Service Properties Trust

Service Properties Trust is a real estate investment trust, which engages in the provision of hospitality and travel services. It operates through the following Hotel Investments and Net Lease Investments segments. The firm owns hotels and travel centers located throughout the U.S., Ontario, Canada, and Puerto Rico. The company was founded by Barry M. Portnoy on February 7, 1995 and is headquartered in Newton, MA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Service Properties Trust (SVC) reports strong Q4 performance and eyes growth opportunities in key markets

Service Properties Trust (SVC) delivered strong financial results in Q4 2022, driven by robust performance in its hotel portfolio and strategic initiatives to enhance operational efficiency.
Despite facing challenges in market conditions and operational transitions, SVC remains focused on capitalizing on growth opportunities through acquisitions and property renovations.
With a solid financial foundation and a proactive approach to managing assets, SVC is well-positioned to navigate market challenges and drive sustainable growth in the hospitality sector.

Service Properties Trust reports strong Q1 results amidst market challenges

SVC's Q1 2023 performance reflected strength in the hotel portfolio and operational improvements.
Challenges include tenant vacates impacting net lease rents and pending acquisitions.
Opportunities lie in exploring growth avenues, financing options, and market trends.
Overall, SVC showcased positive market positioning and financial resilience in Q1 2023.

Service Properties Trust (SVC) reports strong Q2 performance and strategic growth plans

Service Properties Trust (SVC) demonstrated robust performance in Q2, driven by strong hotel portfolio results and strategic financial management.
While facing challenges like inflation and labor costs, SVC's proactive approach to acquisitions and debt management positions them well for future growth.
Opportunities lie in optimizing operations, exploring growth in urban markets, and addressing financial concerns to sustain positive momentum.
Overall, SVC's focus on stability, growth, and financial prudence sets a solid foundation for continued success in the market.

Service Properties Trust (SVC) posts strong Q3 results amid evolving market dynamics

Service Properties Trust (SVC) reported solid Q3 results driven by hotel performance and positive business travel trends.
While facing challenges like debt maturities and operational integration, the company is leveraging strengths in brand loyalty and financial stability.
Opportunities lie in growing direct bookings, franchising efforts, and strategic debt management for long-term success.
Overall, SVC's focus on customer engagement and financial resilience positions them well for future growth and profitability.

Service Properties Trust reports mixed Q4 results, eyes growth opportunities

SVC navigated industry challenges with mixed performance across hotel segments.
Maintained strong financial metrics with a focus on operational efficiency and capital structure.
Balancing operational costs and revenue generation remains crucial for sustained growth.
Strategic initiatives and market positioning will be key to capitalizing on growth opportunities.

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hya

Service Properties Trust and Hyatt Agree to Extend Termination Date

Service Properties Trust has seen a lot of pain as a result of the COVID-19 pandemic. Even so, the company is holding up fairly well, and it should eventually recover.

Service Properties Trust: A Value Play For Long-Term Investors

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended December 31, 2020. John Murray, President and Chief Executive Officer of SVC, made the following statement: “Our fourth quarter operating results reflect the continuing impact of the COVID-19 pandemic on the overall lodging industry, as well as changes specific to the SVC hotel portfolio. We successfully transitioned 112 hotels to Sonesta brands and management durin

Service Properties Trust Announces Fourth Quarter 2020 Results

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the transition of branding and management for 78 hotels to subsidiaries of Sonesta International Hotels Corporation, or Sonesta, from Marriott International, Inc., or MAR. Ten additional hotels are expected to transition to Sonesta by the end of March. SVC entered short-term management agreements with Sonesta to manage the 78 hotels on terms substantially consistent with its leg

Service Properties Trust Completes Transfer of 78 Hotels to Sonesta

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that it will issue a press release containing its fourth quarter 2020 results after the Nasdaq closes on Friday, February 26, 2021. On Monday, March 1, 2021 at 10:00 a.m. Eastern Time, President and Chief Executive Officer John Murray, Chief Financial Officer Brian Donley and Chief Investment Officer Todd Hargreaves will host a conference call to discuss these results. The conference call telephone number is

Service Properties Trust Fourth Quarter 2020 Conference Call Scheduled for Monday, March 1st

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that the characterization of dividends for 2020 income tax reporting purposes is as follows: Common Shares     Dividend Allocation   Per Share                     Section       Total   Unrecaptured     Declaration   Record   Paid/Payable   Dividends   Ordinary   199A   Qualified   Capital   Section 1250   Return of Dates   Dates   Dates   Per Share   Income   Dividend(1)   Dividend(2)   Gain   Gain(3)   Capit

Service Properties Trust Announces 2020 Dividend Allocation

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has received a notice of termination from a subsidiary of Hyatt Hotels Corporation, or Hyatt, with respect to the management agreement for 22 Hyatt Place hotels owned by subsidiaries of SVC. Hyatt's obligations under the management agreement, which requires minimum returns of $22.0 million annually, is supported by a $50.0 million limited guaranty. While Hyatt is current on its payments to SV

Service Properties Trust Receives Termination Notice from Hyatt Covering 22 Hotels

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the previously announced sale of ten Hawthorn Suites branded hotels with 1,212 rooms and a net carrying value of $30.4 million for an aggregate sales price of $41.0 million, excluding closing costs. The proceeds from the sale will be used for the repayment of debt. SVC also entered a short-term lease and revised purchase agreement for its five remaining Hawthorn Suites branded h

Service Properties Trust Completes the Sale of Ten Hotels for $41.0 Million

Service Properties Trust has made the move to transition the majority of its hotel brands into sister company Sonesta. The company has a 34% stake in Sonesta. The transfer would allow Service Properties Trust to participate in some of the hotel management upside.

