{"id":832204,"date":"2022-11-04T06:04:04","date_gmt":"2022-11-04T05:04:04","guid":{"rendered":"https:\/\/bebeez.it\/non-categorizzato\/service-properties-trust-announces-third-quarter-2022-results\/"},"modified":"2022-11-04T06:04:04","modified_gmt":"2022-11-04T05:04:04","slug":"service-properties-trust-announces-third-quarter-2022-results","status":"publish","type":"post","link":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/service-properties-trust-announces-third-quarter-2022-results\/","title":{"rendered":"Service Properties Trust Announces Third Quarter 2022 Results"},"content":{"rendered":"

\nNet Income of $0.05 Per Common Share\n<\/p>\n

\n100.0% Increase in Normalized FFO to $0.54 Per Common Share\n<\/p>\n

\n26.3% Increase in Adjusted EBITDAre to $173.5 Million\n<\/p>\n

NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC)<\/a> today announced its financial results for the quarter ended September 30, 2022.\n<\/p>\n

<\/a><\/p>\n

\nTodd Hargreaves<\/a>, President and Chief Investment Officer of SVC, made the following statement:\n<\/p>\n

\n\u201cHotel operating trends continued to recover in the third quarter, driven by increased bookings at our urban and suburban select service hotels. Comparable RevPAR increased by 29.6% over the prior year quarter. The solid performance of our operators generated a 77.1% increase in comparable hotel EBITDA over the same period last year.\n<\/p>\n

\nBusiness activity at our hotels in September and October increased, led by mid-week booking improvement. We expect to benefit further in the coming quarters from the continued business travel recovery, particularly at our full service and select service hotels. With ongoing hotel fundamentals improving, over $750 million of available liquidity and steady cash flows from our net lease portfolio, we increased our quarterly dividend to $0.20 per common share, which reflects our confidence in the business going forward.\u201d\n<\/p>\n

\nResults for the Quarter Ended September 30, 2022:\n<\/p>\n

\n\u00a0\n<\/p>\n

\nThree Months Ended September 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\n\u00a0\n<\/p>\n

\n($ in thousands, except per share data)\n<\/p>\n

\nNet income (loss)\n<\/p>\n

\n$\n<\/p>\n

\n7,500\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(59,714\n<\/p>\n

\n)\n<\/p>\n

\nNet income (loss) per common share\n<\/p>\n

\n$\n<\/p>\n

\n0.05\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(0.36\n<\/p>\n

\n)\n<\/p>\n

\nNormalized FFO (1)<\/p>\n

\n$\n<\/p>\n

\n88,458\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n43,781\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNormalized FFO per common share (1)<\/p>\n

\n$\n<\/p>\n

\n0.54\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.27\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdjusted EBITDAre (1)<\/p>\n

\n$\n<\/p>\n

\n173,455\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n137,324\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(1)\n<\/p>\n

\nAdditional information and reconciliations of net income (loss) determined in accordance with U.S. generally accepted accounting principles, or GAAP, to certain non-GAAP measures, including FFO, Normalized FFO, EBITDA, EBITDAre and Adjusted EBITDAre for the quarters ended September 30, 2022 and 2021 appear later in this press release.\n<\/p>\n

Net income (loss): Net income for the quarter ended September 30, 2022 was $7.5 million, or $0.05 per diluted common share, compared to a net loss of $59.7 million, or $0.36 per diluted common share, for the quarter ended September 30, 2021. Net income for the quarter ended September 30, 2022 includes $23.1 million, or $0.14 per diluted common share, of net unrealized gains on equity securities and a $1.2 million, or $0.01 per diluted common share, loss on asset impairment. Net loss for the quarter ended September 30, 2021 includes $24.3 million, or $0.15 per diluted common share, of net unrealized gains on equity securities and $3.1 million, or $0.02 per diluted common share, of transaction related costs. The weighted average number of diluted common shares outstanding was 164.7 million and 164.6 million for the quarters ended September 30, 2022 and 2021, respectively.<\/p>\n

Normalized FFO: Normalized FFO for the quarter ended September 30, 2022 were $88.5 million, or $0.54 per diluted common share, compared to Normalized FFO of $43.8 million, or $0.27 per diluted common share, for the quarter ended September 30, 2021.<\/p>\n

Adjusted EBITDAre: Adjusted EBITDAre for the quarter ended September 30, 2022 compared to the quarter ended September 30, 2021 increased 26.3% to $173.5 million.<\/p>\n

