageNumber": 31,
        "whyItWorks": null,
        "antipattern": null,
        "cardinality": null,
        "narrativePurpose": null
      }
    ],
    "frameworks": [],
    "patterns": []
  },
  "storymakers": null,
  "score": null,
  "review": null,
  "activistThesis": null,
  "pitchdeck": {
    "metadata": null,
    "profile": null
  },
  "slides": [
    {
      "page": 1,
      "type": "setup",
      "function": "front_matter",
      "imagePath": "https://imgproxy.kitesheet.com/dcJRbXWfbZjGb6-C-4u98hvvPJuyvncPkbKtn1UexdI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9jMWZiMWNjNzc3YjMwZjAzZjFhMTNlNmQ1NWVhOWUyMC9wMDAxLmpwZw",
      "rawType": "cover",
      "block": null,
      "metadata": {
        "slideType": "cover",
        "slideTypeCanon": {
          "name": "Cover",
          "slug": "cover",
          "status": "active",
          "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410",
          "version": 1,
          "description": null
        },
        "function": "front_matter",
        "functionCanon": {
          "name": "Front matter",
          "slug": "front_matter",
          "status": "active",
          "canonId": "019de52d-133d-73f0-9e26-201eda96b098",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 38,
        "componentCount": 6,
        "textChars": 115,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:21.711+00",
          "seconds": 4.486,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/1",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-1",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 1,
            "w": 0.32,
            "x": 0.68,
            "y": 0
          },
          "kind": "image",
          "text": "Element - Miami Brickell",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "72133045-0816-4273-ab26-cb2ea33f6ed1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 0.32,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": "Hampton Inn & Suites - Austin Downtown",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c74642ad-3e1f-43fb-b958-90bb967d7a41",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.28,
            "x": 0.36,
            "y": 0.57
          },
          "kind": "paragraph",
          "text": "Investor Presentation",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6866821c-68a0-474a-bd1b-79baf14729e5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.16,
            "x": 0.42,
            "y": 0.62
          },
          "kind": "paragraph",
          "text": "MARCH 2024",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7710e2d9-6026-4cbe-acff-38b409a1e7f0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.24,
            "x": 0.38,
            "y": 0.43
          },
          "kind": "paragraph",
          "text": "HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d34608f5-4c9b-482e-bec5-cdf3eced4afd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.26,
            "x": 0.37,
            "y": 0.35
          },
          "kind": "title",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:21.711+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "35b372a0-808d-435e-ad19-bb219b2a377d",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Slide recipe: Cover",
            "slug": "cover-slide",
            "status": "active",
            "bestFor": null,
            "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
            "version": 1,
            "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
            "description": "The first ten seconds. Build it deliberately.",
            "familyLabel": "slide-recipe",
            "categoryName": "Slide",
            "categorySlug": "slide"
          },
          "agent": "designer",
          "layer": "slide",
          "agents": [
            "designer"
          ],
          "matchId": "f3e98931-c860-4283-a3d3-273acaa8b7ad",
          "evidence": "cover",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:02:54.278973+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 1,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "thumbSrc": "https://imgproxy.kitesheet.com/voAiW7GL-LPM8qrVJBLnGYOC4BphHNgtXGi7cNb0mig/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9jMWZiMWNjNzc3YjMwZjAzZjFhMTNlNmQ1NWVhOWUyMC9wMDAxLmpwZw",
      "imagePathAlt": "https://imgproxy.kitesheet.com/L14BLEnoijHnIz2IoRKcXT9eDpnDt9mIiObaGl2LVR4/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9jMWZiMWNjNzc3YjMwZjAzZjFhMTNlNmQ1NWVhOWUyMC9wMDAxLnBuZw",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/TVhNwOu75lo5q73bTjHXRbtDtnyn1g1kluMKTuw4-as/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9jMWZiMWNjNzc3YjMwZjAzZjFhMTNlNmQ1NWVhOWUyMC9wMDAxLnBuZw"
    },
    {
      "page": 2,
      "type": "setup",
      "function": "establish_context",
      "rawType": "disclaimer",
      "block": null,
      "metadata": {
        "slideType": "disclaimer",
        "slideTypeCanon": {
          "name": "Disclaimer",
          "slug": "disclaimer",
          "status": "active",
          "canonId": "019de52d-0801-727b-b98a-5ed095aeee78",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 71,
        "componentCount": 6,
        "textChars": 3531,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:24.854+00",
          "seconds": 7.543,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/2",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-2",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.359,
            "w": 0.869,
            "x": 0.048,
            "y": 0.273
          },
          "kind": "list",
          "text": "our ability to increase our dividend per share of common stock;\nthe state of the U.S. economy generally or in specific geographic regions in which we operate, and the effect of general economic conditions on the lodging industry and our business in particular;\nmarket trends in our industry, interest rates, real estate values and the capital markets;\nour business and investment strategy and, particularly, our ability to identify and complete hotel acquisitions and dispositions;\nour projected operating results;\nactions and initiatives of the U.S. government and changes to U.S. government policies and the execution and impact of such actions, initiatives and policies;\nour ability to manage our relationships with our management companies and franchisors;\nour ability to maintain our existing and future financing arrangements;\nchanges in the value of our properties;\nthe impact of and changes in governmental regulations, tax law and rates, accounting guidance and similar matters;\nour ability to satisfy the requirements for qualification as a REIT under the U.S. Tax Code;\nour ability to repay or refinance our indebtedness as it matures or becomes callable by lenders;\nthe availability of qualified personnel;\nour ability to make distributions to our stockholders in the future;\nthe general volatility of the market price of our securities; and\nthe degree and nature of our competition.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3be63e3e-efa1-49e3-8fc4-69dca8e5e7e0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.905,
            "x": 0.048,
            "y": 0.173
          },
          "kind": "paragraph",
          "text": "We make forward-looking statements in this presentation that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives. When we use the words \"believe,\" \"expect,\" \"anticipate,\" \"estimate,\" \"plan,\" \"continue,\" \"intend,\" \"should,\" \"may,\" or similar expressions, we intend to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking by their nature:",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6e0129e5-6c3d-4c07-8811-99ab6307766d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.905,
            "x": 0.048,
            "y": 0.833
          },
          "kind": "paragraph",
          "text": "Additionally, this presentation contains certain unaudited historical and pro forma information and metrics which are based or calculated from historical data that is maintained or produced by Summit or third parties. This presentation contain statistics and other data that may have been obtained from, or compiled from, information made available by third-parties.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9af31093-2d86-4df1-a476-8c1a65757d30",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.17,
            "w": 0.905,
            "x": 0.048,
            "y": 0.65
          },
          "kind": "paragraph",
          "text": "Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account information currently available to us. You should not place undue reliance on these forward-looking statements. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. These factors are discussed under \"Item 1A. Risk Factors\" in our Annual Report on Form 10-K for the year ended December 31, 2023, and in other documents we have filed with the Securities and Exchange Commission. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. Any forward-looking statement is effective only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict those events or how they may affect us. Except as required by law we are not obligated to, and do not intend to, publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e66b6725-594c-4701-9de2-3786c75f00cc",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.008,
            "x": 0.953,
            "y": 0.93
          },
          "kind": "source-note",
          "text": "2",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f714f32d-8f9d-4d3f-9694-3785347fc28d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.43,
            "x": 0.048,
            "y": 0.101
          },
          "kind": "title",
          "text": "Forward looking statements",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.854+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "41a7df40-01eb-44df-9bf6-1178c45a635a",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 3,
      "type": "setup",
      "function": "establish_context",
      "rawType": "executive_summary",
      "block": null,
      "metadata": {
        "slideType": "executive_summary",
        "slideTypeCanon": {
          "name": "Executive summary",
          "slug": "executive_summary",
          "status": "active",
          "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 93,
        "componentCount": 13,
        "textChars": 810,
        "nDataPoints": 7,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:25.943+00",
          "seconds": 8.332,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/3",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-3",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.094,
            "x": 0.866,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT\nHOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "53e32788-9410-4dba-b466-b9cf56640416",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.875,
            "w": 0.407,
            "x": 0.593,
            "y": 0
          },
          "kind": "image",
          "text": "AC Hotel / Element - Miami Brickell",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5eba2a4c-de61-4f13-adb6-aab58a1f31c4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.373,
            "y": 0.563
          },
          "kind": "metric",
          "text": "$1.0B\nRecent Acquisitions",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0cff1af0-318c-4b8b-8b80-64946d76b285",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.373,
            "y": 0.375
          },
          "kind": "metric",
          "text": "43\nMarkets (1)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "14ed66b3-3ff0-4752-8b43-9086682cbc93",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.209,
            "y": 0.75
          },
          "kind": "metric",
          "text": "46%\nGOP Margin (1,3)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "456774bb-191e-469d-b21e-a359a763464c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.045,
            "y": 0.75
          },
          "kind": "metric",
          "text": "95%\nMarriott, Hyatt Hilton (2)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6e6f8c6b-0c9e-4b30-b4c1-e3e8f3ceac36",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.209,
            "y": 0.375
          },
          "kind": "metric",
          "text": "14,785\nGuestrooms (1)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "85c28b90-84f2-49ec-9c44-8708cc9d8841",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.045,
            "y": 0.563
          },
          "kind": "metric",
          "text": "85%\nTop 50 Markets (1,2)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a3bef4bd-a65b-4bd8-b56b-2e2a9e00fab8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.373,
            "y": 0.75
          },
          "kind": "metric",
          "text": "114\nPortfolio RevPAR Index (4)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c42a22f9-408c-4a45-b874-87f4b76dc922",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.15,
            "x": 0.045,
            "y": 0.375
          },
          "kind": "metric",
          "text": "99\nLodging Assets (1)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Metric",
              "slug": "metric",
              "status": "active",
              "canonId": "019de52c-f923-73bf-8081-d0b1a8c5264d",
              "version": 1,
              "description": "Big-number or KPI value."
            },
            "tool": null,
            "subkind": {
              "name": "Big number",
              "slug": "big-number",
              "status": "active",
              "canonId": "019de52c-fc70-70c8-b965-0584548a9204",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "big-number",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e6dbd1ec-ceb2-4307-a149-bd092c3b47c3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.496,
            "x": 0.045,
            "y": 0.093
          },
          "kind": "paragraph",
          "text": "Summit Hotel Properties (NYSE: INN) is a leading publicly-traded REIT focused on owning lodging assets with efficient operating models primarily in the upscale segment of the lodging industry",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "25ad2391-f67b-4c18-95c2-25b1d9a477f7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.402,
            "x": 0.045,
            "y": 0.92
          },
          "kind": "source-note",
          "text": "1. Based on 99 lodging assets owned as of February 28, 2024.\n2. Based on guestroom count for the 99 lodging assets owned as of February 28, 2024.\n3. Based on pro forma financials for the twelve months ended December 31, 2023.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5e0af7da-b53b-45d5-a09f-c4f70fd9c6d4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.033,
            "w": 0.402,
            "x": 0.54,
            "y": 0.92
          },
          "kind": "source-note",
          "text": "4. Based on STR data for the twelve months ending December 31, 2023. Assumes 97\nhotels (excludes Onera Fredericksburg & Nordic Lodge Steamboat Springs)",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.943+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "85e626d6-4b95-45b8-8de6-823922b04307",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Executive summary",
            "slug": "executive-summary",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61",
            "version": 1,
            "bodyDocId": null,
            "description": "A condensed view of the entire argument on a single slide / block.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "412ad5c5-f309-44f3-8000-0b18eba87558",
          "evidence": "executive_summary",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:02:54.382804+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 3,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 4,
      "type": "setup",
      "function": "establish_context",
      "rawType": "thesis_headline",
      "block": null,
      "metadata": {
        "slideType": "thesis_headline",
        "slideTypeCanon": {
          "name": "Thesis headline",
          "slug": "thesis_headline",
          "status": "active",
          "canonId": "019de52d-073a-70cb-b9f6-772a597bb5af",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 35,
        "componentCount": 6,
        "textChars": 64,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:22.011+00",
          "seconds": 3.628,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/4",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-4",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.11,
            "x": 0.86,
            "y": 0.04
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5e361a8b-fa1e-4a7f-9290-9d3fdb71530d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 1,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2060dc23-95f3-4dde-a406-d520cf691143",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.01,
            "x": 0.95,
            "y": 0.93
          },
          "kind": "other",
          "text": "4",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2cf4fb83-d22f-4afc-9a3f-92e2dce87f66",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.08,
            "x": 0.64,
            "y": 0.64
          },
          "kind": "paragraph",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c7ca49b0-07d2-4909-938f-021242099430",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.01,
            "w": 0.24,
            "x": 0.03,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "Canopy by Hilton – Dallas Frisco Station",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0269f06f-e4ec-4b13-b772-06a57672098b",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.19,
            "w": 0.26,
            "x": 0.64,
            "y": 0.71
          },
          "kind": "title",
          "text": "Investment\nThesis",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:22.011+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cbe78521-864a-4b2e-8b8e-e1574df40574",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 5,
      "type": "appendix",
      "function": "present_framework",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "present_framework",
        "functionCanon": {
          "name": "Present framework",
          "slug": "present_framework",
          "status": "active",
          "canonId": "019de52d-1403-7667-9100-d2ac6709f750",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 74,
        "componentCount": 10,
        "textChars": 487,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:23.934+00",
          "seconds": 5.175,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/5",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-5",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.03,
            "w": 0.089,
            "x": 0.873,
            "y": 0.05
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "446fcfa0-af7c-46ca-9fbe-d1b85583d23e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 0.593,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1ab1a8ce-b108-4b43-b8f0-3abe1f4ad055",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.32,
            "x": 0.637,
            "y": 0.39
          },
          "kind": "list",
          "text": "02 Premier portfolio with broad geographic diversification and concentration in high growth sun belt markets",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "00400cdc-745d-4515-9002-310a3a04acda",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.32,
            "x": 0.637,
            "y": 0.668
          },
          "kind": "list",
          "text": "04 Well-positioned balance sheet and liquidity profile",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "017644ab-3618-4c5a-88e0-f5fd1a345b75",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.32,
            "x": 0.637,
            "y": 0.289
          },
          "kind": "list",
          "text": "01 Efficient operating model & best-in-class platform drives profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "19bdb3b7-4e11-4904-af75-bf9416b19f86",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.075,
            "w": 0.32,
            "x": 0.637,
            "y": 0.529
          },
          "kind": "list",
          "text": "03 Targeted capital allocation strategy with proven track record of external growth and capital recycling",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2ecbe4c2-ce07-4bd6-a70e-5e99a6208794",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.32,
            "x": 0.637,
            "y": 0.78
          },
          "kind": "list",
          "text": "05 Leading Environmental, Social, and Governance (ESG) program",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Numbered list",
              "slug": "numbered",
              "status": "active",
              "canonId": "019de52c-fcc0-7718-a284-a4250c805df2",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "numbered",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "774d3e55-c662-4e88-b915-a292ec9e2f09",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.017,
            "w": 0.01,
            "x": 0.953,
            "y": 0.935
          },
          "kind": "other",
          "text": "5",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e6ef5ff2-be02-4c7f-8af8-b9f9dfd8e556",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.012,
            "w": 0.202,
            "x": 0.029,
            "y": 0.975
          },
          "kind": "source-note",
          "text": "AC Hotel - Oklahoma City Bricktown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "488ffb46-beba-47ce-9b31-4938b205e685",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.107,
            "w": 0.32,
            "x": 0.637,
            "y": 0.098
          },
          "kind": "title",
          "text": "Proven Investment Strategy",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:23.934+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a548e64c-4662-481f-8c06-9a5d4e163e5d",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Action Titles",
            "slug": "action-titles",
            "status": "active",
            "bestFor": "Any decision-grade deliverable — strategy recommendation, board update, investment memo, M&A review, post-mortem — where the reader is being asked to agree, decide, or act and will skim the title bar at speed.",
            "canonId": "019dd956-ac70-700b-a608-ba58e78f5dcc",
            "version": 1,
            "bodyDocId": "816dad3c-9983-41c1-a86e-978ebd582841",
            "description": "The McKinsey-bred discipline of writing every slide title as a complete declarative sentence with a verb and an insight, not a topic label. Each title is a sub-claim that ladders up to the deck's governing thought; read in sequence, the titles reconstruct the executive summary.",
            "familyLabel": null,
            "categoryName": "Slide",
            "categorySlug": "slide"
          },
          "agent": "Architect",
          "layer": "slide",
          "agents": [
            "Architect"
          ],
          "matchId": "278d36d8-c5e2-4e1c-9dec-b8ede3ac2736",
          "evidence": "Proven Investment Strategy",
          "pageRefs": null,
          "priority": "Core",
          "whenToUse": "Any decision-grade deliverable — strategy recommendation, board update, investment memo, M&A review, post-mortem — where the reader is being asked to agree, decide, or act and will skim the title bar at speed.",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:02:54.485099+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 5,
          "whyItWorks": "Solves two failure modes at once. (1) The buried claim: action titles place the conclusion on the page before any analysis is read, so a busy reader doesn't reverse-engineer it from the chart. (2) The spineless deck: because each title is a claim, slides have to ladder up to the governing thought; logical gaps become visible as topic-shaped titles in a sequence that no longer reads as a story.",
          "antipattern": "Topic labels disguised as titles — Volume by quarter, Key findings, Pricing strategy, Margins have been impacted. No verb, or a passive verb with no agent, or a fact (Revenue grew 12%) without the so-what. Also: titles that overreach the chart's evidence, multi-claim X-grew-but-Y-fell welded titles, and mechanical repetition of the same X-drove-Y template across the deck.",
          "cardinality": null,
          "narrativePurpose": "Forces the deck to carry its argument in the title bar so a senior reader can extract the recommendation without opening a single slide; converts a binder of topics into a navigable pyramid where every slide is a node defending the apex."
