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      "text": "FYE 2022 Hotel EBITDA Margin Summit 35.9% Select-Service Peers 34.2% All Peers 30.7% Full-Service Peers 30.0% +170 bps +520 bps +590 bps",
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      "text": "1. Summit based on the pro forma 2022 financials for the 100 lodging assets owned as of June 2, 2023.\n2. Select-service peer data based on the aggregate FY 2022 comparable portfolio revenue and hotel EBITDA reported for the following peers: APLE, CLDT, HT, and RLJ.\n3. Full-service peer data based on the aggregate FY 2022 comparable portfolio revenue and hotel EBITDA reported for the following peers: AHT, BHR, DRH, HST, PK, PEB, RHP, SHO, and XHR.",
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