\nHotel Portfolio:\n<\/p>\n

\nAs of September 30, 2022, SVC\u2019s 242 hotels were operated by subsidiaries of Sonesta Holdco Corporation, or Sonesta (200 hotels), Hyatt Hotels Corporation, or Hyatt (17 hotels), Radisson Hospitality, Inc., or Radisson (eight hotels), Marriott International, Inc., or Marriott (16 hotels), and InterContinental Hotels Group, plc, or IHG (one hotel).\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nThree Months Ended September 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNine Months Ended September 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\n\u00a0\n<\/p>\n

\nChange\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\n\u00a0\n<\/p>\n

\nChange\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n($ in thousands, except hotel statistics)\n<\/p>\n

\nComparable Hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNo. of hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n240\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n240\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n239\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n239\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNo. of rooms or suites\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,246\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,246\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n39,874\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n39,874\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n65.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n59.3\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n6.6\n<\/p>\n

\npts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n62.0\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n51.2\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10.8\n<\/p>\n

\npts\n<\/p>\n

\nADR\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n140.05\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n120.08\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n16.6\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n133.41\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n107.79\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n23.8\n<\/p>\n

\n%\n<\/p>\n

\nHotel RevPAR\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n92.29\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n71.21\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n29.6\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n82.71\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n55.19\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n49.9\n<\/p>\n

\n%\n<\/p>\n

\nHotel operating revenues (1)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n398,399\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n296,521\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n34.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,046,980\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n680,787\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n53.8\n<\/p>\n

\n%\n<\/p>\n

\nHotel operating expenses (1)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n317,247\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n250,698\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n26.5\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n864,702\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n647,694\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n33.5\n<\/p>\n

\n%\n<\/p>\n

\nHotel EBITDA (1)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n81,152\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n45,823\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n77.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n182,278\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n33,093\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nn\/m\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel EBITDA margin\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.5\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.9\n<\/p>\n

\npts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n12.5\n<\/p>\n

\npts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAll Hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNo. of hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n242\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n304\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(62\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n242\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n304\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(62\n<\/p>\n

\n)\n<\/p>\n

\nNo. of rooms or suites\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,563\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48,439\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(7,876\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,563\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48,439\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(7,876\n<\/p>\n

\n)\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n65.8\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n60.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n5.7\n<\/p>\n

\npts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n61.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n52.2\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9.7\n<\/p>\n

\npts\n<\/p>\n

\nADR\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n140.05\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n114.55\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n22.3\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n134.19\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n102.84\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n30.5\n<\/p>\n

\n%\n<\/p>\n

\nHotel RevPAR\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n92.15\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n68.84\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n33.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n83.06\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n53.68\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n54.7\n<\/p>\n

\n%\n<\/p>\n

\nHotel operating revenues (1)(2)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n400,453\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n338,375\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n18.3\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,116,843\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n787,463\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n41.8\n<\/p>\n

\n%\n<\/p>\n

\nHotel operating expenses (1)(2)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n321,509\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n287,265\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n11.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n942,678\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n744,638\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n26.6\n<\/p>\n

\n%\n<\/p>\n

\nHotel EBITDA (1)(2)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n78,944\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n51,110\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n54.5\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n174,165\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n42,825\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nn\/m\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel EBITDA margin\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n19.7\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.6\n<\/p>\n

\npts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.6\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n5.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10.2\n<\/p>\n

\npts\n<\/p>\n

\n(1)\n<\/p>\n

\nReconciliations of hotel operating revenues and hotel operating expenses used to determine Hotel EBITDA from hotel operating revenues and hotel operating expenses determined in accordance with GAAP for the periods ended September 30, 2022 and 2021 appear later in this press release.\n<\/p>\n

\n(2)\n<\/p>\n

\nResults of all hotels as owned during the periods presented, including the results of hotels sold by SVC for the period owned by SVC.\n<\/p>\n

\nRecent operating statistics for SVC\u2019s hotels are as follows:\n<\/p>\n

\nComparable Hotels<\/span>\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n240 Hotels, 40,246 rooms\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022 vs 2019\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAverage Daily\n<\/p>\n

\nRate\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevPAR\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAverage Daily\n<\/p>\n

\nRate\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevPAR\n<\/p>\n

\nJuly\n<\/p>\n

\n\u00a0\n<\/p>\n

\n68.1%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$144.61\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$98.48\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(11.5)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10.9)%\n<\/p>\n

\nAugust\n<\/p>\n

\n\u00a0\n<\/p>\n

\n63.2%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$134.44\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$84.97\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(15.2)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(0.8\n<\/p>\n

\n)%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(20.0)%\n<\/p>\n

\nSeptember\n<\/p>\n

\n\u00a0\n<\/p>\n

\n66.3%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$140.74\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$93.31\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(9.3)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2.0\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10.5)%\n<\/p>\n

