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      "text": "1. Based on the 93 same store hotels for 2023 (excludes Hyatt Place Plano) and the Canopy New Orleans which was acquired in March 2022.\n2. Based on stabilized NOI divided by the purchase price..\n3. Based on pro forma RevPAR growth for the full year ended December 31, 2023.\n4. Onera Fredericksburg RevPAR not comparable due to unit changes throughout 2023 and ongoing phase II development.",
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      "text": "RECENT ACQUISITION HIGHLIGHTS\nSummit Same Store (1)\nAC / Element Miami\nOnera Fredericksburg\n2023 Acquisitions\nSummit Pro Forma\nKey Highlights\n# of Assets\n94\n2\n1\n2\n99\n5% Growth\n# of Guestrooms\n14,343\n264\n11\n167\n14,785\n3% Growth\nDate of Acquisition\n-\nQ2 2022\nQ4 2022\nQ2 2023\n-\n-\nGross Purchase Price\n-\n$89MM\n$5MM\n$43MM\n-\n~$137MM Invested\nPrice per Key\n-\n$337K\n$455K\n$256K\n-\nAttractive Basis of $309K / Key\nStabilized Yield (2)\n-\n8-9%\n11-13%\n9-10%\n-\nStrong Stabilized Yields\nRevPAR Growth (3)\n-\n8%\nN/A (4)\n7%\n-\nExceptional Growth Profile",
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      "text": "Targeted capital allocation strategy with proven track record of external growth and capital recycling",
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