{
  "docId": "019de516-b6b8-7242-bff9-c0caa8b089f8",
  "docSlug": "aba562e1e5f219a736cfb6a383fb8263",
  "documentTitle": "Summit Hotel Properties | Results Presentation Deck | 33 slides",
  "authorId": "summit-hotel-properties",
  "authorName": "Summit Hotel Properties",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 5,
  "pageCount": 33,
  "prevPage": 4,
  "nextPage": 6,
  "slideType": "appendix_disclosure",
  "function": "appendix",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de516-b6b8-7242-bff9-c0caa8b089f8/5",
  "deckHref": "/decks/019de516-b6b8-7242-bff9-c0caa8b089f8",
  "deckJsonHref": "/decks/019de516-b6b8-7242-bff9-c0caa8b089f8.json",
  "deckAnchorHref": "/decks/019de516-b6b8-7242-bff9-c0caa8b089f8#slide-5",
  "components": [
    {
      "bbox": {
        "h": 0.14,
        "w": 0.877,
        "x": 0.062,
        "y": 0.223
      },
      "kind": "paragraph",
      "text": "In September 2017, Nareit proposed a standardized performance measure, called EBITDAre, which is based on EBITDA and is expected to provide additional relevant information about REITs as real estate companies in support of growing interest among generalist investors. The conclusion was reached that, while dedicated REIT investors have long been accustomed to utilizing the industry's supplemental measures such as FFO and net operating income (\"NOI\") to evaluate the investment quality of REITs as real estate companies, it would be helpful to generalist investors for REITs as real estate companies to also present EBITDAre as a more widely known and understood supplemental measure of performance. EBITDAre is intended to be a supplemental non-GAAP performance measure that is independent of a company's capital structure and will provide a uniform basis for one measurement of the enterprise value of a company compared to other REITs.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2229cfe3-bc80-46df-8ab8-07bd6ff97726",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.206,
        "x": 0.062,
        "y": 0.184
      },
      "kind": "paragraph",
      "text": "EBITDAre and Adjusted EBITDAre",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "316638ea-939b-432f-a656-2875079583b0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.14,
        "w": 0.877,
        "x": 0.062,
        "y": 0.545
      },
      "kind": "paragraph",
      "text": "We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional non- recurring or unusual items described below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to meet general operating expenses, to make capital expenditures and to fund other cash needs, or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d973d2a-c1c6-4f39-802f-33d493a7c573",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.877,
        "x": 0.062,
        "y": 0.394
      },
      "kind": "paragraph",
      "text": "EBITDAre, as defined by Nareit, is calculated as EBITDA, excluding: (i) loss and gains on disposition of property and (ii) asset impairments, if any. We believe EBITDAre is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c816353f-3326-4041-bbcf-1b5942627078",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.007,
        "x": 0.02,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "5",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b2863f1b-5fec-4958-8d7d-4cbca22e67de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.401,
        "x": 0.045,
        "y": 0.055
      },
      "kind": "title",
      "text": "Non-GAAP Financial Measures (cont.)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bc466c80-ce08-4698-a58b-802d0ab0eeb4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}