\nAll Hotels<\/span>\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n242 Hotels, 40,563 rooms\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022 vs 2019\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAverage Daily\n<\/p>\n

\nRate\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevPAR\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAverage Daily\n<\/p>\n

\nRate\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevPAR\n<\/p>\n

\nJuly\n<\/p>\n

\n\u00a0\n<\/p>\n

\n68.0%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$144.61\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$98.33\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(11.6)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.2\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(11.0)%\n<\/p>\n

\nAugust\n<\/p>\n

\n\u00a0\n<\/p>\n

\n63.1%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$134.44\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$84.83\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(15.3)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(0.8\n<\/p>\n

\n)%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(20.2)%\n<\/p>\n

\nSeptember\n<\/p>\n

\n\u00a0\n<\/p>\n

\n66.2%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$140.74\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$93.17\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(9.5)Pts\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10.7)%\n<\/p>\n

\nPreliminary October 2022 occupancy, ADR and RevPAR for SVC\u2019s 241 hotels as of November 3, 2022 were 66.5%, $143.42 and $95.37, respectively.\n<\/p>\n

\nNet Lease Retail Portfolio:\n<\/p>\n

\nSVC\u2019s net lease retail portfolio is summarized as follows:\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAs of September 30, 2022\n<\/p>\n

\nNumber of properties\n<\/p>\n

\n\u00a0\n<\/p>\n

\n769\n<\/p>\n

\nIndustries\n<\/p>\n

\n\u00a0\n<\/p>\n

\n21\n<\/p>\n

\nTenants\n<\/p>\n

\n\u00a0\n<\/p>\n

\n178\n<\/p>\n

\nBrands\n<\/p>\n

\n\u00a0\n<\/p>\n

\n136\n<\/p>\n

\nSquare feet\n<\/p>\n

\n\u00a0\n<\/p>\n

\n13.4 million\n<\/p>\n

\nOccupancy\n<\/p>\n

\n\u00a0\n<\/p>\n

\n98.1%\n<\/p>\n

\nWeighted average lease term (by annual minimum rent)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9.8 years\n<\/p>\n

\nRent Coverage\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2.88x\n<\/p>\n

\nDuring the quarter ended September 30, 2022, SVC recorded reserves for uncollectible revenues of $0.4 million for certain of its net lease tenants. During the quarter ended September 30, 2021, SVC reduced reserves for uncollectible revenues of $5.4 million for certain of its net lease tenants.\n<\/p>\n

\nRecent Investment Activities:\n<\/p>\n

\nDuring the quarter ended September 30, 2022, SVC sold five hotels with 603 keys for an aggregate sales price of $29.7 million, excluding closing costs, and six net lease properties with an aggregate of 14,056 rentable square feet for an aggregate sales price of $1.1 million, excluding closing costs. From October 1, 2022 through November 3, 2022, SVC sold one hotel with 120 keys for an aggregate sales price of $6.0 million, excluding closing costs.\n<\/p>\n

\nDuring the quarter ended September 30, 2022, SVC entered into agreements to sell 16 Marriott branded hotels with 2,155 keys located in nine states for an aggregate sales price of $137.3 million and four Sonesta branded hotels with 546 keys located in four states for an aggregate sales price of $25.2 million. These pending sales are subject to conditions; as a result, these sales may not occur, may be delayed or their terms may change. SVC expects the majority of these sales to be completed by the end of the first quarter of 2023. SVC continues to market one additional hotel with 219 keys for sale and three net lease properties with an aggregate of 8,575 rentable square feet.\n<\/p>\n

\nCapital expenditures made at certain of SVC\u2019s properties for the quarter ended September 30, 2022 were $24.4 million.\n<\/p>\n

\nLiquidity and Financing Activities:\n<\/p>\n

\nAs of November 1, 2022, SVC had approximately $114.0 million of cash and cash equivalents and $705.0 million undrawn under its revolving credit facility.\n<\/p>\n

\nAs previously announced, in October 2022, SVC and its lenders amended the agreement governing its revolving credit facility to, among other things, remove restrictions on paying common dividends and issuing secured debt previously agreed to during the existing waiver period, subject to certain conditions, and requires SVC to maintain minimum liquidity levels to address near term debt maturities. SVC also exercised its option to extend the maturity date of its revolving credit facility by six months to July 15, 2023.\n<\/p>\n

\nCommon Dividend:\n<\/p>\n

\nOn October 13, 2022, SVC announced a regular quarterly common dividend of $0.20 per share ($0.80 per share per year) payable to shareholders of record on October 24, 2022; this dividend will be paid on or about November 17, 2022.\n<\/p>\n