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 6,
      "type": "setup",
      "function": "present_solution",
      "rawType": "unfair_advantage",
      "block": null,
      "metadata": {
        "slideType": "unfair_advantage",
        "slideTypeCanon": {
          "name": "Unfair advantage",
          "slug": "unfair_advantage",
          "status": "active",
          "canonId": "019de52d-0f56-744f-8bb4-c8a8cca240d6",
          "version": 1,
          "description": null
        },
        "function": "present_solution",
        "functionCanon": {
          "name": "Present solution",
          "slug": "present_solution",
          "status": "active",
          "canonId": "019de52d-15b8-71da-bd23-2b767850cbce",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 86,
        "componentCount": 10,
        "textChars": 1849,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.95,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:25.882+00",
          "seconds": 6.676,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/6",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-6",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.089,
            "x": 0.87,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cb6d556c-dce1-4f1b-ac3b-99b3e55a3975",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.28,
            "x": 0.38,
            "y": 0.74
          },
          "kind": "list",
          "text": "Independent Management Companies\nFlexible and favorable management terms across ten different management companies\nHigh degree of engagement with key management company personnel\nUse of independent platforms eliminates conflicts of interest",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "20a7f641-7c03-4ff0-bbb3-70e1100e7acf",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.13,
            "w": 0.24,
            "x": 0.712,
            "y": 0.413
          },
          "kind": "list",
          "text": "In-house Asset Management\nIntensive asset management process provides better oversight and accountability of management companies\nExhaustive due diligence approach facilitates value creation",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "22e1a1c8-d990-4ab0-802e-f81f6e7f2c96",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.279,
            "x": 0.048,
            "y": 0.413
          },
          "kind": "list",
          "text": "In-house Revenue Management\nConsistent on-site presence and collaboration with local management\nIndustry benchmarking and data analysis\nAnalyzing forward-looking data to proactively manage demand patterns",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "42223a9a-b87f-4a0c-b4da-b2ddf7bdf0aa",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.11,
            "w": 0.24,
            "x": 0.712,
            "y": 0.74
          },
          "kind": "list",
          "text": "Investment & Business Intelligence\nBusiness intelligence tools facilitate real-time data analytics\nData analytics used to implement revenue and asset management strategies designed to maximize hotel profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8995e08b-348f-42b5-ba81-7f7375a338bc",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.279,
            "x": 0.048,
            "y": 0.74
          },
          "kind": "list",
          "text": "In-house Design & Construction\nContinuous renovation planning and oversight to ensure minimum revenue displacement\nCost savings driven by fewer outsourcing needs for renovation activity\nIn-house design leads to more customized renovations which drives higher ROIs on capital investments",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bffd3d98-3c58-4fae-b580-fe45ab032ac1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.26,
            "w": 0.28,
            "x": 0.38,
            "y": 0.413
          },
          "kind": "list",
          "text": "Acquisitions & Development\nDeep network of industry relationships facilitates off market transactions\nLeverage in-house asset management and design & construction to optimize market positioning and capital investment\nPartnership with GIC facilitates expanded acquisition opportunities and enhanced underwriting rigor\nSelective mezzanine financing program with purchase options expands our shadow pipeline",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "dc7f1ad6-bf77-4ac2-9741-992523272fd6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.74,
            "x": 0.048,
            "y": 0.257
          },
          "kind": "paragraph",
          "text": "Summit's operating platform is built on its expertise and experience in revenue and asset management, design and construction, and capital allocation all underpinned by robust business intelligence and data analytics",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0bae4d38-4db9-4e69-9e35-b16d6d5b979d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.016,
            "w": 0.007,
            "x": 0.953,
            "y": 0.936
          },
          "kind": "source-note",
          "text": "6",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "273d2fcb-be41-4a67-b10f-2b96e102a932",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.119,
            "w": 0.69,
            "x": 0.046,
            "y": 0.084
          },
          "kind": "title",
          "text": "Efficient operating model and best-in-class platform drives profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.882+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3f1f6264-aee1-463a-b93a-a55aa742ce51",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 7,
      "type": "setup",
      "function": "present_solution",
      "rawType": "unfair_advantage",
      "block": null,
      "metadata": {
        "slideType": "unfair_advantage",
        "slideTypeCanon": {
          "name": "Unfair advantage",
          "slug": "unfair_advantage",
          "status": "active",
          "canonId": "019de52d-0f56-744f-8bb4-c8a8cca240d6",
          "version": 1,
          "description": null
        },
        "function": "present_solution",
        "functionCanon": {
          "name": "Present solution",
          "slug": "present_solution",
          "status": "active",
          "canonId": "019de52d-15b8-71da-bd23-2b767850cbce",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 83,
        "componentCount": 10,
        "textChars": 834,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:25.493+00",
          "seconds": 6.183,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/7",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-7",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.046,
            "w": 0.106,
            "x": 0.86,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d7c2ec2c-5609-427b-bd98-d7558f195909",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.949,
            "w": 0.501,
            "x": 0.499,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3cedfce5-fdfc-4d77-9ad5-3578eb36bd69",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.046,
            "w": 0.379,
            "x": 0.06,
            "y": 0.325
          },
          "kind": "list",
          "text": "Rooms revenue driven model enhances GOP and EBITDA margins",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "169aade7-7672-4ae1-b146-9c10829a7d8e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.069,
            "w": 0.379,
            "x": 0.06,
            "y": 0.804
          },
          "kind": "list",
          "text": "Strong connectivity, representation and influence with all major brand partners through leadership roles on owner advisory councils",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "76195957-82ae-444a-a932-92ab8e044c5e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.092,
            "w": 0.379,
            "x": 0.06,
            "y": 0.473
          },
          "kind": "list",
          "text": "Proprietary, in-house revenue management platform partners with management companies to more effectively yield manage the portfolio and drive profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7fa3b164-a308-4567-a662-350ad5d32997",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.092,
            "w": 0.379,
            "x": 0.06,
            "y": 0.601
          },
          "kind": "list",
          "text": "Complexing of management and sales teams across the portfolio, particularly with the addition of the NewcrestImage portfolio, creates both revenue and expense synergies",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ab547d98-b348-4588-87ac-7edf38b2ed8f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.046,
            "w": 0.379,
            "x": 0.06,
            "y": 0.73
          },
          "kind": "list",
          "text": "Utilization of best practices from multiple hotel management partners drives operational efficiencies",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ae74f9c5-4cf1-47f9-b891-a456287a380f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.046,
            "w": 0.379,
            "x": 0.06,
            "y": 0.399
          },
          "kind": "list",
          "text": "Restructuring of the operating model during the pandemic leads to lower FTE run rate going forward",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b24d3354-3de0-4f43-a072-a92028da9614",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.17,
            "x": 0.51,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "AC Hotel - Atlanta Downtown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e61df9bc-ceaa-472c-a1b7-6efe57494e1f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.172,
            "w": 0.402,
            "x": 0.045,
            "y": 0.09
          },
          "kind": "title",
          "text": "Efficient operating model and best-in-class platform drives profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:25.493+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "13bcdef0-2154-4528-baa6-be6f1dd33137",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 8,
      "type": "evidence",
      "function": "show_traction",
      "rawType": "traction",
      "block": null,
      "metadata": {
        "slideType": "traction",
        "slideTypeCanon": {
          "name": "Traction",
          "slug": "traction",
          "status": "active",
          "canonId": "019de52d-0edd-72ab-820f-3ebc71a9c542",
          "version": 1,
          "description": null
        },
        "function": "show_traction",
        "functionCanon": {
          "name": "Show traction",
          "slug": "show_traction",
          "status": "active",
          "canonId": "019de52d-16a8-756a-9b38-a7d35420561d",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 63,
        "componentCount": 5,
        "textChars": 567,
        "nDataPoints": 13,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:24.714+00",
          "seconds": 4.407,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/8",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-8",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.736,
            "w": 0.455,
            "x": 0.519,
            "y": 0.104
          },
          "kind": "chart",
          "text": "Cumulative RevPAR Growth: Summit Pro Forma Portfolio vs. STR Upscale (1)\nSummit\nSTR Upscale\n48%\n35%\n37%\n15%\n2.7% CAGR\n1.2% CAGR",
          "attrs": {
            "data_points": "2011-2023",
            "series_names": [
              "Summit",
              "STR Upscale"
            ],
            "x_axis_label": "Year End",
            "y_axis_label": "Cumulative RevPAR Growth"
          },
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Line chart",
              "slug": "line",
              "status": "active",
              "canonId": "019de52c-ff62-778f-8f6c-a952ceae8677",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "line",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.714+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ca9c88df-e6a0-443e-8347-6d19c7bb4446",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.397,
            "w": 0.499,
            "x": 0.001,
            "y": 0.483
          },
          "kind": "image",
          "text": "Courtyard - Fort Worth Downtown Blackstone",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.714+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4b8aba66-5312-4298-8a8d-65a35fcba01b",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.099,
            "w": 0.43,
            "x": 0.045,
            "y": 0.313
          },
          "kind": "paragraph",
          "text": "Summit has a track record of outperformance with cumulative RevPAR growth, exceeding the STR Upscale chain scale benchmark by a 150-basis point CAGR over the 12 years since the Company's IPO.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.714+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "45f9dd52-d6f3-49b6-ade5-00970329228e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.034,
            "w": 0.374,
            "x": 0.045,
            "y": 0.925
          },
          "kind": "source-note",
          "text": "1. Based on the Smith Travel Research Lodging Review and Summit's full year reported pro forma RevPAR growth for the applicable years.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.714+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7db1e82e-9a1e-4b96-b790-67313af6833c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.159,
            "w": 0.419,
            "x": 0.045,
            "y": 0.092
          },
          "kind": "title",
          "text": "Efficient operating model and best-in-class platform drives profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:24.714+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bfb05151-4fbb-40f2-97c2-6592aade20d8",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 9,
      "type": "setup",
      "function": "present_solution",
      "rawType": "unfair_advantage",
      "block": null,
      "metadata": {
        "slideType": "unfair_advantage",
        "slideTypeCanon": {
          "name": "Unfair advantage",
          "slug": "unfair_advantage",
          "status": "active",
          "canonId": "019de52d-0f56-744f-8bb4-c8a8cca240d6",
          "version": 1,
          "description": null
        },
        "function": "present_solution",
        "functionCanon": {
          "name": "Present solution",
          "slug": "present_solution",
          "status": "active",
          "canonId": "019de52d-15b8-71da-bd23-2b767850cbce",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 81,
        "componentCount": 7,
        "textChars": 836,
        "nDataPoints": 7,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:26.431+00",
          "seconds": 5.903,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/9",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-9",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.51,
            "w": 0.449,
            "x": 0.045,
            "y": 0.33
          },
          "kind": "chart",
          "text": "Full Year 2023 Hotel EBITDA Margin +180 bps +550 bps +620 bps 35.6% 33.8% 30.1% 29.4% Summit Select-Service Peers All Peers Full-Service Peers",
          "attrs": {
            "chart_type": "bar",
            "series_names": [
              "Summit",
              "Select-Service Peers",
              "All Peers",
              "Full-Service Peers"
            ],
            "x_axis_labels": [
              "Summit",
              "Select-Service Peers",
              "All Peers",
              "Full-Service Peers"
            ],
            "y_axis_labels": [
              "35.6%",
              "33.8%",
              "30.1%",
              "29.4%"
            ]
          },
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4b0e18e8-2408-4db9-998b-50628dfefc37",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.049,
            "w": 0.095,
            "x": 0.87,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "93f48169-f8c4-40fa-8dac-4191b63d7bf6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.899,
            "w": 0.5,
            "x": 0.499,
            "y": 0.001
          },
          "kind": "image",
          "text": "Courtyard - Atlanta Downtown",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d999c4d3-6b95-49e2-b9c4-ae8196d31a16",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.016,
            "w": 0.914,
            "x": 0.045,
            "y": 0.919
          },
          "kind": "source-note",
          "text": "1. Summit based on the pro forma twelve-month financials ending December 31, 2023, for the 99 lodging assets owned as of February 28, 2024.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8a7ede1c-1caa-490a-a51a-cad813832682",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.016,
            "w": 0.914,
            "x": 0.045,
            "y": 0.953
          },
          "kind": "source-note",
          "text": "3. Full-service peer data based on the aggregate trailing twelve-month financials ending Q3 2023 for comparable portfolio revenue and hotel EBITDA reported for the following peers: AHT, BHR, DRH, HST, PK, PEB, RHP, SHO, and XHR.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b166796e-c217-46b7-b94f-1153766e15e0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.016,
            "w": 0.914,
            "x": 0.045,
            "y": 0.936
          },
          "kind": "source-note",
          "text": "2. Select-service peer data based on the aggregate trailing twelve-month financials ending Q3 2023 for comparable portfolio revenue and hotel EBITDA reported for the following peers: APLE, CLDT, and RLJ.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ead17477-6406-4be9-8f9a-961f18720ede",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.187,
            "w": 0.419,
            "x": 0.045,
            "y": 0.094
          },
          "kind": "title",
          "text": "Efficient operating model and best-in-class platform drives profitability",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:26.431+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cd18e721-58cd-4e3a-8125-85df95d57daa",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 9,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 4,
          "name": "Solution",
          "beatId": "24a2de82-bf58-4707-81ed-45ab49f805bb",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Solution",
            "slug": "sequoia-pitch-solution",
            "status": "active",
            "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents the company's investment thesis, efficient operating model, and premier portfolio",
          "position": 1,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Turn",
            "slug": "turn",
            "status": "active",
            "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54",
            "version": 1,
            "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 10,
      "type": "setup",
      "function": "establish_context",
      "rawType": "geographic_map",
      "block": null,
      "metadata": {
        "slideType": "geographic_map",
        "slideTypeCanon": {
          "name": "Geographic map",
          "slug": "geographic_map",
          "status": "active",
          "canonId": "019de52d-09de-7153-8845-584c1a9d0c83",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 76,
        "componentCount": 6,
        "textChars": 839,
        "nDataPoints": 10,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:27.841+00",
          "seconds": 5.853,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/10",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-10",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.58,
            "w": 0.619,
            "x": 0.349,
