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  "documentTitle": "Summit Hotel Properties | Results Presentation Deck | 33 slides",
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  "authorName": "Summit Hotel Properties",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "SUMMIT\nHOTEL PROPERTIES",
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      "text": "(1) All pro forma information includes operating and financial results for 101 lodging assets owned as of August 2, 2023, as if each property had been owned by the Company since January 1, 2022, and will continue to be owned through the entire year ending December 31, 2023. As a result, the pro forma information includes operating and financial results for lodging assets acquired since January 1, 2022, which may include periods prior to the Company's ownership. Pro forma and non-GAAP financial measures are unaudited.\n(2) The variance to adjusted prior midpoint reflects the midpoint change in current outlook compared to previous outlook had the Company included all transactions closed during the second quarter in its prior guidance given no transactions were contemplated in the full year 2023 outlook update published in May 2023.",
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      "text": "FYE 2023 Outlook\n(Amounts in thousands, except per share metrics and statistics)\nLow High Variance to Prior Midpoint % Change to Prior Midpoint\nPro Forma RevPAR (1) $ 119.00 $ 121.50 $ 0.00 0.0%\nPro Forma RevPAR Growth (1) 6.00% 8.00% -1.50% n/a\nAdjusted EBITDAre $ 183,000 $ 193,000 $ (10,150) -5.1%\nAdjusted FFO $ 105,000 $ 115,300 $ (9,950) -8.3%\nAdjusted FFO per Diluted Unit $ 0.86 $ 0.94 $ (0.08) -8.3%\nCapital Expenditures, Pro Rata $ 60,000 $ 80,000 $ 0 0.0%",
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      "text": "Variance to Prior Midpoint Adj for Transactions (2) % Change to Prior Midpoint Adj for Transactions (2)\nPro Forma RevPAR (1) $ 0.00 0.0%\nPro Forma RevPAR Growth (1) -1.5% n/a\nAdjusted EBITDAre $ (8,150) -4.1%\nAdjusted FFO $ (8,350) -7.0%\nAdjusted FFO per Diluted Unit $ (0.07) -7.0%\nCapital Expenditures, Pro Rata $ 0 0.0%",
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