Summit Hotel Properties
targeted capital allocation strategy with proven track record of transaction driven value creation summit | Summit Hotel Properties
Company
Deck Type
Sector
Industry
Deck date
January 2023
Slide
20 of 46
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Investor Presentation
February 2024
locations in markets that matter with favorable supply demand dynamics and multiple demand generators efficient operating models and value add opportunities i property renovations brand conversions management changes target product types that appeal to evolving guest preferences i initial investment with the acquisition of in identify markets with unfavorable supply demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds in sold five hotels for million at a blended capitalization rate of after consideration of foregone capital expenditures subsequent to year end the joint venture with completed the sale of one hotel for million at a capitalization rate after consideration of foregone capital expenditures own hotels totaling with a well respected global real estate investor further validates summit platform and operating model facilitates external growth strategy and creates a pipeline for future growth fee structure enhances yields and hold period returns for the company and is expected to cover of cash corporate a higher risk adjusted returns and utilization of in house development mezzanine lending program provides alternative pipeline for growth which typically earns current yields of and provides for the future option to acquire assets at a fixed price i initial loan converted into equity stake in the dual branded hotel element maintain liquidity flexibility and a well balanced maturity ladder spread across multiple years precedent for creative structuring and accretive issuance of units to preserve liquidity while remaining transactional fixed rate debt and preferred equity capital structure targeted allocation proven track record transaction driven value creation | Summit Hotel Properties
Investor Presentation
November 2023
locations in markets that matter with favorable supply demand dynamics and multiple demand generators efficient operating models and value add opportunities i property renovations brand conversions management changes target product types that appeal to evolving guest preferences i initial investment with the acquisition of in identify markets with unfavorable supply demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds recently closed on or announced the sale of five hotels for million combined with our previous sale of the garden san in we have closed assets sales totaling million at a blended capitalization rate of less than and eliminated nearly million of renovation capital expenditures since own hotels totaling with a well respected global real estate investor further validates summit platform and operating model facilitates external growth strategy and creates a pipeline for future growth fee structure enhances yields and hold period returns for the company and is expected to cover of cash corporate a higher risk adjusted returns and utilization of in house development mezzanine lending program provides alternative pipeline for growth which typically earns current yields of and provides for the future option to acquire assets at a fixed price i initial loan converted into equity stake in the dual branded hotel element maintain liquidity flexibility and a well balanced maturity ladder spread across multiple years precedent for creative structuring and accretive issuance of units to preserve liquidity while remaining transactional nearly fixed rate debt and preferred equity capital structure targeted allocation proven track record transaction driven value creation | Summit Hotel Properties
Investor Presentation
August 2023
locations in markets that matter with favorable supply demand dynamics and multiple demand generators efficient operating models and value add opportunities i property renovations brand conversions management changes target product types that appeal to evolving guest preferences i initial investment with the acquisition of in identify markets with unfavorable supply demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds recently disposed of four hotels for million combined with our previous sale of the garden san in we have closed assets sales totaling million at a blended capitalization rate of and eliminated nearly million of renovation capital expenditures since own hotels totaling with a well respected global real estate investor further validates summit platform and operating model facilitates external growth strategy and creates a pipeline for future growth fee structure generates higher going in yields and hold period returns for the company and is expected to cover of cash corporate a higher risk adjusted returns and utilization of in house development mezzanine lending program provides alternative pipeline for growth which typically earns current yields of and provides for the future option to acquire at a fixed price i initial loan converted into equity stake in the dual branded hotel element maintain liquidity and flexibility and a well balanced maturity ladder spread across multiple years precedent for creative structuring and accretive issuance of units to preserve liquidity while remaining transactional nearly fixed rate debt and preferred equity capital structure targeted allocation proven track record transaction driven value creation | Summit Hotel Properties
Investor Presentation
June 2023
locations in markets that matter with favorable supply demand dynamics and multiple demand generators efficient operating models and value add opportunities i property renovations brand conversions management changes target product types that appeal to evolving guest preferences i initial investment with the acquisition of in identify markets with unfavorable supply demand dynamics and hotels with functional obsolescence or large capital needs that do not meet return thresholds recently disposed of four hotels for million combined with our previous sale of the garden san in we have closed assets sales totaling million at a blended capitalization rate of and eliminated nearly million of renovation capital expenditures since own hotels totaling with a well respected global real estate investor further validates summit platform and operating model facilitates external growth strategy and creates a pipeline for future growth fee structure generates higher going in yields and hold period returns for the company and is expected to cover of cash corporate a higher risk adjusted returns and utilization of in house development mezzanine lending program provides alternative pipeline for growth which typically earns current yields of and provides for the future option to acquire at a fixed price i initial loan converted into equity stake in the dual branded hotel element maintain liquidity and flexibility and a well balanced maturity ladder spread across multiple years precedent for creative structuring and accretive issuance of units to preserve liquidity while remaining transactional fixed rate debt and preferred equity capital structure targeted allocation proven track record transaction driven value creation | Summit Hotel Properties
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