            "y": 0.256
          },
          "kind": "image",
          "text": "Map of the United States showing lodging asset locations with circles indicating guestroom count, highlighting the Sun Belt region.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Map",
              "slug": "map",
              "status": "active",
              "canonId": "019de52c-fe4d-77bd-b0a4-d72d58b9e5a4",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "map",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3da14f77-ff90-4359-bc5b-38925a5d2a28",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.018,
            "w": 0.196,
            "x": 0.045,
            "y": 0.823
          },
          "kind": "list",
          "text": "Current lodging assets",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "49f6b2e2-8805-4aa0-87c6-e04c08f10e2d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.099,
            "w": 0.29,
            "x": 0.045,
            "y": 0.256
          },
          "kind": "paragraph",
          "text": "No single asset contributes more than 4% to our portfolio, and Dallas is the only market that contributes >10%. Each individual Dallas submarket contributes <5%. (1)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "57201db5-9a54-4acd-ab40-22a861b417db",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.66,
            "x": 0.045,
            "y": 0.91
          },
          "kind": "source-note",
          "text": "1. Based on December 31, 2023, trailing twelve-month EBITDA for 99 lodging assets owned as of February 28, 2024.\n2. Based on guestroom count as a percent of the total MSA for 99 lodging assets owned as of February 28, 2024.\nNote: Guestroom count used to determine circle size.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5fac616e-b245-4161-acf7-7fcecad02dc2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.297,
            "w": 0.27,
            "x": 0.045,
            "y": 0.42
          },
          "kind": "table",
          "text": "U.S. Markets, # of Rooms, % of Portfolio (2)\nTop 25, 9,103, 62%\nTop 50, 12,627, 85%\nSun Belt, 9,426, 64%\nUrban, 7,210, 49%\nTotal, 14,785, 100%",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "df790d56-5b2e-42bf-b086-11e35368b7af",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.106,
            "w": 0.899,
            "x": 0.045,
            "y": 0.093
          },
          "kind": "title",
          "text": "Premier portfolio with broad geographic diversification & concentration in high growth sun belt markets",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:27.841+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bc4e89f3-6173-4237-b413-a346b015f0e4",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 10,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 10,
          "name": "Market Size",
          "beatId": "def1d0d5-729a-401c-899e-cf09f9775ede",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Market Size",
            "slug": "sequoia-pitch-market-size",
            "status": "active",
            "canonId": "019dd9b8-20e6-729c-bc28-05442906d032",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents a geographic map with premier portfolio",
          "position": 2,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 11,
      "type": "setup",
      "function": "argue_timing",
      "rawType": "why_now",
      "block": null,
      "metadata": {
        "slideType": "why_now",
        "slideTypeCanon": {
          "name": "Why now",
          "slug": "why_now",
          "status": "active",
          "canonId": "019de52d-0f2e-718d-b8ad-256dd87582d0",
          "version": 1,
          "description": null
        },
        "function": "argue_timing",
        "functionCanon": {
          "name": "Argue timing (why now)",
          "slug": "argue_timing",
          "status": "active",
          "canonId": "019de52d-16f8-74de-9ec2-900be07d90dd",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 84,
        "componentCount": 7,
        "textChars": 1017,
        "nDataPoints": 48,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:29.108+00",
          "seconds": 7.046,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/11",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-11",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.06,
            "w": 0.34,
            "x": 0.618,
            "y": 0.77
          },
          "kind": "callout",
          "text": "Upscale demand growth forecasted to exceed supply growth by 130-140 bps through 2026",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": null,
            "subkind": {
              "name": "Primary callout",
              "slug": "primary",
              "status": "active",
              "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "primary",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b22fb290-94a4-43a4-8c37-8d5c2f482bd7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.51,
            "w": 0.299,
            "x": 0.659,
            "y": 0.19
          },
          "kind": "chart",
          "text": "Summit Portfolio Chain Scale Breakdown (2) 7% 14% 80% Upscale Upper-Midscale Other",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6bcfc012-d57f-4a79-b4e4-4bb3b3b97fe3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.402,
            "x": 0.048,
            "y": 0.918
          },
          "kind": "source-note",
          "text": "1. Based on CBRE Hotel Trends, Q3 2023 data as of November 2023.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e2517f97-2643-4f0e-9b90-21a6a1f412a6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.53,
            "x": 0.048,
            "y": 0.935
          },
          "kind": "source-note",
          "text": "2. Based on guestroom count for the 99 lodging assets owned as of February 28, 2024.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fcc4bcd8-f01e-4233-8606-9537405367ff",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.46,
            "w": 0.539,
            "x": 0.048,
            "y": 0.379
          },
          "kind": "table",
          "text": "CBRE (1) Total US Upscale Nov 2023 Supply Growth Demand Growth Variance Supply Growth Demand Growth Variance 2019 1.6% 2.0% 40 bps 4.2% 4.4% 20 bps 2020 1.0% -34.9% -3,590 bps 2.7% -40.8% -4,350 bps 2021 1.1% 36.3% 3,520 bps 3.3% 47.3% 4,400 bps 2022 0.5% 10.7% 1,020 bps 2.2% 15.2% 1,300 bps 2023E 0.4% 1.2% 80 bps 1.3% 3.9% 260 bps 2024E 0.8% 1.4% 60 bps 1.4% 2.8% 140 bps 2025E 0.9% 2.0% 110 bps 1.5% 2.8% 130 bps 2026E 1.0% 1.8% 80 bps 1.5% 2.8% 130 bps 2024-2026 Avg 0.9% 1.7% 80 bps 1.5% 2.8% 130 bps",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "177f2a6d-90f6-477c-8321-4d28a036c54e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.539,
            "x": 0.048,
            "y": 0.293
          },
          "kind": "title",
          "text": "Muted industry supply growth expected to average <1% from 2024-2026, over 100 bps below the long-run average",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Action title",
              "slug": "action-title",
              "status": "active",
              "canonId": "019de52c-fb31-734c-a0f5-a3935b73135d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "action-title",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "356b12a4-483c-48b8-a6dc-2bbfdfbefd2e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.159,
            "w": 0.48,
            "x": 0.048,
            "y": 0.093
          },
          "kind": "title",
          "text": "Lodging industry set up for favorable supply & demand dynamics for the foreseeable future",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.108+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6e3d4472-2a05-41d6-acd9-ce0e4d96f354",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 11,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 11,
          "name": "Problem",
          "beatId": "eddbd47e-7b1a-44e8-9ecd-d15e963a0867",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Problem",
            "slug": "sequoia-pitch-problem",
            "status": "active",
            "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents industry supply growth expected to average <1% from 2024-2026",
          "position": 0,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Complication",
            "slug": "complication",
            "status": "active",
            "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579",
            "version": 1,
            "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [
        {
          "to": 11,
          "from": 11,
          "loop": {
            "name": "27_cost_of_inaction",
            "slug": "27-cost-of-inaction",
            "status": "active",
            "bestFor": "Urgent budget requests, compliance, risk mitigation",
            "canonId": "019dd956-70d1-7395-a15b-857ba858b394",
            "version": 1,
            "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21",
            "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
            "description": "Quantify what happens if the audience does nothing",
            "familyLabel": null
          },
          "matchId": "aaffaca0-d219-42a8-a696-b49d144d18b1",
          "evidence": "The document presents muted industry supply growth expected to average <1% from 2024-2026",
          "position": 0,
          "objective": "Highlight the cost of inaction in the current market",
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-16 23:15:16.235012+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": "doc-narrative-v1"
          }
        }
      ],
      "locked": true
    },
    {
      "page": 12,
      "type": "setup",
      "function": "establish_context",
      "rawType": "unfair_advantage",
      "block": null,
      "metadata": {
        "slideType": "unfair_advantage",
        "slideTypeCanon": {
          "name": "Unfair advantage",
          "slug": "unfair_advantage",
          "status": "active",
          "canonId": "019de52d-0f56-744f-8bb4-c8a8cca240d6",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 88,
        "componentCount": 9,
        "textChars": 820,
        "nDataPoints": 7,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.95,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:29.55+00",
          "seconds": 7.18,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/12",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-12",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.29,
            "w": 0.269,
            "x": 0.32,
            "y": 0.39
          },
          "kind": "chart",
          "text": "Hotel Type (1) 63% 24% 10% 3%",
          "attrs": {
            "segments": [
              {
                "label": "63%",
                "value": 0.63
              },
              {
                "label": "24%",
                "value": 0.24
              },
              {
                "label": "10%",
                "value": 0.1
              },
              {
                "label": "3%",
                "value": 0.03
              }
            ]
          },
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8df37212-4f76-492c-bcc9-2955d905fdfd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.29,
            "w": 0.269,
            "x": 0.048,
            "y": 0.39
          },
          "kind": "chart",
          "text": "Franchisor (1) 54% 24% 17% 5%",
          "attrs": {
            "segments": [
              {
                "label": "54%",
                "value": 0.54
              },
              {
                "label": "24%",
                "value": 0.24
              },
              {
                "label": "17%",
                "value": 0.17
              },
              {
                "label": "5%",
                "value": 0.05
              }
            ]
          },
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ad78755e-d4cf-4b79-a149-cf1f50dce9be",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.14,
            "w": 0.269,
            "x": 0.32,
            "y": 0.709
          },
          "kind": "image",
          "text": "COURTYARD Hilton Garden Inn Hampton HYATT PLACE HOMEWOOD SUITES by Hilton Residence INN canopy AC HOTELS MARRIOTT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo grid",
              "slug": "logo-grid",
              "status": "active",
              "canonId": "019de52c-fdd7-7409-93e5-81280a8ca215",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo-grid",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3e3d72ef-6d9a-4a75-a3bc-78f2f2579f86",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.308,
            "x": 0.02,
            "y": 0.729
          },
          "kind": "image",
          "text": "Marriott Hilton HYATT Other",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo grid",
              "slug": "logo-grid",
              "status": "active",
              "canonId": "019de52c-fdd7-7409-93e5-81280a8ca215",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo-grid",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bc80fe93-ca8e-457a-b1f8-3518b724d907",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.505,
            "w": 0.398,
            "x": 0.594,
            "y": 0.37
          },
          "kind": "image",
          "text": "Hyatt Place - Chicago Downtown",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1b716ab7-a0f0-457f-8b9d-1305f3b96a74",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.17,
            "w": 0.269,
            "x": 0.32,
            "y": 0.699
          },
          "kind": "list",
          "text": "Premium select service Extended stay Compact full service Lifestyle",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "58fa0f21-6946-4b89-82cc-2b8a08fb8df4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.829,
            "x": 0.048,
            "y": 0.229
          },
          "kind": "paragraph",
          "text": "Summit believes in the value of brand loyalty and partners with leading global brands that provide access to millions of enrolled loyalty members. We believe guests value premium standards, exceptional service, diverse types of stay offerings, and ease of reservation that result in a positive guest experience and recurring stays.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e472a7ec-c1e4-4160-9442-7e1c1293f49c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.49,
            "x": 0.048,
            "y": 0.933
          },
          "kind": "source-note",
          "text": "1. Based on guestroom count for the 99 lodging assets owned as of February 28, 2024.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a5513b13-57e0-46e2-9e86-869c56851095",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.099,
            "w": 0.743,
            "x": 0.048,
            "y": 0.093
          },
          "kind": "title",
          "text": "Premier portfolio with industry-leading brands offering diverse and distinctive accommodations and experiences",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.55+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f855134e-8852-44c7-bd17-53d130a497d2",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Audience Definition",
            "slug": "audience-definition",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756",
            "version": 1,
            "bodyDocId": null,
            "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?",
            "familyLabel": null,
            "categoryName": "Block",
            "categorySlug": "block"
          },
          "agent": "Storyteller",
          "layer": "slide",
          "agents": [
            "Storyteller"
          ],
          "matchId": "61287009-b153-43bb-b4c9-6f80e9c2dd39",
          "evidence": "Premier portfolio with industry-leading brands offering diverse and distinctive accommodations and experiences",
          "pageRefs": null,
          "priority": "Core",
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:02:50.554233+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 12,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        },
        {
          "tool": {
            "name": "Audience Persona",
            "slug": "audience-persona",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd956-7fe3-74e9-88b8-be0bea34f219",
            "version": 1,
            "bodyDocId": null,
            "description": "Detailed fictional profile of typical audience member including goals, frustrations, and context",
            "familyLabel": null,
            "categoryName": "Block",
            "categorySlug": "block"
          },
          "agent": "Storyteller",
          "layer": "slide",
          "agents": [
            "Storyteller"
          ],
          "matchId": "32191765-e6c0-4020-aa98-dfe4494bf6ad",
          "evidence": "Summit believes in the value of brand loyalty and partners with leading global brands that provide access to millions of enrolled loyalty members.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:02:50.593483+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 12,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 13,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 36,
        "componentCount": 6,
        "textChars": 65,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:29.673+00",
          "seconds": 5.234,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/13",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-13",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.0462963,
            "w": 0.09375,
            "x": 0.8710938,
            "y": 0.0462963
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c29a9217-7a76-4301-afc4-7342dd4e4f06",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 1,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c7af95d9-c937-467b-b6e8-73e70af1b7c9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.0222222,
            "w": 0.015625,
            "x": 0.953125,
            "y": 0.9259259
          },
          "kind": "other",
          "text": "13",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e75d3d17-d67c-4d39-83c5-dd4d38bb13f2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.0259259,
            "w": 0.0820313,
            "x": 0.6398438,
            "y": 0.6407407
          },
          "kind": "paragraph",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "22467aae-3a3e-4225-88de-648f1116bb0a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.0138889,
            "w": 0.2070313,
            "x": 0.0351563,
            "y": 0.9703704
          },
          "kind": "source-note",
          "text": "Canopy by Hilton - New Orleans Downtown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f63b2043-d368-4cce-a868-806518c7dc44",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.1875,
            "w": 0.2578125,
            "x": 0.640625,
            "y": 0.7083333
          },
          "kind": "title",
          "text": "Capital Allocation",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:29.673+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4be475aa-1386-4114-9c65-77bc3cbd10e9",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 14,
      "type": "setup",
      "function": "present_framework",
      "rawType": "business_model",
      "block": null,
      "metadata": {
        "slideType": "business_model",
        "slideTypeCanon": {
          "name": "Business model",
          "slug": "business_model",
          "status": "active",
          "canonId": "019de52d-0fa6-7104-86d0-e5781f8b8b45",
          "version": 1,
          "description": null
        },
        "function": "present_framework",
        "functionCanon": {
          "name": "Present framework",
          "slug": "present_framework",
