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  "documentTitle": "Summit Hotel Properties | Investor Presentation Deck | 35 slides",
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  "authorName": "Summit Hotel Properties",
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  "presentationDate": "2023-06-01 00:00:00",
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      "text": "Pro Forma Debt Maturity Schedule (1) GIC JV Credit Facility GIC JV NCI Term Loan BofA Term Loan JV Mortgage Debt Mortgage Debt KeyBank Term Loan Convertible Debt Senior Unsecured Revolver No debt maturities until Q4 2024 $20 $200 $42 $225 $15 $102 $288 $44 $209 $7 $3 2023 2024 2025 2026 2027 2028 2029+ $ in millions",
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      "text": "Pro Forma Capital Structure (1,2) Net Debt: $1.1 Billion Common Equity: $0.8 Billion Preferred Equity: $0.3 Billion Pro Rata Capitalization $2.2B 14% 49% 37%",
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      "text": "Net Debt: $1.1 Billion\nCommon Equity: $0.8 Billion\nPreferred Equity: $0.3 Billion",
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      "text": "Liquidity (Undrawn Revolver Capacity + Cash) ~$450MM\nPro Rata Net Debt Outstanding $1.1B\nPro Rata Net Debt / Total Enterprise Value 50%\nAvg. Length to Maturity ~2.5 Yrs\nPro Forma Weighted Avg. Cost of Debt 4.8%\nFixed Charge Ratio (3) 2.7x",
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      "text": "GIC JV Credit Facility\nJV Mortgage Debt\nConvertible Debt\nGIC JV NCI Term Loan\nMortgage Debt\nSenior Unsecured Revolver\nBofA Term Loan\nKeyBank Term Loan",
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      "kind": "source-note",
      "text": "2. Summit's market close price as of May 30, 2023. Amounts are pro rata.",
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      "text": "3. Based on 2023E Consensus EBITDA of $200.5 million and fixed charges of pro rata 2023E principal, interest expense, and preferred dividends on a pro forma basis.",
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      "text": "1. Based on financials and pro rata debt as of May 31, 2023. Assumes fully-extended maturity dates for all loans and the two new JV interest-rate swaps are effective.",
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      "kind": "title",
      "text": "Well-positioned balance sheet & strong liquidity profile",
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