August 4, 2022
Net Income of $0.07 Per Common Share 238% Increase in Normalized FFO to $0.54 Per Common Share 53% Increase in Adjusted EBITDAre to $181.9 Million Sold 76 Properties Raising Proceeds of $523.1 Million YTD Through July 31st Met All Financial Covenant Requirements Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended June 30, 2022. Todd Hargreaves , President and Chief Investment Officer of SVC, made the following statement: “Hotel operating trends greatly improved throughout the second quarter, driven by increased bookings at our urban and select service hotels. Comparable RevPAR improved from 18.4% below 2019 levels in April 2022 to 13.6% below 2019 levels in June 2022, generating a 130% increase in comparable monthly hotel EBITDA over the same period last year. We expect to benefit further from a rebound in business travel in the coming quarters, particularly at our full service hotels as demand continues to increase. Our net lease...
July 14, 2022
Service Properties Trust (Nasdaq: SVC) today announced a regular quarterly cash distribution on its common shares of $0.01 per common share ($0.04 per share per year). This distribution will be paid to SVC’s common shareholders of record as of the close of business on July 25, 2022 and distributed on or about August 18, 2022. About Service Properties Trust: Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with approximately $12 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of June 30, 2022, SVC owned 247 hotels with over 41,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service. As of June 30, 2022, SVC also owned 775 retail service-focused net lease properties totaling over 13 million square feet throughout United States. SVC is managed by The RMR Group (Nasdaq: RMR), an alternative asset management company with more...