other material
confidence high
sentiment neutral
materiality 0.65
Service Properties Trust (SVC): M&A transaction — SVC completes sale of 6 hotels for $90.5M; 44 of 45 hotel sale portfolio sold
Service Properties Trust
- Sold five hotels (732 keys) Dec 16 for $75.5M and one hotel (138 keys) Dec 17 for $15.0M, excluding closing costs.
- Since Jan 1, 2025, sold 104 Sale Hotels (13,625 keys) for $813.2M and eight other hotels (1,006 keys) for $45.6M.
- Remains under agreement to sell two Sale Hotels (288 keys) for $11.9M; one expected by year-end 2025, one in early 2026.
- One hotel remaining in 45 Hotel Sale Portfolio under agreement for $4.8M; proceeds from hotel sales to repay debt.
- Pro forma balance sheet shows cash & equivalents of $718.8M and net debt of $5.77B after adjustments.