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      "text": "Strong pro forma hotel EBITDA growth (+6%)\nOperating expense growth of <1.5% POR in the second half of 2023",
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      "text": "No significant maturities until 2026 after consideration of $1.0B of financings completed since beginning of 2023\nTotal liquidity of nearly $400MM\n~80% of Summit's pro rata debt and preferreds is fixed-rate\nSince the beginning of 2023, $300MM of interest rate swaps entered into at a blended SOFR rate of 3.49%",
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      "text": "Occupancy: 72.2% (+3.4%); ADR: $166 (+3.1%); RevPAR: $120 (+6.6%)\nThe NewcrestImage portfolio continues to produce exceptionally strong results\nRevPAR growth +13%; hotel EBITDA +15%\nMarket share grew over 500 basis points to a RevPAR index of 112",
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