Hotel & Retail Focused Net Lease Real Estate

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November 6, 2024
Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2024, which can be found at the Quarterly Results section of SVC’s website at https://www.svcreit.com/investors/financial-information/default.aspx . A conference call to discuss SVC’s third quarter results will be held on Thursday, November 7, 2024 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 329-3720 or (412) 317-5434 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (877) 344-7529; the replay pass code is 5076927. A live audio webcast of the conference call will also be available in a listen only mode on SVC’s website, at www.svcreit.com . The archived webcast will be available for replay on SVC’s website after the call. The transcription, recording and retransmission in any way of SVC’s third quarter conference call are strictly prohibited without the...
October 16, 2024
Reduces Quarterly Distribution to $0.01 Per Share; $127 Million in Annual Savings Will Increase Liquidity 114 Sonesta Managed Focused Service Hotels Expected to be Sold in 2025; SVC Expects to Use Net Sales Proceeds to Repay Debt Actions are Expected to Reduce Capital Expenditures and Leverage, Improve Portfolio Performance and Better Position SVC’s Hotel Portfolio for the Long Term Service Properties Trust (Nasdaq: SVC) today announced that SVC’s Board of Trustees has reduced SVC’s regular quarterly cash distribution on its common shares from $0.20 per common share ($0.80 per share per year) to $0.01 per common share ($0.04 per share per year). The dividend reduction will result in $127 million of annual savings. SVC also today announced that it has plans to sell 114 focused service hotels managed by Sonesta International Hotels Corporation, or collectively with its parent and subsidiaries, Sonesta, with an aggregate of 14,925 keys and an aggregate net carrying value of $850.0...

Cautionary Language

The information appearing on SVC’s website includes statements which constitute forward looking statements. These forward looking statements are based upon SVC’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. SVC’s actual results may differ materially from those contained in SVC’s forward looking statements. The information contained in SVC’s filings with the Securities and Exchange Commission, including under “Risk Factors" and “Warnings Concerning Forward Looking Statements” in SVC’s periodic reports and other filings, identifies important factors that could cause SVC’s actual results to differ materially from those stated in SVC’s forward looking statements. SVC’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on SVC’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements.

The documents provided in this archived section are provided for historical purposes only. The information contained in each document is accurate only as of the date each document was originally issued or such earlier date stated in those documents. Except as required by law, Service Properties Trust does not undertake any obligation to update any information contained in these documents. For current information about the company, please refer to our most recent public SEC Filings.

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