{
  "docId": "019de516-0968-779e-813d-464a11e3ca1c",
  "docSlug": "f72f87f0ea05b128552227d6ea6425f6",
  "documentTitle": "Summit Hotel Properties | Investor Presentation Deck | 35 slides",
  "authorId": "summit-hotel-properties",
  "authorName": "Summit Hotel Properties",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 31,
  "pageCount": 35,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "key_takeaways",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 14,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de516-0968-779e-813d-464a11e3ca1c/31",
  "deckHref": "/decks/019de516-0968-779e-813d-464a11e3ca1c",
  "deckJsonHref": "/decks/019de516-0968-779e-813d-464a11e3ca1c.json",
  "deckAnchorHref": "/decks/019de516-0968-779e-813d-464a11e3ca1c#slide-31",
  "components": [
    {
      "bbox": {
        "h": 0.97,
        "w": 0.41,
        "x": 0.59,
        "y": 0
      },
      "kind": "image",
      "text": null,
      "attrs": {},
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d4eb6662-42f5-4bf6-9d73-8c4f668a8d39",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.16,
        "w": 0.26,
        "x": 0.29,
        "y": 0.21
      },
      "kind": "list",
      "text": "Occupancy: 69% (+7%); ADR: $172 (+11%); RevPAR: $118 (+19%)\nQ1 ADR reached highest level in the Company's history\nMarch was our highest nominal RevPAR since the onset of the pandemic",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "14266f93-e4cf-4cb4-b9a0-6360d43bc020",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.26,
        "x": 0.29,
        "y": 0.42
      },
      "kind": "list",
      "text": "Pro forma hotel EBITDA increased 27% YoY to $63MM\nSame store hotel EBITDA margins expanded by 173 basis points to 34.3%\nDriven by GOP flow through of ~50%",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "59b461bf-ee84-4fbc-8cb3-a51ddb20f39f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.16,
        "x": 0.049,
        "y": 0.62
      },
      "kind": "list",
      "text": "Balance Sheet",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5e4f52c5-66d5-4752-8e9b-611823791b26",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.23,
        "x": 0.049,
        "y": 0.21
      },
      "kind": "list",
      "text": "Meaningful YoY topline growth driven by improving business travel & ongoing leisure strength",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7a6aca02-0f05-4cd7-86f3-2002c70c69cf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.19,
        "x": 0.049,
        "y": 0.83
      },
      "kind": "list",
      "text": "Common dividend increased 50%",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "940a8e9e-3daf-4479-82a0-bd8b5f958f7c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.09,
        "w": 0.26,
        "x": 0.29,
        "y": 0.83
      },
      "kind": "list",
      "text": "Annualized dividend of $0.24 per share\nConservative annualized dividend payout ratio of ~25% at the 2023E AFFO per share guidance midpoint",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c51c46c0-fddf-4275-ae87-3f3de6d67598",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.16,
        "w": 0.26,
        "x": 0.29,
        "y": 0.62
      },
      "kind": "list",
      "text": "Total liquidity of nearly $450MM pro forma for recent transaction activity\nEntered into two separate $100MM swaps at GIC JV to fix term SOFR at 3.35%\n73% of Summit's pro rata debt is fixed (80% fixed through preferreds)",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cbb17e2e-3715-458d-9943-06a00fa491c5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.19,
        "x": 0.049,
        "y": 0.42
      },
      "kind": "list",
      "text": "Hotel Profitability",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "defffe3c-d972-48a1-930f-d86fca664501",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.01,
        "w": 0.17,
        "x": 0.61,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Hyatt House - Orlando Universal",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "32b3b169-7ad5-4ced-9c41-eaeafdfb425c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.39,
        "x": 0.049,
        "y": 0.09
      },
      "kind": "title",
      "text": "Q1 2023 Highlights",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c6f9bc2f-1b28-4ef2-b060-3d4ee1687610",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "2a4ecfce-0c11-45e3-9588-16854191e0d5",
      "evidence": "The slide contains a list/bullet component with several items, indicating a list presentation.",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 34,
      "from": 11,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "3b8e29aa-f9bc-4c0d-bd88-7fd9720b293e",
      "evidence": "The deck presents data on the potential for RevPAR growth and the company's guidance for 2023",
      "position": 0,
      "objective": "Highlight the potential for RevPAR growth and the risks of inaction",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}