other_material
confidence high
sentiment negative
materiality 0.65
SVC sells 5 hotels for $44.9M; 106 hotels remain under agreement for $849.4M
Service Properties Trust
- Sold 5 hotels (690 keys) for $44.9M; total sales to date: 7 hotels for $63.9M.
- Remains under agreement to sell 106 hotels (13,808 keys) for $849.4M, expected completion by end of 2025.
- One hotel previously under agreement for $6.7M is no longer under agreement (122 keys).
- Proceeds from sales to be used to repay debt, including revolving credit facility.
- SVC considering additional property sales and debt refinancing, including zero-coupon bond financing.
item 2.01