          "status": "active",
          "canonId": "019de52d-1403-7667-9100-d2ac6709f750",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 97,
        "componentCount": 13,
        "textChars": 2112,
        "nDataPoints": 10,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:33.22+00",
          "seconds": 8.133,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/14",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-14",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.035,
            "w": 0.075,
            "x": 0.875,
            "y": 0.05
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e553719c-e8cc-4066-bf96-3f896827c52e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.19,
            "w": 0.279,
            "x": 0.203,
            "y": 0.273
          },
          "kind": "list",
          "text": "Locations in \"Markets that Matter\" with favorable supply/demand dynamics and multiple demand generators\nEfficient operating models and value-add opportunities (i.e., property renovations, brand conversions, management changes)\nTarget product types that appeal to evolving guest preferences (i.e., initial glamping investment with the acquisition of Onera Fredericksburg in October 2022)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0f8bea8d-026d-4f35-bcbe-8e8bd7d4514c",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.19,
            "w": 0.279,
            "x": 0.675,
            "y": 0.54
          },
          "kind": "list",
          "text": "Higher risk-adjusted returns and utilization of in-house development expertise\nMezzanine lending program provides alternative pipeline for growth which typically earns current yields of 10%-14% and provides for the future option to acquire assets at a fixed price (i.e., initial mezz loan converted into 90% equity stake in the dual-branded AC Hotel / Element Miami Brickell)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2e41c9ba-9a24-4418-9450-70a1194f2925",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.22,
            "w": 0.279,
            "x": 0.203,
            "y": 0.54
          },
          "kind": "list",
          "text": "Identify markets with unfavorable supply/demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds\nIn 2023, sold five hotels for $36.4 million at a blended capitalization rate of 2.5% after consideration of foregone capital expenditures.\nSubsequent to year-end, the Joint Venture with GIC completed the sale of one hotel for $10.3 million at a 2.9% capitalization rate after consideration of foregone capital expenditures.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4d6edf6f-feae-4fcb-9426-9769589051e9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.19,
            "w": 0.279,
            "x": 0.675,
            "y": 0.273
          },
          "kind": "list",
          "text": "Own 40 hotels totaling 5,454 guestrooms with a well-respected global real estate investor further validates Summit's platform and operating model\nFacilitates external growth strategy and creates a pipeline for future growth\nFee structure enhances yields and hold-period returns for the Company and is expected to cover ~15% of 2024 cash corporate G&A",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a2f7b7f1-554e-4252-85b1-6ee0b3e16b67",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.279,
            "x": 0.675,
            "y": 0.763
          },
          "kind": "list",
          "text": "Maintain liquidity, flexibility and a well-balanced maturity ladder spread across multiple years\nPrecedent for creative structuring and accretive issuance of OP units to preserve liquidity while remaining transactional\n~80% fixed rate debt and preferred equity capital structure",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bc3f7e42-c756-4067-a04e-021e36f41bb7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.12,
            "x": 0.047,
            "y": 0.54
          },
          "kind": "paragraph",
          "text": "Dispositions",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6b40d6c9-fc82-4edf-bde7-03a4d42780c3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.12,
            "x": 0.047,
            "y": 0.273
          },
          "kind": "paragraph",
          "text": "Acquisitions",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "73ce8b38-ac9a-43c4-b708-0fe648ff30a6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.12,
            "x": 0.518,
            "y": 0.54
          },
          "kind": "paragraph",
          "text": "Opportunistic development & mezzanine lending activity",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b41dec3a-15b8-42cf-a365-c8e24f27e4e1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.12,
            "x": 0.518,
            "y": 0.763
          },
          "kind": "paragraph",
          "text": "Flexible balance sheet",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ed256fb9-cf0e-44f3-97b7-a0ac855a2071",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.12,
            "x": 0.518,
            "y": 0.273
          },
          "kind": "paragraph",
          "text": "Joint Venture with GIC",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f4adb3e9-09f3-4342-98ae-bf4c79081146",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.015,
            "x": 0.94,
            "y": 0.935
          },
          "kind": "source-note",
          "text": "14",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "24712234-68b7-40d4-8c8c-218770326ff9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.64,
            "x": 0.047,
            "y": 0.095
          },
          "kind": "title",
          "text": "Targeted capital allocation strategy with proven track record of transaction driven value creation",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.22+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "548e0949-3018-4d99-8d88-6da201295880",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Deploy / Reshape / Invent (BCG)",
            "slug": "bcg-deploy-reshape-invent",
            "status": "active",
            "bestFor": null,
            "canonId": "019de52d-2044-72cc-b402-2511b4663d84",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "f67e4bde-ad68-44cc-aad0-7741bf952c39",
          "evidence": "Identify markets with unfavorable supply/demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 02:02:50.7128+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 14,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        },
        {
          "tool": {
            "name": "Three Pillars",
            "slug": "three-pillars",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd956-81ef-7455-a365-b234d95a6bbb",
            "version": 1,
            "bodyDocId": null,
            "description": "Three major supporting arguments that are MECE and address key concerns",
            "familyLabel": null,
            "categoryName": "Block",
            "categorySlug": "block"
          },
          "agent": "Architect",
          "layer": "slide",
          "agents": [
            "Architect"
          ],
          "matchId": "96729ef1-6da3-4c95-9d3d-2f68ba032614",
          "evidence": "Own 40 hotels totaling 5,454 guestrooms with a well-respected global real estate investor further validates Summit's platform and operating model",
          "pageRefs": null,
          "priority": "Core",
          "whenToUse": null,
          "confidence": 0.6,
          "extraction": {
            "at": "2026-07-17 02:02:50.755695+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 14,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 15,
      "type": "evidence",
      "function": "show_traction",
      "rawType": "traction",
      "block": null,
      "metadata": {
        "slideType": "traction",
        "slideTypeCanon": {
          "name": "Traction",
          "slug": "traction",
          "status": "active",
          "canonId": "019de52d-0edd-72ab-820f-3ebc71a9c542",
          "version": 1,
          "description": null
        },
        "function": "show_traction",
        "functionCanon": {
          "name": "Show traction",
          "slug": "show_traction",
          "status": "active",
          "canonId": "019de52d-16a8-756a-9b38-a7d35420561d",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 69,
        "componentCount": 5,
        "textChars": 865,
        "nDataPoints": 26,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:30.615+00",
          "seconds": 5.393,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/15",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-15",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.46,
            "w": 0.41,
            "x": 0.54,
            "y": 0.37
          },
          "kind": "chart",
          "text": "Acquisitions as a % of TEV (2)\n33%\n24%\n14%\n11%\n8%\n7%\n7%\n7%\n3%\n2%\n2%\n0%\n0%\nBHR INN XHR RHP SHO DRH APLE PEB CLDT HST RLJ AHT PK",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:30.615+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3b10b14e-8868-4754-8dfa-a95d352433d1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.46,
            "w": 0.45,
            "x": 0.047,
            "y": 0.37
          },
          "kind": "chart",
          "text": "Gross Acquisition Value (1)\n$800\n$526\n$461\n$366\n$330\n$328\n$315\n$232\n$207\n$59\n$31\n$0\n$0\nRHP INN BHR APLE PEB XHR HST SHO DRH RLJ CLDT AHT PK",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:30.615+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b72e7842-ce77-44d8-b341-c90292f9da18",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.049,
            "w": 0.902,
            "x": 0.047,
            "y": 0.229
          },
          "kind": "paragraph",
          "text": "Over the past two years, Summit has been highly acquisitive relative to the lodging peer set, setting the stage for outsized EBITDA growth over the next several years",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:30.615+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bbf45e95-02f0-4c50-bad7-7f88221dc71a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.85,
            "x": 0.047,
            "y": 0.915
          },
          "kind": "source-note",
          "text": "1. Amounts in millions. Completed acquisition activity for the period beginning January 1, 2022, through December 31, 2023.\n2. Summit TEV based on market close price as of February 23, 2024. Summit acquisition value is pro rata. Peer data from SNL based on Q3 2023 reported data available and market close price as of February 23, 2024.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:30.615+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7f47297e-4c54-4d57-b07e-455efce3fc71",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.675,
            "x": 0.045,
            "y": 0.09
          },
          "kind": "title",
          "text": "Targeted capital allocation strategy with proven track record of transaction driven value creation",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:30.615+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "31644443-cb4d-4794-b6dc-2938e8ad575f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 16,
      "type": "evidence",
      "function": "show_traction",
      "rawType": "traction",
      "block": null,
      "metadata": {
        "slideType": "traction",
        "slideTypeCanon": {
          "name": "Traction",
          "slug": "traction",
          "status": "active",
          "canonId": "019de52d-0edd-72ab-820f-3ebc71a9c542",
          "version": 1,
          "description": null
        },
        "function": "show_traction",
        "functionCanon": {
          "name": "Show traction",
          "slug": "show_traction",
          "status": "active",
          "canonId": "019de52d-16a8-756a-9b38-a7d35420561d",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 98,
        "componentCount": 17,
        "textChars": 2268,
        "nDataPoints": 16,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:35.89+00",
          "seconds": 9.813,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/16",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-16",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.085,
            "x": 0.875,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b2402229-977f-4075-830c-5788feba3005",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.43,
            "x": 0.517,
            "y": 0.5
          },
          "kind": "list",
          "text": "NewcrestImage Portfolio Acquired for $822MM\n27 Hotels, 2 Parking Garages, and Financial Incentives\nAttractive basis and increased exposure to high-growth markets\nDiscount to estimated replacement cost",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "017fe1a9-2aea-4aed-9953-7b6cafbe8a36",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.42
          },
          "kind": "list",
          "text": "Embassy Suites Tucson Paloma Village Acquired for $26MM\nComplexing opportunity with Homewood Suites Tucson\nMarket-leading hotel situated on six acres in high barrier to entry submarket",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "12b1d4f0-94e1-4c38-b01c-8a1e593c03ac",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.86
          },
          "kind": "list",
          "text": "Hyatt Place Dallas / Plano Sold for $10MM\nEstimated foregone capex of $5MM\nSold at 2.9% cap rate on T12 financials including foregone capex",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "241a03b8-73ec-4a81-812a-85f488be8bfe",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.34
          },
          "kind": "list",
          "text": "Residence Inn Steamboat Springs Acquired for $33MM\nNewly opened in December 2020\nDiscount to estimated replacement cost",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "457258c8-b02e-438e-8cfe-e941ba21db1a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.43,
            "x": 0.517,
            "y": 0.76
          },
          "kind": "list",
          "text": "Nordic Lodge Steamboat Springs Acquired for $14MM\nComplexing opportunity with Residence Inn Steamboat Springs\nImmediate value enhancement opportunities\nOptionality with an independent hotel",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4b73298e-25a0-4007-91db-80b7229c6af0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.43,
            "x": 0.05,
            "y": 0.77
          },
          "kind": "list",
          "text": "Joint venture fee structure provides enhanced investment returns\nAsset management fee\nProject management fee\nPromoted interest potential\nEqual to ~15% Cash Corp G&A in 2024",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "64553246-5264-4fb2-bd53-b361fd71d043",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.18
          },
          "kind": "list",
          "text": "Invested $275MM in Year 1\nAcquired Hampton Inn & Suites Silverthorne for $26MM\nAcquired 4-Hotel Portfolio for $249MM",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "71e4b6a8-d27d-4e37-99fc-79ad929d6883",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.43,
            "x": 0.05,
            "y": 0.23
          },
          "kind": "list",
          "text": "Joint venture with highly-respected global real estate investor\nFurther validates Summit's investment thesis and operating platform",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "73c2490f-5827-4b3a-9e21-34485aa318a5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.26
          },
          "kind": "list",
          "text": "Six-Hotel Portfolio Contributed to the Joint Venture\n$249MM Gross Transaction Value\nSummit sold 49% interest to the Joint Venture",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9e1d66ab-fc42-4cee-81d8-97d47ca3f10f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.6
          },
          "kind": "list",
          "text": "Hilton Garden Inn San Francisco Airport Sold for $75MM\nResulted in $21MM gain on sale during the 2.5-year hold period\nSold at 1.0% cap rate on T12 financials",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a5d34bbb-7b45-4c5a-a8c5-042d17d59dbe",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.11
          },
          "kind": "list",
          "text": "Joint Venture Formed in 2019\n51% summit / 49%\nSummit as General Partner & Asset Manager",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e2cea417-56f2-4bdf-8aac-fdacc5de1915",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.43,
            "x": 0.517,
            "y": 0.68
          },
          "kind": "list",
          "text": "Residence Inn Scottsdale North Acquired for $29MM\nComplexing opportunity with the Courtyard and SpringHill Suites Scottsdale\nFully renovated in 2019",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e916f185-cc0d-4b9c-b684-877b6c27d625",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.43,
            "x": 0.05,
            "y": 0.57
          },
          "kind": "list",
          "text": "Facilitates external growth & creates pipeline for future growth\nFee stream effectively reduces Summit's overall cost of capital\nAcquire deep asset and market knowledge base which facilitates seamless integration if Summit acquires unowned interest",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ed598937-b3b6-4b79-8ba7-3b15c1cdbf97",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.13,
            "w": 0.43,
            "x": 0.05,
            "y": 0.39
          },
          "kind": "list",
          "text": "Opportunistic investment approach\nNo pre-defined investment size parameters\nEliminates forced buying or selling\nAllows for opportunistic deployment and recycling of capital",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ffe246b4-2655-4d84-ae75-73443701be3d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.018,
            "w": 0.018,
            "x": 0.95,
            "y": 0.93
          },
          "kind": "source-note",
          "text": "16",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e546cd56-9134-4965-92d6-46f6fe373b12",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.44,
            "x": 0.049,
            "y": 0.09
          },
          "kind": "title",
          "text": "GIC Joint Venture Overview and Investment Highlights",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:35.89+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "46e01c49-c376-44ef-b03a-a2d19ac49c40",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Capital Allocation Framework",
            "slug": "capital-allocation-framework",
            "status": "active",
            "bestFor": null,
            "canonId": "d2901a21-50b9-4151-ab1b-55b432772ea1",
            "version": 1,
            "bodyDocId": null,
            "description": null,
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "2f1c5db1-90a7-42ca-9954-94efd0186b3b",
          "evidence": "Targeted capital allocation strategy with proven track record of transaction driven value creation",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 02:02:50.873841+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 16,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 17,
      "type": "evidence",
      "function": "show_traction",
      "rawType": "traction",
      "block": null,
      "metadata": {
        "slideType": "traction",
        "slideTypeCanon": {
          "name": "Traction",
          "slug": "traction",
          "status": "active",
          "canonId": "019de52d-0edd-72ab-820f-3ebc71a9c542",
          "version": 1,
          "description": null
        },
        "function": "show_traction",
        "functionCanon": {
          "name": "Show traction",
          "slug": "show_traction",
          "status": "active",