\nConference Call:\n<\/p>\n

\nOn November 4, 2022 at 10:00 a.m. Eastern Time, Todd Hargreaves, President and Chief Investment Officer and Brian Donley<\/a>, Chief Financial Officer and Treasurer, will host a conference call to discuss SVC\u2019s third quarter 2022 financial results. The conference call telephone number is (877) 329-3720. Participants calling from outside the United States and Canada should dial (412) 317-5434. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Friday, November 11, 2022. To access the replay, dial (412) 317-0088. The replay pass code is 9258276.\n<\/p>\n

\nA live audio webcast of the conference call will also be available in a listen-only mode on SVC\u2019s website, www.svcreit.com<\/a>. Participants wanting to access the webcast should visit SVC\u2019s website about five minutes before the call. The archived webcast will be available for replay on SVC\u2019s website for about one week after the call. The transcription, recording and retransmission in any way of SVC\u2019s third quarter conference call is strictly prohibited without the prior written consent of SVC.\n<\/p>\n

\nSupplemental Data:\n<\/p>\n

\nA copy of SVC\u2019s Third Quarter 2022 Supplemental Operating and Financial Data is available for download at SVC\u2019s website, www.svcreit.com<\/a>. SVC\u2019s website is not incorporated as part of this press release.\n<\/p>\n

\nService Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of September 30, 2022, SVC owned 242 hotels with over 40,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service. As of September 30, 2022, SVC also owned 769 retail service-focused net lease properties totaling over 13.4 million square feet throughout United States. SVC is managed by The RMR Group (Nasdaq: RMR)<\/a>, an alternative asset management company with over $37 billion in assets under management as of September 30, 2022 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com<\/a>.\n<\/p>\n

\nNon-GAAP Financial Measures and Certain Definitions:\n<\/p>\n

\nSVC presents certain \u201cnon-GAAP financial measures\u201d within the meaning of the applicable Securities and Exchange Commission, or SEC, rules, including funds from operations, or FFO, Normalized FFO, earnings before interest, taxes, depreciation and amortization, or EBITDA, Hotel EBITDA, EBITDA for real estate, or EBITDAre, and Adjusted EBITDAre. These measures do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income (loss) as indicators of SVC\u2019s operating performance or as measures of SVC\u2019s liquidity. These measures should be considered in conjunction with net income (loss) as presented in SVC\u2019s condensed consolidated statements of income (loss). SVC considers these non-GAAP measures to be appropriate supplemental measures of operating performance for a REIT, along with net income (loss). SVC believes these measures provide useful information to investors because by excluding the effects of certain historical amounts, such as depreciation and amortization expense, they may facilitate a comparison of SVC\u2019s operating performance between periods and with other REITs and, in the case of Hotel EBITDA, reflecting only those income and expense items that are generated and incurred at the hotel level may help both investors and management to understand the operations of SVC\u2019s hotels. SVC believes that Hotel EBITDA provides useful information to management and investors as a key measure of the profitability of its hotel operations.\n<\/p>\n

\nPlease see the pages attached hereto for a more detailed statement of SVC\u2019s operating results and financial condition and for an explanation of SVC\u2019s calculation of FFO and Normalized FFO, EBITDA, Hotel EBITDA, EBITDAre and Adjusted EBITDAre and a reconciliation of those amounts to amounts determined in accordance with GAAP.\n<\/p>\n

\nAverage Daily Rate, or ADR, represents rooms revenue divided by the total number of room nights sold in a given period. ADR provides useful insight on pricing at SVC\u2019s hotels and is a measure widely used in the hotel industry.\n<\/p>\n

\nComparable Hotels Data: SVC presents RevPAR, ADR, and occupancy for the periods presented on a comparable basis to facilitate comparisons between periods. SVC generally defines comparable hotels as those that were owned by it on September 30, 2022 and were open and operating for the entire periods being compared. For the three and nine months ended September 30, 2022 and 2021, SVC\u2019s comparable results excluded three hotels that had suspended operations during part of the periods presented.\n<\/p>\n

\nHotel EBITDA: Hotel EBITDA is calculated as hotel operating revenues less hotel operating expenses of all managed and leased hotels, prior to any adjustments required for presentation in SVC\u2019s condensed consolidated statements of income (loss) in accordance with GAAP.\n<\/p>\n

\nHotel EBITDA Margin: Hotel EBITDA Margin is Hotel EBITDA as a percentage of hotel operating revenues.\n<\/p>\n

\nOccupancy represents the total number of room nights sold divided by the total number of room nights available at a hotel or group of hotels. Occupancy is an important measure of the utilization rate and demand of SVC\u2019s hotels.\n<\/p>\n

