other material
confidence high
sentiment neutral
materiality 0.80
SVC sells 34 hotels for $224.7M; cumulative 85 of 113 hotels sold for $618.5M
Service Properties Trust
- Sold 31 hotels (3,734 keys) for $198.7M on Nov 18 and 3 hotels (357 keys) for $26.0M on Nov 19.
- Cumulative 85 of 113 Sale Hotels closed for $618.5M; 28 remain under agreement for $294.8M, expected by year-end.
- Proceeds from hotel sales will be used to repay debt.
- Pro forma financials for the 34-hotel and 25-hotel portfolios filed as Exhibits 99.1 and 99.2.