          "canonId": "019de52d-16a8-756a-9b38-a7d35420561d",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 54,
        "componentCount": 3,
        "textChars": 1025,
        "nDataPoints": 24,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:34.957+00",
          "seconds": 8.652,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/17",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-17",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.06,
            "w": 0.604,
            "x": 0.048,
            "y": 0.91
          },
          "kind": "source-note",
          "text": "1. Based on the 93 same store hotels for 2023 (excludes Hyatt Place Plano) and the Canopy New Orleans which was acquired in March 2022.\n2. Based on stabilized NOI divided by the purchase price..\n3. Based on pro forma RevPAR growth for the full year ended December 31, 2023.\n4. Onera Fredericksburg RevPAR not comparable due to unit changes throughout 2023 and ongoing phase II development.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.957+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "67c6e059-a059-4839-8ea8-4137392ebf9a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.61,
            "w": 0.87,
            "x": 0.066,
            "y": 0.21
          },
          "kind": "table",
          "text": "RECENT ACQUISITION HIGHLIGHTS\nSummit Same Store (1)\nAC / Element Miami\nOnera Fredericksburg\n2023 Acquisitions\nSummit Pro Forma\nKey Highlights\n# of Assets\n94\n2\n1\n2\n99\n5% Growth\n# of Guestrooms\n14,343\n264\n11\n167\n14,785\n3% Growth\nDate of Acquisition\n-\nQ2 2022\nQ4 2022\nQ2 2023\n-\n-\nGross Purchase Price\n-\n$89MM\n$5MM\n$43MM\n-\n~$137MM Invested\nPrice per Key\n-\n$337K\n$455K\n$256K\n-\nAttractive Basis of $309K / Key\nStabilized Yield (2)\n-\n8-9%\n11-13%\n9-10%\n-\nStrong Stabilized Yields\nRevPAR Growth (3)\n-\n8%\nN/A (4)\n7%\n-\nExceptional Growth Profile",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.957+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9f279064-d9df-4288-a431-25840f2f56b3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.086,
            "w": 0.847,
            "x": 0.048,
            "y": 0.09
          },
          "kind": "title",
          "text": "Targeted capital allocation strategy with proven track record of external growth and capital recycling",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.957+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ab0e47c5-8c30-4abf-8e7a-e25a344a77ec",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "6baddbf0-192a-4143-b25c-03080e43d92f",
          "evidence": "RECENT ACQUISITION HIGHLIGHTS",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:02:50.954534+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 17,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 18,
      "type": "appendix",
      "function": "establish_context",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 95,
        "componentCount": 17,
        "textChars": 1441,
        "nDataPoints": 3,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:36.788+00",
          "seconds": 10.181,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/18",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-18",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.42,
            "w": 0.49,
            "x": 0.498,
            "y": 0.54
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "359a13f0-8f49-4e9d-918c-d3524a1411db",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.219,
            "x": 0.536,
            "y": 0.119
          },
          "kind": "list",
          "text": "Recently Completed Renovations",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "237c566b-6b55-4caa-9f58-c0188140e745",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.201,
            "x": 0.783,
            "y": 0.119
          },
          "kind": "list",
          "text": "Ongoing & Upcoming Renovations",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2912775a-0207-4b9b-a1ea-6d562f7b69ac",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.249,
            "x": 0.214,
            "y": 0.52
          },
          "kind": "list",
          "text": "Typically displace <1% revenues in any given year",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "567897e4-3993-4082-8b11-2bb0589b3017",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.26,
            "w": 0.201,
            "x": 0.783,
            "y": 0.156
          },
          "kind": "list",
          "text": "Residence Inn Portland Hillsboro\nCourtyard New Haven\nHotel Indigo Asheville\nSpringHill Suites Dallas Downtown\nHyatt House Denver Tech Center\nCourtyard Grapevine\nCourtyard Fort Lauderdale",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6d1a6f47-a457-4b99-812d-78aa5572426e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.14,
            "w": 0.189,
            "x": 0.047,
            "y": 0.68
          },
          "kind": "list",
          "text": "In-house construction, design & procurement expertise",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "71611ae4-4feb-4182-92d8-dd652777e4d5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.249,
            "x": 0.214,
            "y": 0.422
          },
          "kind": "list",
          "text": "~$170MM invested in the past 2 years (~$140MM on a pro rata basis)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "892a3f7c-118e-4547-a27a-1148b9551ed2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.249,
            "x": 0.214,
            "y": 0.84
          },
          "kind": "list",
          "text": "In-house design and purchasing expertise provides for more cost-efficient renovations while achieving better finished product",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "968fa3e5-584f-4d10-973b-1549a3dfd609",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.14,
            "w": 0.189,
            "x": 0.047,
            "y": 0.422
          },
          "kind": "list",
          "text": "Proven track record & ongoing commitment to reinvesting in the portfolio",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b14dd5c0-6a49-4770-83c2-e7ef54ad8e52",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.249,
            "x": 0.214,
            "y": 0.68
          },
          "kind": "list",
          "text": "Team of engineers, architects, project managers, designers, and buyers that collectively have decades of experience",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bd2365e5-7348-4c7d-9e5e-6f0dad1f9352",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.37,
            "w": 0.219,
            "x": 0.536,
            "y": 0.156
          },
          "kind": "list",
          "text": "Hyatt Place Orlando Universal Studios\nResidence Inn Portland Downtown\nHyatt Place Orlando I-Drive\nCourtyard New Orleans / Metairie\nHyatt Place Denver Park Meadows\nHyatt Place Denver Tech Center\nStaybridge Suites Denver\nSpringHill Suites Dallas Downtown\nEmbassy Suites Tucson\nHilton Garden Inn San Jose Milpitas",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bd71cc8d-7774-466a-83d8-01ea295b7090",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.249,
            "x": 0.214,
            "y": 0.76
          },
          "kind": "list",
          "text": "Offers continuous planning and oversight to optimize project timing and minimize revenue displacement",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "bda71a80-149b-4d4c-8592-32a5ba0c3391",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.249,
            "x": 0.214,
            "y": 0.47
          },
          "kind": "list",
          "text": "Renovate ~10% of the portfolio on average in any given year",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ca0be435-90db-4f56-8412-3d02bf3a1a5e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.017,
            "w": 0.019,
            "x": 0.953,
            "y": 0.93
          },
          "kind": "other",
          "text": "18",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d14c643b-2a9c-4e2b-a6d8-9999c5082d45",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.42,
            "x": 0.047,
            "y": 0.248
          },
          "kind": "paragraph",
          "text": "Summit's in-house design, construction & asset management teams deliver comprehensive renovations while ensuring minimal revenue displacement in order to gain meaningful market share and grow EBITDA.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3b4d1f77-0898-40b4-92a3-68b00c69a8b9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.01,
            "w": 0.106,
            "x": 0.51,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "Marriott - Boulder",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4c4701ac-9b83-4a86-8089-a24b149d4aba",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.12,
            "w": 0.406,
            "x": 0.047,
            "y": 0.095
          },
          "kind": "title",
          "text": "Strategic CapEx Investment",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:36.788+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0006d64f-5c3f-42d4-8e72-109974c23dcf",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "List presentation",
            "slug": "list-presentation",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
            "version": 1,
            "bodyDocId": null,
            "description": "Bulleted, numbered, or checklist enumerations.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "3f8c2414-3522-4255-b80b-6396f51c3c74",
          "evidence": "list/bullet: Hyatt Place Orlando Universal Studios",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 02:02:51.033442+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 18,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 19,
      "type": "appendix",
      "function": "illustrate_case",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "illustrate_case",
        "functionCanon": {
          "name": "Illustrate case",
          "slug": "illustrate_case",
          "status": "active",
          "canonId": "019de52d-13b4-772c-bb73-1873612a7463",
          "version": 1,
          "description": null
        },
        "density": "dense",
        "densityScore": 63,
        "componentCount": 12,
        "textChars": 236,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:33.573+00",
          "seconds": 6.775,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/19",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-19",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.019,
            "w": 0.304,
            "x": 0.679,
            "y": 0.214
          },
          "kind": "callout",
          "text": "Best Renovation Award Winner – Hyatt Hotels",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Callout",
              "slug": "callout",
              "status": "active",
              "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2",
              "version": 1,
              "description": "Highlighted callout box."
            },
            "tool": null,
            "subkind": {
              "name": "Primary callout",
              "slug": "primary",
              "status": "active",
              "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "primary",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d8f35527-fe36-47b3-b8e5-af9ab26f441d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.039,
            "w": 0.089,
            "x": 0.87,
            "y": 0.049
          },
          "kind": "image",
          "text": "SUMMIT\nHOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5925f4bb-0680-427d-bfcb-260c73763f64",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.395,
            "w": 0.409,
            "x": 0.001,
            "y": 0.202
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0e35833b-e3a6-4ee5-87fb-f32812409c38",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.395,
            "w": 0.59,
            "x": 0.001,
            "y": 0.605
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "22dd8481-2b6f-4fdf-8c92-02379a2f573d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.395,
            "w": 0.4,
            "x": 0.599,
            "y": 0.605
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2ef6e512-20a0-404e-b5ef-3947f0353fe1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.395,
            "w": 0.581,
            "x": 0.418,
            "y": 0.202
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6749e7f1-0566-4832-9608-7f1f02590828",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.019,
            "w": 0.018,
            "x": 0.949,
            "y": 0.934
          },
          "kind": "other",
          "text": "19",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ab91a91b-5930-46b3-8000-a466973c2283",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.26,
            "x": 0.609,
            "y": 0.973
          },
          "kind": "source-note",
          "text": "Residence Inn - Portland Downtown RiverPlace",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0ceeaa12-3eee-4ada-89ee-d419a06e0812",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.26,
            "x": 0.046,
            "y": 0.973
          },
          "kind": "source-note",
          "text": "Hilton Garden Inn - Houston Energy Corridor",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "63f23a52-63f5-4f65-82ee-f6a2045f2c6e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.21,
            "x": 0.046,
            "y": 0.57
          },
          "kind": "source-note",
          "text": "Courtyard - New Orleans Metairie",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "736c4912-6f0c-4a25-a525-7c73be04278d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.18,
            "x": 0.429,
            "y": 0.57
          },
          "kind": "source-note",
          "text": "Hyatt Place - Orlando Universal",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a2640928-d972-484b-b8cf-278fd0e007aa",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.056,
            "w": 0.34,
            "x": 0.046,
            "y": 0.09
          },
          "kind": "title",
          "text": "Recent Renovations",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:33.573+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0b5b02d6-32be-42b7-b725-95908ba047c6",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 20,
      "type": "appendix",
      "function": "filler",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "filler",
        "functionCanon": {
          "name": "Filler",
          "slug": "filler",
          "status": "active",
          "canonId": "019de52d-1568-702b-ad12-428490978783",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 42,
        "componentCount": 7,
        "textChars": 76,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:32.736+00",
          "seconds": 4.516,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/20",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-20",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 1,
            "w": 1,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "3fa8014a-c065-4d14-b554-a611ff5953cb",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.025,
            "w": 0.095,
            "x": 0.6425,
            "y": 0.6408
          },
          "kind": "other",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "16cc666a-4950-4e42-8749-9eddfc46ee27",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.02,
            "x": 0.95,
            "y": 0.97
          },
          "kind": "other",
          "text": "20",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5fd055ed-f839-4bea-8b43-bb8ee3fb0f9b",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.01,
            "w": 0.095,
            "x": 0.875,
            "y": 0.06
          },
          "kind": "other",
          "text": "HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "afc978d5-e04e-479d-a92a-a182624ef691",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.025,
            "w": 0.095,
            "x": 0.875,
            "y": 0.035
          },
          "kind": "other",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c59d5e93-6c61-4523-b5d5-a019963692c5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.225,
            "x": 0.035,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "Hotel Indigo - Asheville Downtown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8614fb32-7526-4472-b6f8-5fc86b3aab75",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.1725,
            "w": 0.2008,
            "x": 0.6425,
            "y": 0.7008
          },
          "kind": "title",
          "text": "Balance Sheet",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:32.736+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f517a53f-c81e-4f4a-8136-47df93a296a7",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 22,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 20,
          "name": "Financials",
          "beatId": "6cdf91da-bd21-4d14-9fe3-fee38e8e9682",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents balance sheet information",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 21,
      "type": "appendix",
      "function": "establish_context",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 94,
        "componentCount": 10,
        "textChars": 1214,
        "nDataPoints": 20,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:37.42+00",
          "seconds": 7.87,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/21",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-21",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.35,
            "w": 0.51,
            "x": 0.046,
            "y": 0.49
          },
          "kind": "chart",
          "text": "No significant debt maturities until 2026\n$0 (2023), $15 (2024), $42 (2025), $288 (2026), $43, $205 (2027), $7, $200, $102, $25 (2028), $3, $200 (2029+)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Stacked bar chart",
              "slug": "bar-stacked",
              "status": "active",
              "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-stacked",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "feeb093b-b03f-4cf2-a0c6-7a49eb8d30a4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.23,
            "w": 0.23,
            "x": 0.73,
            "y": 0.14
          },
          "kind": "chart",
          "text": "Pro Rata Capitalization $2.2B",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b39984ed-d9c8-48c6-a148-93d39fc5714e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.15,
            "w": 0.12,
            "x": 0.617,
            "y": 0.156
          },
          "kind": "list",
          "text": "Net Debt: $1.1 Billion\nCommon Equity: $0.8 Billion\nPreferred Equity: $0.3 Billion",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6f030d82-2b2d-4ffb-bfb4-f277212f52a7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.08,
            "w": 0.468,
            "x": 0.046,
            "y": 0.376
          },
          "kind": "list",
          "text": "GIC JV Credit Facility\nJV Mortgage Debt\nConvertible Debt\nGIC JV NCI Term Loan\nMortgage Debt\nSenior Unsecured Revolver\nBofA Term Loan\nRegions Term Loan",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d1f56087-e758-49fd-8839-0f94763da7b0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.84,
            "x": 0.046,
            "y": 0.916
          },
          "kind": "source-note",
          "text": "1. Based on financials and pro rata debt as of December 31, 2023. Assumes fully-extended maturity dates for all loans. Includes new $200mm term loan as of February 26, 2024.\n2. Summit's market close price as of February 23, 2024. Amounts are pro rata.\n3. Based on 2024E Consensus EBITDA of $192.1 million and fixed charges of pro rata 2024E principal, interest expense, and preferred dividends on a pro forma basis.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ac89bf48-ca37-46e2-b80f-9ab2c5e25172",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.29,