Service Properties Trust: Repositioning To Take Full Advantage Of A Recovery

Hotel REITs like SVC may seem like a good 'back-to-normalcy' play but recovery in hospitality business is likely to take a bit of time and some cash burn. Before enjoying the fruits of recovery, SVC has to avert a public debt covenant violation by selling assets, preserving cash and improving profitability.

Service Properties Trust - Recovery Story Or Value Trap?

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the previously announced transition of branding and management for 12 hotels to Sonesta International Hotels Corporation, or Sonesta. This includes three hotels from InterContinental Hotels Group, plc, or IHG, located in Canada and Puerto Rico and nine hotels from Marriott International, Inc., or MAR. SVC entered short term agreements with Sonesta to manage these 12 hotels that

Service Properties Trust Completes Transfer of 12 Additional Hotels to Sonesta

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the transition of branding and management for 99 hotels to subsidiaries of Sonesta International Hotels Corporation, or Sonesta, from InterContinental Hotels Group plc, or IHG. Three additional hotels located in Canada and Puerto Rico will transition to Sonesta in mid-December and one hotel located in Atlanta, GA will continue to be managed by IHG. SVC entered short term agreeme

Service Properties Trust Completes Transfer of 99 Hotels to Sonesta

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NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq:SVC) today announced that it has completed the previously announced sale of eight TownePlace Suites branded hotels with 834 rooms and a net carrying value of $35.0 million for an aggregate sales price of $45.3 million, excluding closing costs. The proceeds from the sale will be used for the repayment of debt. John Murray, President and Chief Executive Officer of SVC, made the following statement: “Given current market conditions,

Service Properties Trust Completes the Sale of Eight Hotels for $45.3 Million

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has priced an underwritten public offering of $450 million aggregate principal amount of 5.50% unsecured senior notes due 2027 guaranteed by certain of SVC's subsidiaries. The settlement of this offering is expected to occur on November 20, 2020, subject to the satisfaction of customary closing conditions. SVC expects to use the net proceeds from this offering to repay amounts outstanding und

Service Properties Trust Prices $450 Million of Senior Unsecured Notes

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that President and Chief Executive Officer John Murray, Chief Financial Officer Brian Donley and Chief Investment Officer Todd Hargreaves will be presenting at Nareit's REITworld: 2020 Virtual Investor Conference on Wednesday, November 18, 2020 at 9:30 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

Service Properties Trust to Present at Nareit's REITworld: 2020 Annual Conference on Wednesday, November 18th

Service Properties Trust (SVC) CEO John Murray on Q3 2020 Results - Earnings Call Transcript

Service Properties (SVC) delivered FFO and revenue surprises of -62.16% and 13.76%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

Service Properties (SVC) Misses Q3 FFO Estimates

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter and nine months ended September 30, 2020:   Three Months Ended September 30,   Nine months ended September 30,   2020   2019   2020   2019   ($ in thousands, except per share data) Net income (loss) $ (102,642)     $ 40,074     $ (173,641)     $ 274,643   Net income (loss) per common share $ (0.62)     $ 0.24     $ (1.06)     $ 1.67   Normalized FFO (1) $ 23,195     $ 155

Service Properties Trust Announces Third Quarter 2020 Results

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has amended the credit agreement governing its $1.0 billion revolving credit facility and $400.0 million term loan. The amendment provides for a waiver of all existing financial covenants under its credit agreement through July 15, 2022, during which, subject to certain conditions, SVC will continue to have access to undrawn amounts under the revolving credit facility. In connection with the

Service Properties Trust Amends $1.4 Billion Credit Agreement

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that it will issue a press release containing its third quarter 2020 results before the Nasdaq opens on Monday, November 9, 2020. Later that morning, at 10:00 a.m. Eastern Time, President and Chief Executive Officer John Murray, Chief Financial Officer Brian Donley and Chief Investment Officer Todd Hargreaves will host a conference call to discuss these results. The conference call telephone number is (877) 3

Service Properties Trust Third Quarter 2020 Conference Call Scheduled for Monday, November 9th

NEWTON, Mass., Oct. 7, 2020 /PRNewswire/ -- Sonesta International Hotels Corporation is now one of the nation's fastest growing hospitality management companies, with the pending addition of another large hotel portfolio in the coming months. Service Properties Trust (Nasdaq: SVC)...

Sonesta Continues Dramatic Domestic Growth

Marriott

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has terminated the management agreements for 122 hotels with Marriott International, Inc. (NYSE: MAR), or MAR. As previously announced, SVC sent a letter requesting MAR advance $11.0 million to cover the cumulative shortfall between the payments SVC had received to date and 80% of the cumulative priority returns due to SVC for the eight months ended August 2020. MAR had until October 5, 2020

Service Properties Trust Terminates Agreements with Marriott for 122 Hotels

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today sent a letter to Marriott International, Inc. (NYSE: MAR), or MAR, requesting MAR advance $11.0 million to cover the shortfall between the payments SVC has received to date from MAR and 80% of the priority returns due to SVC for the eight months ended August 2020. MAR has 10 days from receipt of the letter to make the payment, or SVC will have the right to terminate its agreement with MAR. SVC’s agreement with

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