Service Properties Trust and Hyatt Agree to Extend Termination Date

About this update from Service Properties Trust - Shares Of Beneficial Interest

[{"type":"text","content":"\nSVC and Hyatt Remain in Discussions Regarding Management Agreement\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nService Properties Trust (Nasdaq: SVC), or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt.\n\nAbout Service Properties Trust\n\nService Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada. SVC’s properties are operated by third parties pursuant to management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.\n\nWarning Concerning Forward-Looking Statements\n\nThis press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SVC’s control. For example:\n\n\nAlthough SVC is continuing negotiations with Hyatt, there can be no assurance that any agreement will be reached.\n\n\nThe information contained in SVC’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in SVC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC’s forwa...

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