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  "documentTitle": "Summit Hotel Properties | Investor Presentation Deck | 34 slides",
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      "text": "SUMMIT\nHOTEL PROPERTIES",
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      "text": "Ongoing Improvement in Business Travel Driving Top Line Growth\nOccupancy: 75.5% (+2%); ADR: $168 (+3%); RevPAR: $127 (+4%)\nPro forma RevPAR reaches new post-pandemic high\nRecently acquired NewcrestImage portfolio RevPAR growth +15%; nearly 750 basis points of market share growth",
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      "text": "Transaction Activity\nCompleted 4-hotel portfolio dale for $28.1MM at 2.4% cap rate after estimated foregone renovation costs\nAcquired two hotels through GIC joint venture\nResidence Inn Scottsdale ($29MM) - 8.5%-9.5% Year 1 NOI yield\nThe Nordic Lodge Steamboat Springs ($14MM) - 10%-10.5% Year 1 NOI yield",
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      "text": "Balance Sheet\nTotal liquidity of nearly $425MM\n74% if Summit's pro rata debt is fixed-rate (~80% fixed through preferreds)\nSuccessfully completed $600MM credit facility refinance\nFully-extended maturity dates to 2028\nPricing maintained and overall flexibility preserved",
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      "text": "Q2 2023 Highlights",
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