June 16, 2021
Service Properties Trust (Nasdaq: SVC) today announced the results of its 2021 Annual Meeting of Shareholders, which was held earlier today, as follows. Laurie B. Burns was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Independent Trustee is as follows: Independent Trustee Percentage of Shares Voted For Laurie B. Burns 76.0% William A. Lamkin was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Independent Trustee is as follows: Independent Trustee Percentage of Shares Voted For William A. Lamkin 65.7% Shareholders voted to approve executive compensation by means of an advisory vote. The final tabulation of the percentage of shareholders’ votes cast for this proposal is as follows: Proposal Percentage of Shares Voted For Approval of Executive Compensation 86.0% Shareholders ratified the appointment of Deloitte & Touche LLP as SVC’s independent...
June 7, 2021
Amended Agreement Supported by $30.0 Million Guaranty Service Properties Trust (Nasdaq: SVC) , or SVC, today announced that it reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to amend their previous management agreement for 22 Hyatt Place hotels owned by subsidiaries of SVC. Under the amended agreement, Hyatt will continue to manage 17 of the hotels for a 10-year term effective as of April 1, 2021. Among other terms, the new agreement with Hyatt provides as follows: SVC’s owner’s priority return is set at $12.0 million annually, supported by a $30.0 million guaranty for 75% of the aggregate annual owner’s priority return beginning in 2023. A management fee equal to 5% of gross room revenues payable to Hyatt will be an operating cost paid senior to SVC’s owner’s priority return. Following payment of SVC’s owner’s priority return and reimbursement of certain advances, if any, Hyatt may earn a 20% incentive management fee and SVC will receive the remaining...
May 25, 2021
Service Properties Trust (Nasdaq: SVC) today announced that President and Chief Executive Officer John Murray , Chief Financial Officer and Treasurer Brian Donley and Vice President and Chief Investment Officer Todd Hargreaves will be presenting at Nareit’s REITweek: 2021 Virtual Investor Conference on Wednesday, June 9, 2021 at 8:00 a.m. Eastern Time. To access the Company’s live presentation, please complete the complimentary registration for the conference at the following link: Nareit’s REITweek Registration . An on-demand recording will be available in the REITweek virtual environment for the remainder of the conference. For assistance with registering, please contact member@nareit.com . Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada. SVC’s properties are operated by third parties pursuant to management or lease...