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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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      "text": "No significant debt maturities until 2026\n$0 (2023), $15 (2024), $42 (2025), $288 (2026), $43, $205 (2027), $7, $200, $102, $25 (2028), $3, $200 (2029+)",
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      "text": "Pro Rata Capitalization $2.2B",
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      "text": "Net Debt: $1.1 Billion\nCommon Equity: $0.8 Billion\nPreferred Equity: $0.3 Billion",
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      "text": "GIC JV Credit Facility\nJV Mortgage Debt\nConvertible Debt\nGIC JV NCI Term Loan\nMortgage Debt\nSenior Unsecured Revolver\nBofA Term Loan\nRegions Term Loan",
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      "text": "1. Based on financials and pro rata debt as of December 31, 2023. Assumes fully-extended maturity dates for all loans. Includes new $200mm term loan as of February 26, 2024.\n2. Summit's market close price as of February 23, 2024. Amounts are pro rata.\n3. Based on 2024E Consensus EBITDA of $192.1 million and fixed charges of pro rata 2024E principal, interest expense, and preferred dividends on a pro forma basis.",
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      "text": "Liquidity (Undrawn Revolver Capacity + Cash) ~$400MM\nPro Rata Net Debt Outstanding $1.1B\nPro Rata Net Debt / Total Enterprise Value 49%\nAvg. Length to Maturity >3.5 Yrs\nPro Forma Weighted Avg. Cost of Debt 4.75%\nFixed Charge Ratio (3) 2.6x",
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