Service Properties Trust
09/18/2025 | Press release | Distributed by Public on 09/18/2025 15:01
Asset Transaction (Form 8-K)
Item 2.01. Completion of Acquisition or Disposition of Assets.
On September 16, 2025, SVC sold two hotels with a total of 318 keys located in one state for a combined sales price of $25.0 million, excluding closing costs, pursuant to one of the agreements that SVC previously entered into to sell 113 hotels with a total of 14,803 keys for a combined sales price of $913.3 million, excluding closing costs, or the Sale Hotels. To date, SVC has sold nine of the Sale Hotels with a total of 1,313 keys for a combined sales price of $88.9 million, excluding closing costs, and SVC remains under agreement to sell 104 Sale Hotels with a total of 13,490 keys for a combined sales price of $824.4 million, excluding closing costs. The remaining 104 Sale Hotels will be sold in phases, expected to be completed by the end of 2025. As previously disclosed, SVC expects to use the proceeds from the sales of the Sale Hotels to repay debt, including a portion of the outstanding borrowings under its revolving credit facility.
Warning Concerning Forward-Looking Statements
This Current Report on Form 8-K contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever SVC uses words such as "believe", "expect", "anticipate", "intend", "plan", "estimate", "will", "may" and negatives or derivatives of these or similar expressions, SVC is making forward-looking statements. These forward-looking statements are based upon SVC's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by SVC's forward-looking statements as a result of various factors. For example, the pending sales of the remaining Sale Hotels are subject to conditions; accordingly, SVC cannot be sure that it will complete these sales, that these sales will not be delayed, that the terms will not change or, if the sales are completed, that it will use the proceeds as currently expected.
The information contained in SVC's filings with the Securities and Exchange Commission, or SEC, including under the caption "Risk Factors" in SVC's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, or incorporated herein or therein, identifies other important factors that could cause differences from SVC's forward-looking statements. SVC's filings with the SEC are available on the SEC's website at www.sec.gov.
You should not place undue reliance upon SVC's forward-looking statements.
Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
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