February 28, 2023
Net Loss of $(0.19) Per Common Share 159% Increase in Normalized FFO to $0.44 Per Common Share 27% Increase in Adjusted EBITDAre to $150.5 Million Completes $610.2 Million Secured Financing Agrees to Amend Lease Terms upon Completion of BP’s Acquisition of TravelCenters of America Inc. Conference Call section, first paragraph, first sentence of release should read: On March 1, 2023 at 10:00 a.m. Eastern Time (instead of 1:00 p.m. Eastern Time). The updated release reads: SERVICE PROPERTIES TRUST ANNOUNCES FOURTH QUARTER 2022 RESULTS Net Loss of $(0.19) Per Common Share 159% Increase in Normalized FFO to $0.44 Per Common Share 27% Increase in Adjusted EBITDAre to $150.5 Million Completes $610.2 Million Secured Financing Agrees to Amend Lease Terms upon Completion of BP’s Acquisition of TravelCenters of America Inc. Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended December 31, 2022. Todd Hargreaves , President and Chief Investment...
February 28, 2023
Net Loss of $(0.19) Per Common Share 159% Increase in Normalized FFO to $0.44 Per Common Share 27% Increase in Adjusted EBITDAre to $150.5 Million Completes $610.2 Million Secured Financing Agrees to Amend Lease Terms upon Completion of BP’s Acquisition of TravelCenters of America Inc. Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended December 31, 2022. Todd Hargreaves , President and Chief Investment Officer of SVC, made the following statement: “We are encouraged by the improved hotel fundamentals that we experienced throughout 2022 and expect that further progress will occur in 2023. Comparable hotel RevPAR for the fourth quarter increased by 21.4% over the same period last year, with occupancy increasing 3.3 percentage points, leading to a 98.3% increase in comparable hotel EBITDA over the same period last year. Our portfolio of net lease assets continued to deliver steady and reliable cash flows during the quarter. We are excited...