Latest News

September 28, 2022
Enters Agreement to Sell 16 Hotels For $137.3 Million and Continues to Make Progress on Previously Announced Sales Service Properties Trust (Nasdaq: SVC) today announced it has entered into a purchase and sale agreement to sell 16 Marriott branded hotels totaling 2,155 keys for $137.3 million, excluding closing costs. SVC expects to close the transaction in the fourth quarter of 2022. In connection with its previously announced marketing of 68 Sonesta branded hotels, SVC has sold 61 of the hotels totaling 7,751 keys for aggregate proceeds of $523.1 million, excluding closing costs. SVC has entered into agreements to sell six additional hotels totaling 790 keys for an aggregate sales price of $34.2 million, excluding closing costs. SVC expects to close these six sales during the third and fourth quarters of 2022. SVC continues to market one additional 219 key Sonesta branded hotel. SVC expects to use the net proceeds of these transactions for general corporate purposes, including, but...
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...

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08/05/2022 10:00 AM EST

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Stock Quote: NASDAQ

Price 5.13

Change -0.36

Volume 430,431

% Change -6.56%

Intraday High 5.36

52 Week High 12.23

Intraday Low 5.00

52 Week Low 4.65

Today's Open 5.35

Previous Close 5.49

09/29/2022 12:33 PM Delayed 20 minutes
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Investor Relations Email: IR@svcreit.com Phone: 617-796-8232

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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