\nRent Coverage: SVC defines Rent Coverage as earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, divided by the annual minimum rent due to SVC weighted by the minimum rent of the property to total minimum rents of the net lease portfolio. EBITDAR amounts used to determine rent coverage are generally for the latest twelve-month period reported based on the most recent operating information, if any, furnished by the tenant. Operating statements furnished by the tenant often are unaudited and, in certain cases, may not have been prepared in accordance with GAAP and are not independently verified by SVC. Tenants that do not report operating information are excluded from the rent coverage calculations. In instances where SVC does not have financial information for the most recent quarter from its tenants, it has calculated an implied EBITDAR for the 2022 third quarter using industry benchmark data to reflect current operating trends. SVC believes using this industry benchmark data provides a reasonable estimate of recent operating results and rent coverage for those tenants.\n<\/p>\n

\nRevenue per Available Room, or RevPAR, represents rooms revenue divided by the total number of room nights available to guests for a given period. RevPAR is an industry metric correlated to occupancy and ADR and helps measure revenue performance over comparable periods.\n<\/p>\n

\nSERVICE PROPERTIES TRUST\n<\/p>\n

\nCONDENSED CONSOLIDATED BALANCE SHEETS\n<\/p>\n

\n(dollars in thousands, except share data)\n<\/p>\n

\n(unaudited)\n<\/p>\n

\u00a0<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAs of September 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAs of December 31,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\nASSETS\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nReal estate properties:\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLand\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,903,619\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,918,385\n<\/p>\n

\n\u00a0\n<\/p>\n

\nBuildings, improvements and equipment\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n7,669,058\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n8,307,248\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal real estate properties, gross\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9,572,677\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10,225,633\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAccumulated depreciation\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(2,929,193\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(3,281,659\n<\/p>\n

\n)\n<\/p>\n

\nTotal real estate properties, net\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n6,643,484\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n6,943,974\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAcquired real estate leases and other intangibles, net\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n259,503\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n283,241\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAssets held for sale\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n142,972\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n515,518\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCash and cash equivalents\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n67,246\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n944,043\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRestricted cash\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10,891\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,375\n<\/p>\n

\n\u00a0\n<\/p>\n

\nEquity method investments\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n113,168\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n62,687\n<\/p>\n

\n\u00a0\n<\/p>\n

\nInvestment in equity securities\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n63,896\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n61,159\n<\/p>\n

\n\u00a0\n<\/p>\n

\nDue from related persons\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n58,292\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48,168\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOther assets, net\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n273,261\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n291,150\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal assets\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n7,632,713\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n9,153,315\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLIABILITIES AND SHAREHOLDERS\u2019 EQUITY\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevolving credit facility\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n95,000\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,000,000\n<\/p>\n

\n\u00a0\n<\/p>\n

\nSenior unsecured notes, net\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n5,652,590\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n6,143,022\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAccounts payable and other liabilities\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n414,870\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n433,448\n<\/p>\n

\n\u00a0\n<\/p>\n

\nDue to related persons\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n18,335\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n21,539\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal liabilities\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n6,180,795\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n7,598,009\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCommitments and contingencies\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nShareholders\u2019 equity:\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCommon shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 165,453,584 and 165,092,333 shares issued and outstanding, respectively\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,654\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,651\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdditional paid in capital\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4,554,358\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4,552,558\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCumulative other comprehensive income\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,513\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n779\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCumulative net income available for common shareholders\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,534,688\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,635,660\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCumulative common distributions\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(5,640,295\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(5,635,342\n<\/p>\n

\n)\n<\/p>\n

\nTotal shareholders\u2019 equity\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,451,918\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,555,306\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal liabilities and shareholders\u2019 equity\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n7,632,713\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n9,153,315\n<\/p>\n

\n\u00a0\n<\/p>\n

\u00a0<\/p>\n

\nSERVICE PROPERTIES TRUST\n<\/p>\n

\nCONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)\n<\/p>\n

\n(amounts in thousands, except per share data)\n<\/p>\n

\n(unaudited)\n<\/p>\n

\u00a0<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nThree Months Ended\n<\/p>\n

\nSeptember 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNine Months Ended\n<\/p>\n

\nSeptember 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\nRevenues:\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating revenues (1)<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n400,453\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n338,375\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,116,843\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n787,463\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRental income (2)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n97,798\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n98,724\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n290,949\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n286,742\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal revenues\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n498,251\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n437,099\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,407,792\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,074,205\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nExpenses:\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating expenses (1)(3)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n318,266\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n285,233\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n933,803\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n723,769\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOther operating expenses\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,511\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4,437\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9,162\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n11,758\n<\/p>\n