            "w": 0.34,
            "x": 0.617,
            "y": 0.54
          },
          "kind": "table",
          "text": "Liquidity (Undrawn Revolver Capacity + Cash) ~$400MM\nPro Rata Net Debt Outstanding $1.1B\nPro Rata Net Debt / Total Enterprise Value 49%\nAvg. Length to Maturity >3.5 Yrs\nPro Forma Weighted Avg. Cost of Debt 4.75%\nFixed Charge Ratio (3) 2.6x",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "KPI table",
              "slug": "kpi",
              "status": "active",
              "canonId": "019de52d-0324-7799-a84e-d0885a8ad400",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "kpi",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cc5ebd73-d43e-464a-aa9f-cd12995ab611",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.24,
            "x": 0.617,
            "y": 0.504
          },
          "kind": "title",
          "text": "Pro Forma Key Highlights (1,2)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2b7bf1b5-6cd1-47fd-8252-bb7c8e4d9ad0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.32,
            "x": 0.046,
            "y": 0.339
          },
          "kind": "title",
          "text": "Pro Forma Debt Maturity Schedule (1)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "69e1a15d-fd44-4d53-b9fa-5c581021b80a",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.09,
            "w": 0.479,
            "x": 0.046,
            "y": 0.096
          },
          "kind": "title",
          "text": "Well-positioned balance sheet & liquidity profile",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "aac42555-e7ab-4453-b724-a4a23858249d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.26,
            "x": 0.617,
            "y": 0.115
          },
          "kind": "title",
          "text": "Pro Forma Capital Structure (1,2)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:37.42+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e4974e6a-719e-4a08-8097-4ce66e43083d",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Chart Selection Guide",
            "slug": "chart-selection-guide",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd956-b1a0-700b-ba17-0e16c4d5bcae",
            "version": 1,
            "bodyDocId": null,
            "description": "Choosing the right chart type for your data and message",
            "familyLabel": null,
            "categoryName": "Slide",
            "categorySlug": "slide"
          },
          "agent": "Designer",
          "layer": "slide",
          "agents": [
            "Designer"
          ],
          "matchId": "650ecd18-008b-429f-b3c1-02e7bb33999e",
          "evidence": "chart/bar-stacked: No significant debt maturities until 2026",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:02:51.112379+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 21,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 22,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 20,
          "name": "Financials",
          "beatId": "6cdf91da-bd21-4d14-9fe3-fee38e8e9682",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents balance sheet information",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 22,
      "type": "setup",
      "function": "present_solution",
      "rawType": "unfair_advantage",
      "block": null,
      "metadata": {
        "slideType": "unfair_advantage",
        "slideTypeCanon": {
          "name": "Unfair advantage",
          "slug": "unfair_advantage",
          "status": "active",
          "canonId": "019de52d-0f56-744f-8bb4-c8a8cca240d6",
          "version": 1,
          "description": null
        },
        "function": "present_solution",
        "functionCanon": {
          "name": "Present solution",
          "slug": "present_solution",
          "status": "active",
          "canonId": "019de52d-15b8-71da-bd23-2b767850cbce",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 97,
        "componentCount": 16,
        "textChars": 1190,
        "nDataPoints": 16,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:40.438+00",
          "seconds": 10.496,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/22",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-22",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.26,
            "w": 0.339,
            "x": 0.634,
            "y": 0.58
          },
          "kind": "chart",
          "text": "2.86% $75 2023 2.92% $125 2024 3.49% $51 $51 $51 2025 2026 2.60% $100 2027 2.56% $100 2028 2029+",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "26611c79-d4e7-474e-857d-ac3caa5f83e6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.36,
            "w": 0.24,
            "x": 0.047,
            "y": 0.48
          },
          "kind": "chart",
          "text": "49% 34% Summit Peer Avg",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6095df86-7860-4e6d-ba64-ac89dfb2e670",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.36,
            "w": 0.24,
            "x": 0.35,
            "y": 0.48
          },
          "kind": "chart",
          "text": "5% 40% Summit Peer Avg",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Vertical bar chart",
              "slug": "bar-vertical",
              "status": "active",
              "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-vertical",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "703af9b0-ef6b-4983-b1d1-0303e3c59ca1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.209,
            "w": 0.349,
            "x": 0.626,
            "y": 0.199
          },
          "kind": "chart",
          "text": "80% 20% Total variable debt Total fixed debt + preferred",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "fe5abc18-7f4a-4043-88bd-f45a9c8a6293",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.099,
            "x": 0.876,
            "y": 0.035
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8b61d124-54c1-4080-b8c9-7f3ca6cdab6f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.022,
            "x": 0.953,
            "y": 0.935
          },
          "kind": "other",
          "text": "22",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "552c4472-fe12-4827-8fc0-0413d1a44ce0",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.088,
            "w": 0.24,
            "x": 0.047,
            "y": 0.322
          },
          "kind": "paragraph",
          "text": "Exceptional Liquidity Profile Among the Industry's Best (1,2,3,4)\n~$400MM of total liquidity (49% of equity market cap) (1,2,3)",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4313fa16-2891-4105-ba61-5f2c5c32b075",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.108,
            "w": 0.204,
            "x": 0.634,
            "y": 0.092
          },
          "kind": "paragraph",
          "text": "Limited Variable-Rate Debt Exposure (1)\n~80% of pro rata debt and preferred with fixed interest rates",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "80ac97e5-b12e-4ff3-8251-c74d57f1664b",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.088,
            "w": 0.24,
            "x": 0.35,
            "y": 0.322
          },
          "kind": "paragraph",
          "text": "Minimal Near-Term Debt Maturities (1,3)\nOnly 5% of pro rata debt matures by year-end 2025 limiting interest rate refinancing risk",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "9d5a3057-73f8-4780-8703-6f8281a86a05",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.058,
            "w": 0.339,
            "x": 0.634,
            "y": 0.475
          },
          "kind": "paragraph",
          "text": "Extended Swap Maturities (1,5)\nBlended swap rate of 2.95% with an average maturity of 2.6 years",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e73bd362-6780-4bf5-b58f-eacaa9754899",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.928,
            "x": 0.047,
            "y": 0.89
          },
          "kind": "source-note",
          "text": "1. Based on financials and pro rata debt as of December 31, 2023. Assumes fully-extended maturity dates for all loans. Includes new $200mm term loan as of February 26, 2024.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "111271f7-bce1-45ae-b500-79719910d5f9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.43,
            "x": 0.047,
            "y": 0.935
          },
          "kind": "source-note",
          "text": "4. Total liquidity represented as a percent of equity market cap.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "120f5f30-8a48-4b3f-94b7-094c83616a57",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.49,
            "x": 0.047,
            "y": 0.92
          },
          "kind": "source-note",
          "text": "3. Peer data from SNL based on the Q3 2023 reported data available.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "69e1a8a1-3210-4a1f-be5c-50955053a6f4",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.504,
            "x": 0.047,
            "y": 0.905
          },
          "kind": "source-note",
          "text": "2. Summit's market close price as of February 23, 2024. Amounts are pro rata.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c3792efd-d178-4128-97b0-3485a3c429b7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.015,
            "w": 0.69,
            "x": 0.047,
            "y": 0.95
          },
          "kind": "source-note",
          "text": "5. Includes new $100mm JV swap issued in January 2024 and effective October 2024.",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c42de1b6-7a94-4228-bf00-763e99806001",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.108,
            "w": 0.49,
            "x": 0.047,
            "y": 0.092
          },
          "kind": "title",
          "text": "Balance sheet well-positioned for current environment",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.438+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "438d062e-27e7-4406-bf18-c54dcf227f58",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [
        {
          "to": 22,
          "arc": {
            "name": "The Sequoia Pitch",
            "slug": "sequoia-pitch",
            "status": "active",
            "bestFor": "Investor pitches, Series A/B, board presentations",
            "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444",
            "version": 1,
            "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49",
            "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask",
            "description": null,
            "familyLabel": null
          },
          "from": 20,
          "name": "Financials",
          "beatId": "6cdf91da-bd21-4d14-9fe3-fee38e8e9682",
          "matchId": "a5d532fc-1ad6-4eb2-afd0-a863b275ac8a",
          "beatType": {
            "name": "Financials",
            "slug": "sequoia-pitch-financials",
            "status": "active",
            "canonId": "019dd9b8-245d-74ce-8a5e-8094ec926a75",
            "version": 1,
            "description": null
          },
          "evidence": "The document presents balance sheet information",
          "position": 3,
          "isPrimaryArc": true,
          "parentBeatType": {
            "name": "Evidence",
            "slug": "evidence",
            "status": "active",
            "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a",
            "version": 1,
            "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development."
          },
          "alignedBlockIds": null,
          "matchConfidence": 0.8
        }
      ],
      "loops": [],
      "locked": true
    },
    {
      "page": 23,
      "type": "appendix",
      "function": "filler",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "filler",
        "functionCanon": {
          "name": "Filler",
          "slug": "filler",
          "status": "active",
          "canonId": "019de52d-1568-702b-ad12-428490978783",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 37,
        "componentCount": 6,
        "textChars": 84,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:34.537+00",
          "seconds": 4.462,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/23",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-23",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.1,
            "x": 0.87,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT\nHOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "baef576f-4e4a-4799-966d-7448e2c11650",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 1,
            "x": 0,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2894c8d9-b3e9-45e9-8cc6-2799ed8f48df",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.02,
            "x": 0.96,
            "y": 0.93
          },
          "kind": "other",
          "text": "23",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2de4725c-75e3-455c-9f91-dedc756cbbcd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.02,
            "w": 0.08,
            "x": 0.64,
            "y": 0.53
          },
          "kind": "paragraph",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "1b53ff26-fcb8-4977-b471-4236967774e8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.01,
            "w": 0.19,
            "x": 0.03,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "Embassy Suites - Amarillo Downtown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "def26ecd-604b-4537-8154-c4c7dc5d7de6",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.3,
            "w": 0.24,
            "x": 0.63,
            "y": 0.6
          },
          "kind": "title",
          "text": "Leading\nESG\nProgram",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:34.537+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5261326c-57e7-4380-bd72-b46972a79dda",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 24,
      "type": "appendix",
      "function": "summarize",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "summarize",
        "functionCanon": {
          "name": "Summarize",
          "slug": "summarize",
          "status": "active",
          "canonId": "019de52d-1541-704f-b86f-bf7b75056373",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 86,
        "componentCount": 7,
        "textChars": 3124,
        "nDataPoints": 26,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:39.357+00",
          "seconds": 8.438,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/24",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-24",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.17,
            "w": 0.48,
            "x": 0.479,
            "y": 0.68
          },
          "kind": "chart",
          "text": "Workforce Composition: Hotel Employees (4,5)\nGender: 63% Female, 37% Male\nRace & Ethnicity: 67% Minorities, 22% Caucasians, 11% Not Specified\nAge: 43% 30-50 years, 27% Under 30, 30% 50+ years",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0787f849-f057-48a6-8af5-7744a525f8a2",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.17,
            "w": 0.48,
            "x": 0.479,
            "y": 0.479
          },
          "kind": "chart",
          "text": "Workforce Composition: Corporate Employees (3)\nGender: 53% Male, 47% Female\nRace & Ethnicity: 78% Caucasians, 22% Minorities\nAge: 53% 30-50 years, 26% Under 30, 21% 50+ years",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Donut chart",
              "slug": "donut",
              "status": "active",
              "canonId": "019de52d-0006-752c-9528-0fef476b8004",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "donut",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a0fe9f5d-bd79-42d9-82c0-7532a41b4ad9",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.319,
            "w": 0.517,
            "x": 0.455,
            "y": 0.147
          },
          "kind": "list",
          "text": "Contributed over $140,000 and volunteered over 280 service hours to Partnerships for Children and other community-based organizations.\nAchieved a positive response of over 85% from employees that our company is a great place to work and has a positive work culture.\nIncreased the composition of our Independent Board Members that are from underrepresented groups from 29% in 2021 to 43% in 2022.\nIncreased the percentage of our corporate level minority workforce from 13% in 2021 to 22% in 2022.\nIncreased diversity of corporate level employees from underrepresented groups from 48% in 2021 to 56% in 2022.\nJoined the AHLA Foundation Board of Trustees and Industry Impact Leaders Committee to increase community engagement within our industry.\nEstablished a Hotel Training Day Program for employees to learn more about the day-to-day operations at our hotels and to foster teamwork and connectedness amongst employees and with our operating partners.\nIncreased connectedness with our operating partners and team by implementing an Employee Stay Program.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0c6135d5-6702-4be3-8c28-9cfffb5880bb",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.55,
            "w": 0.36,
            "x": 0.028,
            "y": 0.29
          },
          "kind": "list",
          "text": "Achieved a 15% market-based intensity reduction in emissions from 2019 baseline, equivalent to removing over 1,000 passenger vehicles from the road for one year.\nProduced a 7% intensity reduction in energy consumption from 2019 baseline.\nContracted for approximately 8,000 Green RECs equivalent to powering over 500 homes for one year.\nIncreased the number of properties with Electric Vehicle Supply Equipment in our portfolio from 7% in 2021 to 22% in 2022.\nAchieved an 8% intensity reduction in water consumption from 2019 baseline.\nIncreased the number of ENERGY STAR® Certified properties in our portfolio by 60% over the prior year.\nEndorsed the AHLA Responsible Stay initiative to demonstrate our commitment to sustainability and to align ourselves with industry initiatives.\nCompleted a portfolio-wide transition to bulk shower amenities to reduce waste.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "110a5cc1-d98d-4e12-b3c0-a582b52a7654",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.07,
            "w": 0.36,
            "x": 0.028,
            "y": 0.147
          },
          "kind": "paragraph",
          "text": "Over the past year, we have developed a climate action plan to achieve our emissions reduction target of 30% by year-end 2025. Our climate plan includes active data and energy management programs and systems to enhance building and operational efficiencies and continued investments in clean energy.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "23f61a36-c225-4888-b2bb-3e4d63841674",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.83,
            "x": 0.03,
            "y": 0.915
          },
          "kind": "source-note",
          "text": "1. Information is for the year ended December 31, 2022.\n2. Equivalent based on U.S. EPA's GHG Equivalencies Calculator: http://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator.\n3. Information is as of 12.31.2022, and is for regular, full-time employees of Summit Hotel Properties, Inc.\n4. Information is as of 12.31.2022 and reflects employees at 97 of our 103 hotels.\n5. Employees at our hotels are not employees of Summit Hotel Properties, Inc. but are employees of our third-party managers that operate our hotels.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "35b82b38-2161-4052-9a10-faa6eeb538d7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.36,
            "x": 0.028,
