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  "documentTitle": "DiamondRock Hospitality | Investor Presentation Deck | 19 slides",
  "authorId": "diamondrock-hospitality",
  "authorName": "DiamondRock Hospitality",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-05-01 00:00:00",
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      "kind": "callout",
      "text": "VALUATION PREMIUM: UNENCUMBERED VS. ENCUMBERED HOTELS",
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      "text": "Operator Diversification by % of 2022 EBITDA: Aimbridge 26%, HEI Hotels & Resorts 18%, Marriott 14%, EOS Hospitality 8%, Evolution Hospitality 7%, Sage Hospitality 6%, Kimpton 5%, Ocean Properties 4%, Highgate Hotels 4%, Vail Resorts 4%, Passport Resorts 4%, Pacifica Hotels 0%",
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      "kind": "list",
      "text": "Aimbridge\nSage Hospitality\nKimpton\nHighgate Hotels\nHEI Hotels & Resorts\nEOS Hospitality\nOcean Properties\nPassport Resorts\nMarriott\nEvolution Hospitality\nVail Resorts\nPacifica Hotels",
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      "kind": "list",
      "text": "HIGHER PROFITABILITY, LOWER COST OF OPERATIONS\nManagement fees lower\nOperating cost savings\nBetter profitability and flow-through",
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      "text": "SUPERIOR COST CONTROLS\nUtilize most cost-effective procurement & sourcing\nIdentify cost-effective product alternatives",
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      "text": "OWNER-CENTRIC CASH/CAPITAL MANAGEMENT\nOwner controls cash management and distribution\nOwner dictates capital investment / purchasing decisions",
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      "text": "15% TO 20%",
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      "text": "Note: % of 2022 EBITDA, proforma for 2022 acquisitions",
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      "kind": "title",
      "text": "BENEFITS OF SHORT-TERM AGREEMENTS",
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      "beatName": "Solution",
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      "evidence": "The operator diversification, portfolio data table, and strong resort market presence sections highlight the company's solution.",
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      "evidence": "The executive summary and 1Q 2023 highlights sections provide an overview of the company's current state and growth potential.",
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      "objective": "Why DiamondRock Hospitality is a good investment opportunity",
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