\n\u00a0\n<\/p>\n

\nDepreciation and amortization\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n101,514\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n124,163\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n306,147\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n370,208\n<\/p>\n

\n\u00a0\n<\/p>\n

\nGeneral and administrative\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n11,293\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14,231\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n35,743\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,840\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTransaction related costs (4)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,149\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,920\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n28,934\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLoss on asset impairment, net (5)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,172\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9,720\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,110\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal expenses\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n435,756\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n431,213\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,296,495\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,177,619\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(Loss) gain on sale of real estate, net (6)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(164\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n94\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n44,235\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10,934\n<\/p>\n

\n\u00a0\n<\/p>\n

\nUnrealized gains on equity securities, net (7)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n23,056\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n24,348\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,737\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20,367\n<\/p>\n

\n\u00a0\n<\/p>\n

\nInterest income\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,442\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n203\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,735\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n485\n<\/p>\n

\n\u00a0\n<\/p>\n

\nInterest expense (including amortization of debt issuance costs and debt discounts and premiums of $4,595, $5,877, $15,529 and $15,123, respectively)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(81,740\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(92,458\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(263,904\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(273,227\n<\/p>\n

\n)\n<\/p>\n

\nLoss on early extinguishment of debt (8)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(791\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\nIncome (loss) before income taxes and equity in earnings of an investee\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n5,089\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(61,927\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(103,691\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(344,855\n<\/p>\n

\n)\n<\/p>\n

\nIncome tax (expense) benefit\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(390\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n55\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(1,558\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(1,009\n<\/p>\n

\n)\n<\/p>\n

\nEquity in earnings of an investee (9)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,801\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,158\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4,277\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n50\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNet income (loss)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n7,500\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(59,714\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(100,972\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(345,814\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nWeighted average common shares outstanding (basic and diluted)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,745\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,590\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,697\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,532\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNet income (loss) per common share (basic and diluted)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.05\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(0.36\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(0.61\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(2.10\n<\/p>\n

\n)\n<\/p>\n

\u00a0<\/p>\n

\nSee Notes on page 12.\n<\/p>\n

\u00a0<\/p>\n

\nSERVICE PROPERTIES TRUST\n<\/p>\n

\nRECONCILIATIONS OF FUNDS FROM OPERATIONS, NORMALIZED FUNDS\n<\/p>\n

\nFROM OPERATIONS, EBITDA, EBITDAre AND ADJUSTED EBITDAre\n<\/p>\n

\n(amounts in thousands, except per share data)\n<\/p>\n

\n(unaudited)\n<\/p>\n

\u00a0<\/p>\n

\n\u00a0\n<\/p>\n

\nThree Months Ended\n<\/p>\n

\nSeptember 30,\n<\/p>\n

\nNine Months Ended\n<\/p>\n

\nSeptember 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n2021\n<\/p>\n

\n2022\n<\/p>\n

\n2021\n<\/p>\n

\nCalculation of FFO and Normalized FFO: (10)\n<\/p>\n

\nNet income (loss)\n<\/p>\n

\n$\n<\/p>\n

\n7,500\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(59,714\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(100,972\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(345,814\n<\/p>\n

\n)\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\nDepreciation and amortization\n<\/p>\n

\n\u00a0\n<\/p>\n

\n101,514\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n124,163\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n306,147\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n370,208\n<\/p>\n

\nLoss on asset impairment, net (5)<\/p>\n

\n\u00a0\n<\/p>\n

\n1,172\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9,720\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,110\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLoss (gain) on sale of real estate, net (6)<\/p>\n

\n\u00a0\n<\/p>\n

\n164\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(94\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(44,235\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10,934\n<\/p>\n

\n)\n<\/p>\n

\nUnrealized gains on equity securities, net (7)<\/p>\n

\n\u00a0\n<\/p>\n

\n(23,056\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(24,348\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(2,737\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(20,367\n<\/p>\n

\n)\n<\/p>\n

\nAdjustments to reflect SVC\u2019s share of FFO attributable to an investee (9)<\/p>\n

\n\u00a0\n<\/p>\n

\n1,103\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n369\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,674\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,868\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFFO\n<\/p>\n

\n\u00a0\n<\/p>\n

\n88,397\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n40,376\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n170,597\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(2,929\n<\/p>\n

\n)\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\nTransaction related costs (4)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,149\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,920\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n28,934\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLoss on early extinguishment of debt (8)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n791\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdjustments to reflect SVC’s share of Normalized FFO attributable to an investee (9)<\/p>\n