            "y": 0.08
          },
          "kind": "title",
          "text": "2022 ESG Highlights",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.357+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7ae611df-8e02-4a78-9ec2-6f98f2357c89",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "List presentation",
            "slug": "list-presentation",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
            "version": 1,
            "bodyDocId": null,
            "description": "Bulleted, numbered, or checklist enumerations.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "4a8d7fe1-abe4-46cc-9dbd-ec663d28b354",
          "evidence": "The slide contains a list of bullet points highlighting ESG achievements.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 02:02:36.493447+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 24,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 25,
      "type": "appendix",
      "function": "establish_context",
      "rawType": "other",
      "block": null,
      "metadata": {
        "slideType": "other",
        "slideTypeCanon": {
          "name": "Other (fallback)",
          "slug": "other",
          "status": "active",
          "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 85,
        "componentCount": 7,
        "textChars": 2995,
        "nDataPoints": 8,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:41.426+00",
          "seconds": 8.296,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/25",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-25",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.44,
            "w": 0.299,
            "x": 0.671,
            "y": 0.23
          },
          "kind": "list",
          "text": "Governance & Resilience Goals\nContinued compliance with all ethics and corporate governance requirements in 2023.\nMeet common industry stakeholders rights in 2023.\nFurther enhance policies to meet new SEC guidelines in 2023.\nConduct property risk assessments annually to ensure proper maintenance and safety.\nEvaluate additional investments in on-site battery storage systems for lodging properties located in areas with high environmental risk for increased resiliency in 2023-2024 program year.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "14fe288a-7888-4710-8fac-2e0b2a925074",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.607,
            "w": 0.299,
            "x": 0.047,
            "y": 0.23
          },
          "kind": "list",
          "text": "Environmental Stewardship Goals\nContinue to improve our building efficiencies by increasing the number of properties in our portfolio with guestroom automation systems by 35% over the prior year.\nIncrease our number of green certified lodging properties by 10% over 2022.\nEvaluate additional investments in clean energy, including on-site solar.\nContinue the transition to clean energy by further increasing the number of properties in our portfolio with electric vehicle supply equipment by 25% over the prior year.\nPilot a decommissioning project for recycling and upcycling hard and soft goods during renovations.\nDevelop a standard operating procedure for recycling and upcycling waste during renovations.\nTransition newly acquired properties to keyless entry and provide employee safety devices to each property within a year.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ca34ca5d-7b69-428d-b959-0338f6445b48",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.607,
            "w": 0.299,
            "x": 0.359,
            "y": 0.23
          },
          "kind": "list",
          "text": "Social Responsibility Goals\nContribute over $150,000 and 250 hours of volunteer service to support our local communities in 2023.\nSupport our community partner, Partnerships for Children, by building custom storage for their KING mentoring program musical instruments in 2023.\nHost a Holistic Health & Wellness Week to promote employee health & well-being, including social, physical, nutrition, financial and mental wellness segments in 2023.\nComplete biophilic and inclusive design upgrades to our corporate offices, including a wellness room in 2023.\nProvide at least 100 hours of increased development opportunities for underrepresented groups to promote their growth and scope of responsibility in 2023.\nComplete over 150 hours of human rights training, including harassment and human trafficking awareness and prevention training in 2023.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ce1b167f-e076-4112-8187-d2ba3f4000be",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.028,
            "x": 0.937,
            "y": 0.937
          },
          "kind": "other",
          "text": "25",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5f11eff7-12ed-4e82-ae97-16d662771e83",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.299,
            "x": 0.671,
            "y": 0.69
          },
          "kind": "paragraph",
          "text": "About Our Program\nWe established our ESG program in 2018 with the purpose of creating long-term value for our stakeholders by investing responsibility in our business, environment, people and communities. Our program aligns with GRI & TCFD frameworks to better identify ESG indictors that are material to our business. In 2021, we set performance reduction targets in alignment with the Greenhouse Gas Protocol (\"GHG Protocol\"), which supplies the world's most widely used greenhouse has standards. Our ESG program and reporting are overseen by our Board of Directors and senior management and a component of executive compensation is tied to the progress of our ESG program.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6802dcfd-273e-4083-9db1-7919102a1ae5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.49,
            "x": 0.047,
            "y": 0.937
          },
          "kind": "source-note",
          "text": "Note: Please see the Responsibility section of the Company's website for more information.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b917203c-06f1-4788-b3d2-4e0407f2644e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.11,
            "w": 0.604,
            "x": 0.047,
            "y": 0.07
          },
          "kind": "title",
          "text": "Leading Environmental, Social, & Governance (ESG) Program",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.426+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "73e80560-da06-4964-b4f2-5c0da2c23b3f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "List presentation",
            "slug": "list-presentation",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1",
            "version": 1,
            "bodyDocId": null,
            "description": "Bulleted, numbered, or checklist enumerations.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "67ddb6d0-e854-43c9-9a27-ef6185d53925",
          "evidence": "The slide contains lists of goals for social responsibility, environmental stewardship, and governance.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.8,
          "extraction": {
            "at": "2026-07-17 02:02:36.564321+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 25,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 26,
      "type": "setup",
      "function": "establish_context",
      "rawType": "team_bio",
      "block": null,
      "metadata": {
        "slideType": "team_bio",
        "slideTypeCanon": {
          "name": "Team bio",
          "slug": "team_bio",
          "status": "active",
          "canonId": "019de52d-0a7d-7394-ae5b-037478e71f1e",
          "version": 1,
          "description": null
        },
        "function": "establish_context",
        "functionCanon": {
          "name": "Establish context",
          "slug": "establish_context",
          "status": "active",
          "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 81,
        "componentCount": 7,
        "textChars": 1875,
        "nDataPoints": 1,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:40.123+00",
          "seconds": 6.222,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/26",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-26",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.13,
            "w": 0.108,
            "x": 0.047,
            "y": 0.256
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Headshot",
              "slug": "headshot",
              "status": "active",
              "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headshot",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "72e7b750-7389-41a3-a4ba-731ebd469eab",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.13,
            "w": 0.108,
            "x": 0.047,
            "y": 0.61
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Headshot",
              "slug": "headshot",
              "status": "active",
              "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headshot",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "aba64a1c-94bf-4f08-bdea-d08149ad85fd",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 1,
            "w": 0.407,
            "x": 0.593,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a02e2136-5c85-41a6-bb52-461ff98d7764",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.302,
            "w": 0.367,
            "x": 0.177,
            "y": 0.613
          },
          "kind": "list",
          "text": "William (\"Trey\") Conkling\nExecutive Vice President & Chief Financial Officer\nMr. Conkling joined Summit Hotel Properties in May 2021 as the Company's Executive Vice President & Chief Financial Officer.\nPrior to joining Summit, Mr. Conkling served as a Managing Director in the Real Estate, Gaming & Lodging Investment Banking group for Bank of America Merrill Lynch, where he oversaw the successful execution of transaction volume in excess of $190 billion including capital markets and mergers and acquisitions. Prior to his time at Bank of America Merrill Lynch, Mr. Conkling was with the investment banking unit of Bear, Stearns & Co. and previously worked in asset management for Host Hotels & Resorts.\nMr. Conkling earned a B.S. in Hotel and Restaurant Administration from Cornell University, School of Hotel Administration and an MBA from Cornell University, Johnson Graduate School of Management.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "262a92ca-b791-46cb-af77-663bb2233de8",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.319,
            "w": 0.367,
            "x": 0.177,
            "y": 0.259
          },
          "kind": "list",
          "text": "Jonathan Stanner\nPresident & Chief Executive Officer\nMr. Stanner joined Summit Hotel Properties in April 2017 and most recently served as the company's Executive Vice President and Chief Financial Officer.\nPrior to joining Summit, Mr. Stanner was Chief Executive Officer at Strategic Hotels & Resorts, a former NYSE-listed company acquired by an affiliate of The Blackstone Group in 2015. During his tenure at Strategic Hotels & Resorts from 2005 to 2015, Mr. Stanner also held various other senior positions with the company, including Chief Financial Officer, Senior Vice President Capital Markets, Acquisitions, and Treasurer and Director of Corporate Finance. Prior to his time at Strategic Hotels, Mr. Stanner was an investment banking analyst for Banc of America Securities.\nMr. Stanner holds both a B.S. in Management and an MBA from the Krannert School of Management at Purdue University.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e740ebd1-f481-46a3-8371-e34e0002cfa1",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.209,
            "x": 0.593,
            "y": 0.97
          },
          "kind": "source-note",
          "text": "Embassy Suites - Tucson Paloma Village",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "e04ea17c-a675-4b08-82f9-068728d63810",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.11,
            "w": 0.38,
            "x": 0.049,
            "y": 0.094
          },
          "kind": "title",
          "text": "Experienced Leadership Driving Success",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.123+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "19921de5-3958-4d45-bad7-b75e2b94f96f",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 27,
      "type": "setup",
      "function": "transition",
      "rawType": "section_divider",
      "block": null,
      "metadata": {
        "slideType": "section_divider",
        "slideTypeCanon": {
          "name": "Section divider",
          "slug": "section_divider",
          "status": "active",
          "canonId": "019de52d-066a-7402-9554-6ae504999041",
          "version": 1,
          "description": null
        },
        "function": "transition",
        "functionCanon": {
          "name": "Transition",
          "slug": "transition",
          "status": "active",
          "canonId": "019de52d-1365-7149-92aa-66df859e75fd",
          "version": 1,
          "description": null
        },
        "density": "balanced",
        "densityScore": 28,
        "componentCount": 5,
        "textChars": 65,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:40.069+00",
          "seconds": 5.923,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/27",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-27",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.046296296296296294,
            "w": 0.09930555555555555,
            "x": 0.8736111111111111,
            "y": 0.046296296296296294
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.069+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5c40f1b9-6f9c-4722-ab00-0cef3deebb3d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.018518518518518517,
            "w": 0.019444444444444445,
            "x": 0.9527777777777778,
            "y": 0.925
          },
          "kind": "other",
          "text": "27",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.069+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "f34cf64f-f02d-4c35-9bbd-a57d2029351f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.025,
            "w": 0.08472222222222223,
            "x": 0.6361111111111111,
            "y": 0.6407407407407407
          },
          "kind": "paragraph",
          "text": "SUMMIT",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.069+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c770c74e-16c5-40d3-942c-679fe428273e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013888888888888888,
            "w": 0.2597222222222222,
            "x": 0.030555555555555555,
            "y": 0.962037037037037
          },
          "kind": "source-note",
          "text": "AC Hotel by Marriott - Houston Downtown",
          "attrs": {
            "numbered": true
          },
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.069+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "b47c6f28-e827-4d86-b6f4-85a3793ca027",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16203703703703703,
            "w": 0.3263888888888889,
            "x": 0.6416666666666667,
            "y": 0.7092592592592591
          },
          "kind": "title",
          "text": "Operational\nUpdate",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:40.069+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "972166ff-ecf4-4235-99cf-886df0ec3de6",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Section divider",
            "slug": "section-divider",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4c66-707d-8d1f-6e14547134c7",
            "version": 1,
            "bodyDocId": null,
            "description": "A transitional slide marking the start of a new section.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "79f3ac3c-1b3f-4e01-95ba-8c643eada793",
          "evidence": "The slide serves as a divider between sections, marked by a title and a source note.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:02:36.669794+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 27,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 28,
      "type": "resolution",
      "function": "summarize",
      "rawType": "key_takeaways",
      "block": null,
      "metadata": {
        "slideType": "key_takeaways",
        "slideTypeCanon": {
          "name": "Key takeaways",
          "slug": "key_takeaways",
          "status": "active",
          "canonId": "019de52d-06e7-7674-a891-9f7de3b11b6d",
          "version": 1,
          "description": null
        },
        "function": "summarize",
        "functionCanon": {
          "name": "Summarize",
          "slug": "summarize",
          "status": "active",
          "canonId": "019de52d-1541-704f-b86f-bf7b75056373",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 91,
        "componentCount": 9,
        "textChars": 988,
        "nDataPoints": 17,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:41.608+00",
          "seconds": 6.716,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/28",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-28",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.04,
            "w": 0.099,
            "x": 0.863,
            "y": 0.04
          },
          "kind": "image",
          "text": "SUMMIT HOTEL PROPERTIES",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "4df4a45b-0f85-41f7-b991-bc05f333ea32",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.949,
            "w": 0.406,
            "x": 0.594,
            "y": 0
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "99588350-03aa-4666-97b5-b645970c079e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.056,
            "w": 0.339,
            "x": 0.205,
            "y": 0.44
          },
          "kind": "list",
          "text": "Strong pro forma hotel EBITDA growth (+6%)\nOperating expense growth of <1.5% POR in the second half of 2023",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "486f2af8-ed1a-48e2-8155-55ec0917bfb3",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.16,
            "w": 0.339,
            "x": 0.205,
            "y": 0.533
          },
          "kind": "list",
          "text": "No significant maturities until 2026 after consideration of $1.0B of financings completed since beginning of 2023\nTotal liquidity of nearly $400MM\n~80% of Summit's pro rata debt and preferreds is fixed-rate\nSince the beginning of 2023, $300MM of interest rate swaps entered into at a blended SOFR rate of 3.49%",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "58d4c159-44f1-4a2f-b20b-edee5eef9968",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.099,
            "w": 0.339,
            "x": 0.205,
            "y": 0.729
          },
          "kind": "list",
          "text": "Acquired two hotels through GIC joint venture for $43M at a 9.3% cap rate based on 2024 estimates\nSold six hotels, including the Hyatt Place Plano subsequent to year end, for $47M at a 2.6% cap rate after consideration of $31M of foregone capex",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "6737fa4f-5720-40ee-a76b-736e22b5e615",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.159,
            "w": 0.339,
            "x": 0.205,
            "y": 0.229
          },
          "kind": "list",
          "text": "Occupancy: 72.2% (+3.4%); ADR: $166 (+3.1%); RevPAR: $120 (+6.6%)\nThe NewcrestImage portfolio continues to produce exceptionally strong results\nRevPAR growth +13%; hotel EBITDA +15%\nMarket share grew over 500 basis points to a RevPAR index of 112",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "List",
              "slug": "list",
              "status": "active",
              "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2",
              "version": 1,
              "description": "Bullet or numbered list."
