{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-086013","form_type":"8-K","ticker":"SVC","cik":"0000945394","company_name":"Service Properties Trust","filed_at":"2025-09-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.749715+00:00","generated_at":"2026-05-17T09:08:01.478558+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"SVC enters 15-year Sonesta management pacts for 59 hotels; 111 sale hotels under agreement","bullets":["New 15-year management agreements for 59 retained hotels with Sonesta, effective Aug 1, 2025, with two 10-year renewal options.","Base fee: 3% gross revenue (full-service), 5% (extended stay/select); incentive fee 20% of EBITDA above threshold, capped at 3% or 5% of gross revenue.","Brand promotion fee 3.5% of gross room revenue; loyalty fee 1%-4.5% of room revenue; centralized service fee $1.1M (full-service) or $250K (others), CPI-adjusted.","SVC has sold 10 of 122 sale hotels and entered agreements to sell 111 more; Sonesta waived termination fees on sale hotels.","Owner can terminate if performance thresholds not met for two consecutive calendar years starting 2028."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-086013","json":"https://secwatch.observer/filing/0001104659-25-086013.json","markdown":"https://secwatch.observer/filing/0001104659-25-086013.md","text":"https://secwatch.observer/filing/0001104659-25-086013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/945394/000110465925086013/0001104659-25-086013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/945394/000110465925086013/tm2524729d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T09:08:01.478558+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}