\n\u00a0\n<\/p>\n

\n61\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n256\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n899\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,619\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNormalized FFO\n<\/p>\n

\n$\n<\/p>\n

\n88,458\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n43,781\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n174,207\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n27,624\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nWeighted average common shares outstanding (basic and diluted)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,745\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,590\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,697\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n164,532\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nBasic and diluted per common share amounts:\n<\/p>\n

\nNet income (loss) per share\n<\/p>\n

\n$\n<\/p>\n

\n0.05\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(0.36\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(0.61\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(2.10\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFFO\n<\/p>\n

\n$\n<\/p>\n

\n0.54\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.25\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1.04\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(0.02\n<\/p>\n

\n)\n<\/p>\n

\nNormalized FFO\n<\/p>\n

\n$\n<\/p>\n

\n0.54\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.27\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1.06\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.17\n<\/p>\n

\n\u00a0\n<\/p>\n

\nDistributions declared per share\n<\/p>\n

\n$\n<\/p>\n

\n0.01\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.01\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.02\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.03\n<\/p>\n

\n\u00a0\n<\/p>\n

\nCalculation of EBITDA, EBITDAre and Adjusted EBITDAre: (11)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNet income (loss)\n<\/p>\n

\n$\n<\/p>\n

\n7,500\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(59,714\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(100,972\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n(345,814\n<\/p>\n

\n)\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\nInterest expense\n<\/p>\n

\n\u00a0\n<\/p>\n

\n81,740\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n92,458\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n263,904\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n273,227\n<\/p>\n

\n\u00a0\n<\/p>\n

\nIncome tax expense (benefit)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n390\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(55\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,558\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,009\n<\/p>\n

\n\u00a0\n<\/p>\n

\nDepreciation and amortization\n<\/p>\n

\n\u00a0\n<\/p>\n

\n101,514\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n124,163\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n306,147\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n370,208\n<\/p>\n

\n\u00a0\n<\/p>\n

\nEBITDA\n<\/p>\n

\n\u00a0\n<\/p>\n

\n191,144\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n156,852\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n470,637\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n298,630\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\nLoss on asset impairment, net (5)<\/p>\n

\n\u00a0\n<\/p>\n

\n1,172\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9,720\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,110\n<\/p>\n

\n\u00a0\n<\/p>\n

\nLoss (gain) on sale of real estate, net (6)<\/p>\n

\n\u00a0\n<\/p>\n

\n164\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(94\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(44,235\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10,934\n<\/p>\n

\n)\n<\/p>\n

\nAdjustments to reflect SVC\u2019s share of EBITDAre attributable to an investee (9)<\/p>\n

\n\u00a0\n<\/p>\n

\n2,787\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n464\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n5,541\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,123\n<\/p>\n

\n\u00a0\n<\/p>\n

\nEBITDAre\n<\/p>\n

\n\u00a0\n<\/p>\n

\n195,267\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n157,222\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n441,663\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n291,929\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\nTransaction related costs (4)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,149\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,920\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n28,934\n<\/p>\n

\n\u00a0\n<\/p>\n

\nUnrealized gains on equity securities, net (7)<\/p>\n

\n\u00a0\n<\/p>\n

\n(23,056\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(24,348\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(2,737\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(20,367\n<\/p>\n

\n)\n<\/p>\n

\nLoss on early extinguishment of debt (8)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n791\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdjustments to reflect SVC\u2019s share of Adjusted EBITDAre attributable to an investee (9)<\/p>\n

\n\u00a0\n<\/p>\n

\n272\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n256\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,566\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,619\n<\/p>\n

\n\u00a0\n<\/p>\n

\nGeneral and administrative expense paid in common shares (12)<\/p>\n

\n\u00a0\n<\/p>\n

\n972\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,045\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,266\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,490\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdjusted EBITDAre\n<\/p>\n

\n$\n<\/p>\n

\n173,455\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n137,324\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n445,469\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n304,605\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nSee Notes on page 12.\n<\/p>\n

\u00a0<\/p>\n

\nSERVICE PROPERTIES TRUST\n<\/p>\n

\nCALCULATION AND RECONCILIATION OF HOTEL EBITDA\n<\/p>\n

\nComparable Hotels\n<\/p>\n

\n(amounts in thousands)\n<\/p>\n

\n(unaudited)\n<\/p>\n

\u00a0<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nThree Months Ended\n<\/p>\n

\nSeptember 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNine Months\n<\/p>\n

\nEnded September 30,\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2022\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2021\n<\/p>\n

\nNumber of hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n240\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n240\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n239\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n239\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRoom revenues\n<\/p>\n

