Hotel & Retail Focused Net Lease Real Estate

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November 4, 2021
Third Quarter Net Loss of $(0.36) Per Common Share Third Quarter Normalized FFO of $0.27 Per Common Share Third Quarter Adjusted EBITDAre of $137.3 million Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2021. John Murray , President and Chief Executive Officer of SVC, made the following statement: “The third quarter marked a period of continued recovery for SVC’s hotel portfolio. SVC’s monthly hotel EBITDA has been positive since April and increased 71.0% versus the second quarter. Over the same period, portfolio-wide occupancy increased to 60.1% from 56.6% and RevPAR for comparable hotels increased by 18.2%, supported by stable extended stay occupancy and continued leisure demand. Comparable RevPAR for the 2021 third quarter was 70.1% of the pre-COVID-19 comparable RevPAR for the 2019 third quarter. With weekly COVID-19 cases on the decline, we expect to benefit from a rebound in business travel in the coming quarters,...
November 1, 2021
Amended Agreement Supported by $22.0 Million Guaranty Service Properties Trust (Nasdaq: SVC) , or SVC, today announced that it reached an agreement with a subsidiary of Radisson Hospitality, Inc., or Radisson, to amend their previous management agreement for nine hotels owned by subsidiaries of SVC. Under the amended agreement, Radisson will continue to manage eight of the hotels, including five Radisson Hotels and Resorts and three Country Inn & Suites by Radisson, for a 10-year term effective as of August 1, 2021. Among other terms, the new agreement with Radisson provides as follows: SVC’s owner’s priority return is set at $10.2 million annually, supported by a $22.0 million guaranty for 75% of the aggregate annual owner’s priority return beginning in 2023. A management fee equal to 3% of gross revenue for Radisson branded hotels and 5% of gross revenue for Country Inn & Suites hotels payable to Radisson will be an operating cost paid senior to SVC’s owner’s priority...

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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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