{
  "docId": "019de517-2e87-769f-80df-8f88831d3033",
  "docSlug": "6f29e0814fd0ca1eb2b422485e12b061",
  "documentTitle": "DiamondRock Hospitality | Investor Presentation Deck | 30 slides",
  "authorId": "diamondrock-hospitality",
  "authorName": "DiamondRock Hospitality",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4285715,
  "pageNumber": 14,
  "pageCount": 30,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "unfair_advantage",
  "function": "present_framework",
  "density": "overcrowded",
  "nDataPoints": 20,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de517-2e87-769f-80df-8f88831d3033/14",
  "deckHref": "/decks/019de517-2e87-769f-80df-8f88831d3033",
  "deckJsonHref": "/decks/019de517-2e87-769f-80df-8f88831d3033.json",
  "deckAnchorHref": "/decks/019de517-2e87-769f-80df-8f88831d3033#slide-14",
  "components": [
    {
      "bbox": {
        "h": 0.2,
        "w": 0.23,
        "x": 0.473,
        "y": 0.66
      },
      "kind": "callout",
      "text": "VALUATION PREMIUM\nUNENCUMBERED\nVS.\nENCUMBERED\n15% TO 20%",
      "attrs": {},
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "551dca96-7337-4150-987c-49f1e8fd5dc5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.38,
        "x": 0.029,
        "y": 0.66
      },
      "kind": "list",
      "text": "BENEFITS OF LOW EXPOSURE\nStrong residual value\nMore financial flexibility\nReduced operating leverage\nIncreased earnings transparency",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "895b0983-64ed-4230-b1d3-25f7a1dd5a8a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.27,
        "x": 0.71,
        "y": 0.66
      },
      "kind": "list",
      "text": "BENEFITS OF LOW EXPOSURE\nTerminable at will\nEnhanced asset liquidity\nSuperior cost controls\n50-100bp cap rate improvement",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ad058484-2863-473f-90e3-6dabb74a5152",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.72,
        "x": 0.04,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "1. Includes restaurant ground lease at Southernmost Beach Resort\n2. Excludes room count of Parc 55 San Francisco and Hilton San Francisco Union Square\n3. Excludes The Worthington garage ground lease and Hotel Clio patio ground lease as they are not critical to operations and Kimpton Palomar Phoenix lease due to perpetual purchase rights\n4. Excludes JW Marriott New Orleans airspace lease\n5. Excludes Hyatt Regency Santa Clara due to purchase rights",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41516568-3d65-4739-94ee-4f3fa4fed04f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.01,
        "w": 0.15,
        "x": 0.04,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "Source: Latest company filings",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4b1851b1-300a-4210-81d9-e9874c2d2b32",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.53,
        "w": 0.405,
        "x": 0.04,
        "y": 0.11
      },
      "kind": "table",
      "text": "GROUND LEASE EXPOSURE\nCOMPANY\nPERCENT OF ROOMS\nTENOR OF THE FIVE SHORTEST LEASES\nNO. OF LEASED HOTELS\nPEB¹ 41% 27 Years 18 Hotels\nHST 30% 19 Years 19 Hotels\nPK² 23% 16 Years 15 Hotels\nPEER AVERAGE 31% 23 Years 17 Hotels\nDRH³ 20% 58 Years 6 Hotels\nSHO⁴ 15% 48 Years 1 Hotels\nXHR⁵ 8% 72 Years 2 Hotels",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6ab471d3-94cc-4562-b9b9-b4558ecc97d9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.53,
        "w": 0.485,
        "x": 0.473,
        "y": 0.11
      },
      "kind": "table",
      "text": "BRAND MANAGEMENT EXPOSURE\nCOMPANY\nPERCENT OF MANAGEMENT CONTRACTS\nXHR 84%\nHST 87%\nPK 90%\nSHO 73%\nPEER AVERAGE 84%\nPEB 24%\nDRH 6%",
      "attrs": {},
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a455bc9e-0749-4df7-a2b2-5a1b8ea26f56",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.46,
        "x": 0.039,
        "y": 0.03
      },
      "kind": "title",
      "text": "HIGH QUALITY, LIQUID PORTFOLIO",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d51fcfb2-dba8-44d5-9f04-b64da7fd62e4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "968b18e5-1adf-4585-a0b3-d10b5079e4e5",
      "evidence": "BENEFITS OF LOW EXPOSURE",
      "confidence": 0.6
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}