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  "documentTitle": "2025 08 Investor Presentation",
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  "notes": "The chart highlights a significant increase in net unit growth in 2024 compared to previous years.",
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      "text": "(a) As a % of gross room openings. (b) Excluding acquisitions and partnerships, conversions represented approximately one third of total openings.",
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      "kind": "title",
      "text": "3. A HIGH-QUALITY PIPELINE GENERATING SUBSTANTIAL RETURNS ON MINIMAL CAPITAL INVESTMENT",
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