            },
            "tool": null,
            "subkind": {
              "name": "Bullet list",
              "slug": "bullet",
              "status": "active",
              "canonId": "019de52c-fc98-7169-a083-5cab805076ca",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bullet",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "930ffe4d-aed1-437d-9b9b-7aae595ea8a7",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.018,
            "x": 0.94,
            "y": 0.966
          },
          "kind": "other",
          "text": "28",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a2dafca2-ce44-447e-bf78-cadddee4d891",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.159,
            "x": 0.602,
            "y": 0.966
          },
          "kind": "source-note",
          "text": "Hyatt House - Orlando Universal",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ebcb8a2b-9073-4da3-aab6-eebbb6669870",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.05,
            "w": 0.402,
            "x": 0.046,
            "y": 0.09
          },
          "kind": "title",
          "text": "Full Year 2023 Highlights",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.608+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8f1781f0-f2d2-4f54-a9f6-6dfd6e27895c",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 29,
      "type": "resolution",
      "function": "size_opportunity",
      "rawType": "revenue_buildup",
      "block": null,
      "metadata": {
        "slideType": "revenue_buildup",
        "slideTypeCanon": {
          "name": "Revenue buildup",
          "slug": "revenue_buildup",
          "status": "active",
          "canonId": "019de52d-0acd-70b8-a81d-62d89840409b",
          "version": 1,
          "description": null
        },
        "function": "size_opportunity",
        "functionCanon": {
          "name": "Size opportunity",
          "slug": "size_opportunity",
          "status": "active",
          "canonId": "019de52d-147b-7568-8828-a74a27697618",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 82,
        "componentCount": 7,
        "textChars": 838,
        "nDataPoints": 10,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:41.429+00",
          "seconds": 6.273,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/29",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-29",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.05,
            "w": 0.106,
            "x": 0.87,
            "y": 0.04
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8cea1551-765d-43ec-84b3-b6c310d5383d",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.73,
            "w": 0.38,
            "x": 0.596,
            "y": 0.139
          },
          "kind": "image",
          "text": null,
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "cb0905a8-f21d-49fb-9956-6f5400dc75dc",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.017,
            "w": 0.018,
            "x": 0.953,
            "y": 0.937
          },
          "kind": "other",
          "text": "29",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Other",
              "slug": "other",
              "status": "active",
              "canonId": "019de52c-fa90-743c-8bf6-20d1fbe82b6d",
              "version": 1,
              "description": "Fallback when no canonical kind applies."
            },
            "tool": null,
            "subkind": {
              "name": "Unclassified",
              "slug": "unclassified",
              "status": "active",
              "canonId": "019de52d-05ca-77db-81fb-db7d4234bbc0",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "unclassified",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "5f16040c-cbb3-4a60-9d2c-4a1acd8b0758",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.013,
            "w": 0.136,
            "x": 0.84,
            "y": 0.864
          },
          "kind": "paragraph",
          "text": "Residence Inn - Steamboat Springs",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d6bb00c1-f094-42a5-be02-904cc86f1edb",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.539,
            "x": 0.045,
            "y": 0.893
          },
          "kind": "source-note",
          "text": "1. All pro forma information includes operating & financial results for 99 lodging assets owned as of February 28, 2024, as if each property had been owned by the Company since January 1, 2023, and will continue to be owned through the entire year ending Dec 31, 2024. As a result, the pro forma information includes operating & financial results for lodging assets acquired since Jan 1, 2023, which may include periods prior to the Company's ownership. Pro forma & non-GAAP financial measures are unaudited.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "a98072ac-ffe5-48dd-8d11-b7cd53dbd8db",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.359,
            "w": 0.539,
            "x": 0.045,
            "y": 0.35
          },
          "kind": "table",
          "text": "Full Year 2024\nLow\nHigh\nPro Forma RevPAR Growth\n2.00%\n4.00%\nAdjusted EBITDA\n$188,000\n$200,000\nAdjusted FFO\n$111,000\n$123,000\nAdjusted FFO per Diluted Unit\n$0.90\n$1.00\nCapital Expenditures, Pro Rata\n$65,000\n$85,000",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "c1d8aa3e-5997-4d8f-9d0b-d477726c821f",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.079,
            "w": 0.539,
            "x": 0.045,
            "y": 0.143
          },
          "kind": "title",
          "text": "Summit's 2024 RevPAR growth guidance midpoint in line with the Total U.S. forecast",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Title",
              "slug": "title",
              "status": "active",
              "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4",
              "version": 1,
              "description": "Slide title or headline."
            },
            "tool": null,
            "subkind": {
              "name": "Headline",
              "slug": "headline",
              "status": "active",
              "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "headline",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:41.429+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "23fb00e6-a5b1-4f3a-a726-dcb0bb14dd73",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Table data",
            "slug": "table-data",
            "status": "active",
            "bestFor": null,
            "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d",
            "version": 1,
            "bodyDocId": null,
            "description": "Tabular layouts of structured data.",
            "familyLabel": null,
            "categoryName": null,
            "categorySlug": null
          },
          "agent": null,
          "layer": "slide",
          "agents": null,
          "matchId": "ede53214-f7ea-4178-aa69-8d27dcd13be6",
          "evidence": "The slide includes a table with financial data.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.7,
          "extraction": {
            "at": "2026-07-17 02:02:36.773799+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 29,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": "common",
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 30,
      "type": "resolution",
      "function": "size_opportunity",
      "rawType": "market_sizing",
      "block": null,
      "metadata": {
        "slideType": "market_sizing",
        "slideTypeCanon": {
          "name": "Market sizing",
          "slug": "market_sizing",
          "status": "active",
          "canonId": "019de52d-08c8-756c-8664-733b73a7ee7b",
          "version": 1,
          "description": null
        },
        "function": "size_opportunity",
        "functionCanon": {
          "name": "Size opportunity",
          "slug": "size_opportunity",
          "status": "active",
          "canonId": "019de52d-147b-7568-8828-a74a27697618",
          "version": 1,
          "description": null
        },
        "density": "overcrowded",
        "densityScore": 84,
        "componentCount": 7,
        "textChars": 1108,
        "nDataPoints": 20,
        "notes": null,
        "elementsJson": null,
        "confidence": 0.9,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:42.794+00",
          "seconds": 6.17,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/30",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-30",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.36,
            "w": 0.53,
            "x": 0.048,
            "y": 0.51
          },
          "kind": "chart",
          "text": "88 Hotel Comparable Portfolio RevPAR Recapture vs 2019 (2)\nFY 2020: Weekday 40%, Weekend 46%, Comparable 43%, RevPAR YoY -57%\nFY 2021: Weekday 56%, Weekend 94%, Comparable 66%, RevPAR YoY +54%\nFY 2022: Weekday 82%, Weekend 106%, Comparable 91%, RevPAR YoY +37%\nFY 2023: Weekday 89%, Weekend 105%, Comparable 96%, RevPAR YoY +6%",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Grouped bar chart",
              "slug": "bar-grouped",
              "status": "active",
              "canonId": "019de52c-ff3b-751e-a8ff-f21ff11097b1",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "bar-grouped",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "d13e814f-f1fe-49c0-8438-9fde3415d8e5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.28,
            "w": 0.35,
            "x": 0.61,
            "y": 0.09
          },
          "kind": "chart",
          "text": "% of Portfolio by STR Location (1)\nUrban 48%, Suburban 26%, Airport 11%, Resort 11%, Other 4%",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Chart",
              "slug": "chart",
              "status": "active",
              "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8",
              "version": 1,
              "description": "Quantitative chart."
            },
            "tool": null,
            "subkind": {
              "name": "Pie chart",
              "slug": "pie",
              "status": "active",
              "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "pie",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ab5e732b-8f6d-4bd4-b7af-f65d70e38863",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.45,
            "w": 0.38,
            "x": 0.595,
            "y": 0.41
          },
          "kind": "image",
          "text": "AC Hotel - Houston Downtown",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Photo",
              "slug": "photo",
              "status": "active",
              "canonId": "019de52c-fd37-757f-b4a8-ca26d4888875",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "photo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "7a0d5f03-badf-4fff-9710-0b70411a426e",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.04,
            "w": 0.53,
            "x": 0.048,
            "y": 0.435
          },
          "kind": "paragraph",
          "text": "Strengthening corporate and group demand continue to drive improving fundamentals in key urban sun belt markets such as Dallas, Houston, and Atlanta.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "2c50c180-3698-4ecf-b748-0b7fc29700a5",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.06,
            "w": 0.53,
            "x": 0.048,
            "y": 0.233
          },
          "kind": "paragraph",
          "text": "The greatest opportunity for further RevPAR acceleration is from weekday performance improvement, likely to be driven by the urban location type through the business transient and corporate group segments.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4",
              "version": 1,
              "description": "Single prose block in the body of a slide."
            },
            "tool": null,
            "subkind": {
              "name": "Paragraph",
              "slug": "paragraph",
              "status": "active",
              "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "paragraph",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "ce547b9a-24da-4086-8a6f-0202c2eaf310",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.03,
            "w": 0.44,
            "x": 0.048,
            "y": 0.918
          },
          "kind": "source-note",
          "text": "1. Based on pro forma financials for the 99 lodging assets owned as of February 28, 2024.\n2. Based on pro forma financials for the 88 comparable lodging assets owned as of February 28, 2024.",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Source note",
              "slug": "source-note",
              "status": "active",
              "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948",
              "version": 1,
              "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered."
            },
            "tool": null,
            "subkind": null,
            "framework": null
          },
          "subkind": null,
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "8e9753ff-80d2-42d4-bcb1-34ca1f4fddaa",
          "parentComponentId": null
        },
        {
          "bbox": {
            "h": 0.11,
            "w": 0.46,
            "x": 0.048,
            "y": 0.317
          },
          "kind": "table",
          "text": "FYE 2023 RevPAR (2)\nRevPAR Growth vs 2022: Weekday 8%, Weekend 2%\nRevPAR Recapture vs 2019: Weekday 89%, Weekend 105%",
          "attrs": {},
          "canon": {
            "kind": {
              "name": "Table",
              "slug": "table",
              "status": "active",
              "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28",
              "version": 1,
              "description": "Tabular data layout."
            },
            "tool": null,
            "subkind": {
              "name": "Data table",
              "slug": "data",
              "status": "active",
              "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "data",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:42.794+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "993163ac-7d98-410b-8371-76b2c0b61393",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    },
    {
      "page": 31,
      "type": "setup",
      "function": "front_matter",
      "rawType": "cover",
      "block": null,
      "metadata": {
        "slideType": "cover",
        "slideTypeCanon": {
          "name": "Cover",
          "slug": "cover",
          "status": "active",
          "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410",
          "version": 1,
          "description": null
        },
        "function": "front_matter",
        "functionCanon": {
          "name": "Front matter",
          "slug": "front_matter",
          "status": "active",
          "canonId": "019de52d-133d-73f0-9e26-201eda96b098",
          "version": 1,
          "description": null
        },
        "density": "sparse",
        "densityScore": 0,
        "componentCount": 1,
        "textChars": 0,
        "nDataPoints": 0,
        "notes": null,
        "elementsJson": null,
        "confidence": 1,
        "extraction": {
          "model": "google/gemini-2.5-flash",
          "runId": null,
          "at": "2026-05-01 23:14:39.675+00",
          "seconds": 2.073,
          "promptVersion": "v2-canon-conditioned"
        }
      },
      "links": {
        "slide": "/slides/019de518-3010-72e4-89ca-2bdd2671c18b/31",
        "deck": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b",
        "deckAnchor": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b#slide-31",
        "deckJson": "/decks/019de518-3010-72e4-89ca-2bdd2671c18b.json"
      },
      "components": [
        {
          "bbox": {
            "h": 0.128,
            "w": 0.334,
            "x": 0.333,
            "y": 0.436
          },
          "kind": "image",
          "text": null,
          "attrs": null,
          "canon": {
            "kind": {
              "name": "Image",
              "slug": "image",
              "status": "active",
              "canonId": "019de52c-f978-701f-a720-51d029d769e7",
              "version": 1,
              "description": "Photo, illustration, screenshot or icon."
            },
            "tool": null,
            "subkind": {
              "name": "Logo",
              "slug": "logo",
              "status": "active",
              "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302",
              "version": 1,
              "description": null
            },
            "framework": null
          },
          "subkind": "logo",
          "groupRole": null,
          "confidence": null,
          "extraction": {
            "at": "2026-05-01 23:14:39.675+00",
            "model": "google/gemini-2.5-flash",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "componentId": "0a189f63-f1a4-4245-b922-b13e2f6aa516",
          "parentComponentId": null
        }
      ],
      "metrics": [],
      "tools": [
        {
          "tool": {
            "name": "Slide recipe: Cover",
            "slug": "cover-slide",
            "status": "active",
            "bestFor": null,
            "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3",
            "version": 1,
            "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65",
            "description": "The first ten seconds. Build it deliberately.",
            "familyLabel": "slide-recipe",
            "categoryName": "Slide",
            "categorySlug": "slide"
          },
          "agent": "designer",
          "layer": "slide",
          "agents": [
            "designer"
          ],
          "matchId": "30dd99c2-1fe6-4961-8fd8-5df0845017e1",
          "evidence": "The slide serves as a cover page with no text, only a logo or image.",
          "pageRefs": null,
          "priority": null,
          "whenToUse": null,
          "confidence": 0.9,
          "extraction": {
            "at": "2026-07-17 02:02:36.878675+00",
            "model": "or:meta-llama/llama-4-scout",
            "runId": null,
            "seconds": null,
            "promptVersion": null
          },
          "pageNumber": 31,
          "whyItWorks": null,
          "antipattern": null,
          "cardinality": null,
          "narrativePurpose": null
        }
      ],
      "frameworks": [],
      "arcBeats": [],
      "loops": [],
      "locked": true
    }
  ],
  "arcBeats": [
    {
      "from": 11,
      "to": 11,
      "label": "Problem",
      "description": "The document presents industry supply growth expected to average <1% from 2024-2026"
    },
    {
      "from": 4,
      "to": 9,
      "label": "Solution",
      "description": "The document presents the company's investment thesis, efficient operating model, and premier portfolio"
    },
    {
      "from": 10,
      "to": 10,
      "label": "Market Size",
      "description": "The document presents a geographic map with premier portfolio"
    },
    {
      "from": 20,
      "to": 22,
      "label": "Financials",
      "description": "The document presents balance sheet information"
    }
  ],
  "loops": [
    {
      "from": 11,
      "to": 11,
      "label": "Cost Of Inaction",
      "description": "Highlight the cost of inaction in the current market"
    }
  ]
}