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      "text": "Launched new best-in-class midscale conversion brand in August 2023 in the US\nConversion Cost Per Key typically ~25% lower than a Holiday Inn Express conversion\nTargeting >500 hotels over the next 10 yrs and >1,000 hotels over the next 20 yrs in the US\nFranchise-ready in September 2023\nSigned first seven hotels in Q4 2023; strong volume of opportunities at various stages\nOpened first two properties in December\nGlobal expansion already underway with launches in Japan and Mexico",
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