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      "text": "(1) All pro forma information includes operating and financial results for 103 hotels owned as of December 31, 2022, as if each hotel had been owned by the Company since January 1, 2022 and will continue to be owned through the entire year ending December 31, 2023. As a result, the pro forma information includes operating and financial results for hotels acquired since January 1, 2022, which may include periods prior to the Company's ownership. Pro forma and non-GAAP financial measures are unaudited.",
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      "text": "FYE 2023 Outlook\nLow\nHigh\nPro Forma RevPAR (1) $ 117.50 $ 123.00\nPro Forma RevPAR Growth (1) 6.00% 11.00%\nAdjusted EBITDAre $ 190,400 $ 205,900\nAdjusted FFO $ 112,100 $ 128,100\nAdjusted FFO per Diluted Unit $ 0.92 $ 1.05\nCapital Expenditures, Pro Rata $ 60,000 $ 80,000",
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