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      "text": "Targeting low double-digit stabilized annual cash-on-cash returns on incremental investment through a combination of enhanced owner's priority returns and RevPAR Index share gains.",
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      "text": "WHAT: Following the success of stabilized comprehensive renovations, Host has reached an agreement with Hyatt on the Hyatt Transformational Capital Program (“HTCP”), a similar capex reinvestment program at six properties.\nWHY: Building on the success of the Marriott Transformational Capital Program, Host believes these portfolio investments will position the hotels to compete better in their respective markets while seeking to enhance long-term performance.\nGOAL: Targeting low double-digit stabilized annual cash-on-cash returns on incremental investment through a combination of enhanced owner’s priority returns and RevPAR Index share gains.",
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      "text": "$40 MILLION",
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      "text": "Total program investment: $550-600 million",
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      "text": "HTCP ASSETS, RENOVATION START, TARGETED COMPLETION. Grand Hyatt Atlanta in Buckhead, Q1 2024, Q1 2025 - Complete. Hyatt Regency Washington on Capitol Hill, Q1 2025, Q3 2025 - Complete. Hyatt Regency Austin, Q2 2025, Q4 2025 - Complete. Hyatt Regency Reston, Q4 2024, Q1 2026. Grand Hyatt Washington, DC, Q1 2024, Q2 2026. Manchester Grand Hyatt San Diego, Q1 2025, Q1 2027.",
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      "text": "Hyatt Transformational Capital Program Overview",
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