\n$\n<\/p>\n

\n339,106\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n257,885\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n891,053\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n596,479\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFood and beverage revenues\n<\/p>\n

\n\u00a0\n<\/p>\n

\n42,624\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n25,151\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n110,115\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n51,062\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOther revenues\n<\/p>\n

\n\u00a0\n<\/p>\n

\n16,669\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n13,485\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n45,812\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n33,246\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating revenues – comparable hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n398,399\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n296,521\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,046,980\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n680,787\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRooms expenses\n<\/p>\n

\n\u00a0\n<\/p>\n

\n103,580\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n80,589\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n273,928\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n196,795\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFood and beverage expenses\n<\/p>\n

\n\u00a0\n<\/p>\n

\n34,497\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20,851\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n86,475\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n43,897\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOther direct and indirect expenses\n<\/p>\n

\n\u00a0\n<\/p>\n

\n131,456\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n110,795\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n367,242\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n300,147\n<\/p>\n

\n\u00a0\n<\/p>\n

\nManagement fees\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14,847\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10,826\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n39,341\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n24,042\n<\/p>\n

\n\u00a0\n<\/p>\n

\nReal estate taxes, insurance and other\n<\/p>\n

\n\u00a0\n<\/p>\n

\n30,246\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n26,226\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n90,700\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n79,589\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFF&E reserves (13)<\/p>\n

\n\u00a0\n<\/p>\n

\n2,621\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,411\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n7,016\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,224\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating expenses – comparable hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n317,247\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n250,698\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n864,702\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n647,694\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel EBITDA – comparable hotels\n<\/p>\n

\n$\n<\/p>\n

\n81,152\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n45,823\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n182,278\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n33,093\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel EBITDA Margin\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.5\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.4\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating revenues (GAAP) (1)<\/p>\n

\n$\n<\/p>\n

\n400,453\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n338,375\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,116,843\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n787,463\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating revenues from non-comparable hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(2,054\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(41,854\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(69,863\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(106,676\n<\/p>\n

\n)\n<\/p>\n

\nHotel operating revenues – comparable hotels\n<\/p>\n

\n$\n<\/p>\n

\n398,399\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n296,521\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1,046,980\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n680,787\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating expenses (GAAP) (1)<\/p>\n

\n$\n<\/p>\n

\n318,266\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n285,233\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n933,803\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n723,769\n<\/p>\n

\n\u00a0\n<\/p>\n

\nAdd (Less):\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating expenses from non-comparable hotels\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(4,261\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(36,567\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(76,738\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(95,618\n<\/p>\n

\n)\n<\/p>\n

\nReduction for security deposit and guaranty fundings, net (3)<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u2014\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15,698\n<\/p>\n

\n\u00a0\n<\/p>\n

\nFF&E reserves from managed hotel operations (13)<\/p>\n

\n\u00a0\n<\/p>\n

\n2,621\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,411\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n7,016\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3,224\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOther (14)<\/p>\n

\n\u00a0\n<\/p>\n

\n621\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n621\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n621\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n621\n<\/p>\n

\n\u00a0\n<\/p>\n

\nHotel operating expenses – comparable hotels\n<\/p>\n

\n$\n<\/p>\n

\n317,247\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n250,698\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n864,702\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n647,694\n<\/p>\n

\n\u00a0\n<\/p>\n

\u00a0<\/p>\n

\nSee Notes on page 12.\n<\/p>\n

\u00a0
\n
Contacts <\/p>\n

\nStephen Colbert, Director, Investor Relations
\n
(617) 231-3223\n<\/p>\n

Read full story here <\/a><\/p>","protected":false},"excerpt":{"rendered":"

Net Income of $0.05 Per Common Share 100.0% Increase in Normalized FFO to $0.54 Per Common Share 26.3% Increase in Adjusted EBITDAre to $173.5 Million NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2022. Todd Hargreaves, President and Chief Investment Officer of SVC, made the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49630],"tags":[],"settori":[],"slider_categorie_and_home_page":[],"class_list":["post-832204","post","type-post","status-publish","format-standard","hentry","category-real-estate-in-asia-pacific"],"acf":[],"yoast_head":"\nService Properties Trust Announces Third Quarter 2022 Results - BeBeez<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/service-properties-trust-announces-third-quarter-2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Service Properties Trust Announces Third Quarter 2022 Results - BeBeez\" \/>\n<meta property=\"og:description\" content=\"Net Income of $0.05 Per Common Share 100.0% Increase in Normalized FFO to $0.54 Per Common Share 26.3% Increase in Adjusted EBITDAre to $173.5 Million NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2022. 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