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  "documentTitle": "2023 04 Investor Presentation",
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  "notes": "Includes a comparison of Onera against Full Service and Select Service hotel benchmarks.",
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      "text": "Onera Fredericksburg is forecasted to generate EBITDA margins exceeding the typical select-service and full-service hotel by over 20 and 30 full percentage points, respectively",
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      "text": "RevPAR is comparable to a Luxury hotel; High margins comparable to multi-family; Yield profile is 2x traditional hotel investment and profitability per unit is 5x typical select-service hotel",
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      "text": "Full Year 2022 Highlights: RevPAR of $440; GOP margin of 75%; Hotel EBITDA margin of 60%; FYE 2022 NOI yield of 17%",
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      "text": "(1) Based on STR Host Almanac 2019. Figures represent total U.S. averages.",
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