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  "authorName": "Summit Hotel Properties",
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      "text": "Upscale demand growth forecasted to exceed supply growth by nearly 100 bps through 2026",
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      "text": "Muted industry supply growth expected to average <1% from 2024-2026, -100 bps below the long-run average",
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      "text": "1. Based on CBRE Hotel Trends, Q1 2024 data as of May 2024.\n2. Based on guestroom count for the 96 lodging assets owned as of July 31, 2024.",
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      "text": "CBRE (1) Total US Upscale May 2024 Supply Growth Demand Growth Variance Supply Growth Demand Growth Variance 2019 1.6% 2.3% 70 bps 4.2% 4.4% 20 bps 2020 0.9% -35.2% -3,610 bps 2.7% -40.9% -4,360 bps 2021 1.0% 37.0% 3,600 bps 3.2% 47.3% 4,410 bps 2022 0.4% 11.3% 1,090 bps 2.1% 15.3% 1,320 bps 2023 0.4% 1.0% 60 bps 1.0% 3.4% 240 bps 2024E 0.7% 0.9% 20 bps 1.2% 1.3% 10 bps 2025E 0.9% 1.8% 90 bps 1.3% 2.5% 120 bps 2026E 1.0% 1.8% 80 bps 1.4% 2.6% 120 bps 2024-2026 Avg 0.9% 1.5% 60 bps 1.3% 2.2% 90 bps",
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      "text": "Summit Portfolio Chain Scale Breakdown (2)",
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