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  "documentTitle": "Summit Hotel Properties | Investor Presentation Deck | 31 slides",
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  "authorName": "Summit Hotel Properties",
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  "presentationDate": "2024-02-01 00:00:00",
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      "kind": "callout",
      "text": "Upscale demand growth forecasted to exceed supply growth by 130-140 bps through 2026",
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      "text": "Summit Portfolio Chain Scale Breakdown (2) 7% 14% 80% Upscale Upper-Midscale Other",
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      "text": "1. Based on CBRE Hotel Trends, Q3 2023 data as of November 2023.",
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      "kind": "source-note",
      "text": "2. Based on guestroom count for the 99 lodging assets owned as of February 28, 2024.",
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      "kind": "table",
      "text": "CBRE (1) Total US Upscale Nov 2023 Supply Growth Demand Growth Variance Supply Growth Demand Growth Variance 2019 1.6% 2.0% 40 bps 4.2% 4.4% 20 bps 2020 1.0% -34.9% -3,590 bps 2.7% -40.8% -4,350 bps 2021 1.1% 36.3% 3,520 bps 3.3% 47.3% 4,400 bps 2022 0.5% 10.7% 1,020 bps 2.2% 15.2% 1,300 bps 2023E 0.4% 1.2% 80 bps 1.3% 3.9% 260 bps 2024E 0.8% 1.4% 60 bps 1.4% 2.8% 140 bps 2025E 0.9% 2.0% 110 bps 1.5% 2.8% 130 bps 2026E 1.0% 1.8% 80 bps 1.5% 2.8% 130 bps 2024-2026 Avg 0.9% 1.7% 80 bps 1.5% 2.8% 130 bps",
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      "text": "Muted industry supply growth expected to average <1% from 2024-2026, over 100 bps below the long-run average",
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      "kind": "title",
      "text": "Lodging industry set up for favorable supply & demand dynamics for the foreseeable future",
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