Service Properties Trust Announces Fourth Quarter and Year End 2019 Results

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[{"type":"text","content":"\nFourth Quarter Net Loss of $(0.09) Per Common Share\n\n\nFourth Quarter Normalized FFO of $0.92 Per Common Share\n\n\nSold More Than $500 Million of Net Lease Assets During the Fourth Quarter\n\n\nCombined Existing Agreements With Marriott Into a Single Portfolio with an Extended Term, Increased Credit Support and Agreed to Sell Certain Hotels\n\n\nRestructured Business Arrangements with Sonesta\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nService Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter and year ended December 31, 2019:\n\n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\nDecember 31,\n\n\n\n \n\n\n\nYear Ended\nDecember 31,\n\n\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n\n\n \n\n\n\n($ in thousands, except per share data)\n\n\n\n\n\nNet income (loss)\n\n\n\n$\n\n\n\n(14,893\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(108,860\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n259,750\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n185,734\n\n\n\n \n\n\n\n\n\nNet income (loss) per common share\n\n\n\n$\n\n\n\n(0.09\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.66\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n1.58\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.13\n\n\n\n \n\n\n\n\n\nAdjusted EBITDAre (1)\n\n\n\n$\n\n\n\n227,013\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n149,773\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n851,431\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n805,303\n\n\n\n \n\n\n\n\n\nNormalized FFO (1)\n\n\n\n$\n\n\n\n151,622\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n99,994\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n620,663\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n605,708\n\n\n\n \n\n\n\n\n\nNormalized FFO per common share (1)\n\n\n\n$\n\n\n\n0.92\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.61\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3.78\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3.69\n\n\n\n \n\n\n\n\n\n\nAdditional information and reconciliations of net income (loss) determined in accordance with U.S. generally accepted accounting principles, or GAAP, to certain non-GAAP measures including EBITDA, EBITDAre, Adjusted EBITDAre, FFO and Normalized FFO, for the quarters and years ended December 31, 2019 and 2018 appear later in this press release.\n\n\n\nJohn Murray, President and Chief Executive Officer of SVC, made the following statement:\n\n\n\"We are pleased to have reached agreement with Marriott to extend our relationship, strengthen the credit support for SVC’s minimum ...

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