Our concentration is in the select, upper select, and extended stay categories of the hotel market. Brands represented in these categories include Hotels Indigo, Hampton Inn Holiday Inn Express, Courtyard by Marriott, and Homewood Suites among many others. The brands are licensed from global hotel chains such as Marriott, Hilton, and IHG. We focus on top 100 MSAs across the United States which have established hotel demand generators. Demand generators for our submarkets include state capitals, Power Five conference universities, healthcare, heavy manufacturing, military, and tourism. We have a rigorous underwriting process and employ conservative levels of leverage to ensure a higher probability of investment success.