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      "text": "Strategic Rationale\nGlamping segment positions Summit to benefit from emerging guest preferences towards experiential travel and non-traditional accommodation types\nHighly compelling unit economics\nGenerate in place yields and unlevered IRR profiles that are 400 – 600 bps and 500-1,000 bps higher than traditional lodging investments, respectively\nLabor-light/highly efficient operating model is a natural extension of Summit's core business of owning high-quality hotels with a predominately rooms-based revenue model\nMinimal services and amenities and labor-light model generates superior margin profile\n1-2 on-site FTEs vs 80-100 on average for a typical full-service hotel and 30-35 for a typical select-service hotel\nResults in margins 20-30 percentage points above + EBITDA/unit 4-5x traditional hotels\nLower capital requirements enhance overall returns\nOnera's high-end, differentiated product includes temperature-controlled units, private bathrooms, kitchens, patios, fire pits and hot tubs\nThe asset class leverages the Company's asset management and design & construction expertise\nShorter development timelines and stabilization within 12 months of opening",
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