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  "documentTitle": "Summit Hotel Properties | Results Presentation Deck | 33 slides",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "SUMMIT HOTEL PROPERTIES",
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      "text": "Q2 2023",
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      "text": "(Amounts in thousands, except statistics)",
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      "text": "(2) GIC Joint Venture is 51% owned by Summit while Other Joint Ventures are 90% owned by Summit.",
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      "text": "(1) Non-cash interest income relates to the amortization of the discount on certain notes receivable. The discount on these notes receivable was recorded at inception of the related loans based on the estimated value of the embedded purchase options in the notes receivable.",
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      "text": "Summit Wholly-Owned Q2 2023 639,113 Q2 2022 658,329 GIC Joint Venture (2) Q2 2023 380,949 Q2 2022 363,437 Other Joint Ventures (2) Q2 2023 18,983 Q2 2022 3,574 Combined Q2 2023 1,039,045 Q2 2022 1,025,340 GIC JV Pro Rata Adj Q2 2023 Q2 2022 Other JVs Pro Rata Adj Q2 2023 Q2 2022 Pro Rata Q2 2023 Q2 2022 Rooms sold 855,121 877,695 496,650 499,434 25,025 5,544 1,376,796 1,382,673 Rooms available Occupancy 74.7% 75.0% 76.7% 72.8% 75.9% 64.5% 75.5% 74.2% ADR $ 173.47 $ 169.31 $ 155.80 $ 150.63 $ 208.82 $ 167.04 $ 167.64 $ 162.68 RevPAR $ 129.65 $ 127.00 $ 119.50 $ 109.61 $ 158.40 $ 107.68 $ 126.51 $ 120.64 Room revenue 110,866 111,464 59,351 54,743 3,964 597 174,181 166,804 Other revenue 10,772 9,344 7,060 6,642 2,480 458 20,312 16,444 Total revenue $ 121,638 $ 120,808 $ 66,411 $ 61,385 $ 6,444 $ 1,055 $ 194,493 $ 183,248 Hotel EBITDA $ 43,032 $ 45,579 $ 25,676 $ 23,465 $ 1,921 $ 130 $ 70,629 $ 69,174 % margin 35.4% 37.7% 38.7% 38.2% 29.8% 12.3% 36.3% 37.7% Net income (loss) $ 7,150 $ 5,033 $ (6,123) $ 18,507 $ (137) $ (227) $ 890 $ 23,313 $ 2,957 $ (9,054) $ 14 $ 23 $ 3,861 $ 14,282 Depreciation and amortization 19,261 20,192 17,226 17,626 1,023 240 37,510 38,058 (8,441) (8,637) (102) (24) 28,967 29,397 Interest expense 8,734 9,111 12,544 5,890 970 117 22,248 15,118 (6,147) (2,886) (97) (12) 16,004 12,220 Interest income (135) (4) (22) - - (157) (4) 11 - (146) (4) Income tax expense 26 6,421 765 16 - - 791 6,437 (375) (8) 416 6,429 EBITDA $ 35,036 $ 40,753 $ 24,390 $ 42,039 $ 1,856 $ 130 $ 61,282 $ 82,922 $ (11,995) $ (20,585) $ (185) $ (13) $ 49,102 $ 62,324 Loss (gain) on disposal of assets and other dispositions, net 310 8 10 (20,492) - - 320 (20,484) (5) 10,041 - - 315 (10,443) EBITDAre $ 35,346 $ 40,761 $ 24,400 $ 21,547 $ 1,856 $ 130 $ 61,602 $ 62,438 $ (12,000) $ (10,544) $ (185) $ (13) $ 49,417 $ 51,881 Recoveries of credit losses - (250) - - - - - (250) - - - - - (250) Amortization of key money liabilities (52) (32) (51) (91) (18) - (121) (123) 25 45 2 - (94) (78) Equity-based compensation 2,578 2,142 - - - - 2,578 2,142 - - - - 2,578 2,142 Transaction costs and other 241 1 18 715 - - 259 716 (9) (350) - - 250 366 Non-cash interest (income) expense, net (1) (133) 9 - - - - (133) 9 - - - - (133) 9 Non-cash lease expense, net 117 116 12 14 - - 129 130 (6) (7) - - 123 123 Casualty losses, net 515 (60) 355 179 65 - 935 119 (174) (88) (7) - 754 31 Other (1) (1) 1 2 - - 1 367 - - - - 1 368 Adjusted EBITDAre $ 38,611 $ 42,686 $ 24,735 $ 22,366 $ 1,903 $ 130 $ 65,249 $ 65,182 $ (12,163) $ (10,577) $ (190) $ (13) $ 52,896 $ 54,592",
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      "text": "Reconciliation to Adjusted EBITDAre – By Ownership Interest (Unaudited)",
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