Service Properties Trust - Shares Of Beneficial Interest · NASDAQ:SVC
Service Properties Trust - Shares Of Beneficial Interest — Service Properties Trust — Q3 2025 Earnings Presentation
38 slides from Service Properties Trust - Shares Of Beneficial Interest's earnings presentation, Nov 6, 2025
Slide 1: Financial Results and Supplemental Information
Financial Results and Supplemental Information THIRD QUARTER 2025 November 5, 2025
Slide 2: Table of Contents
Table of Contents QUARTERLY RESULTS Service Properties Trust Announces Third Quarter 2025 Financial Results .......................................................................................................................... 4 FINANCIALS Third Quarter 2025 Highlights ..........................
Slide 3: Quarterly Results
Quarterly Results RETURN TO TABLE OF CONTENTS 3
Slide 4: Service Properties Trust Announces Third Quarter 2025 Financial Results
Service Properties Trust Announces Third Quarter 2025 Financial Results “SVC’s third quarter performance underscores Newton, MA (November 5, 2025): Service Properties Trust (Nasdaq: SVC) today announced its financial our ongoing efforts to reposition the company results for the quarter ended Septemb
Slide 5: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights • Net loss of $46.9 million, or $0.28 per common share. Financial • Normalized FFO of $33.9 million, or $0.20 per common share. Results • Adjusted EBITDAre of $145.0 million. • Hotel RevPAR of $100.25. Portfolio • Adjusted Hotel EBITDA of $45.4 million. Update • Net Lea
Slide 6: Third Quarter 2025 Highlights (Continued)
Third Quarter 2025 Highlights (Continued) • Invested $47.0 million in CapEx during the third quarter. • During the third quarter, acquired 13 net lease properties with a total of 67,450 square feet for a combined purchase price of $24.8 million, a weighted average lease term of 13.9 years and rent c
Slide 7: Financials
Financials RETURN TO TABLE OF CONTENTS 7
Slide 8: Key Financial Data
Key Financial Data (dollars in thousands, except per share data) As of and for the Three Months Ended As of 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 Selected Income Statement Data: Capitalization: Sonesta ES Suites Fort Lauderdale, FL Total revenues $ 478,770 $ 503,436 $ 435,179
Slide 9: Condensed Consolidated Statements of Income (Loss)
Condensed Consolidated Statements of Income (Loss) (amounts in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Revenues: Hotel operating revenues $ 377,576 $ 390,935 $ 1,116,944 $ 1,139,657 Rental income (1) 101,194 100,236 300,4
Slide 10: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (dollars in thousands, except per share data) September 30, December 31, 2025 2024 ASSETS Real estate properties: Land $ 1,740,833 $ 1,930,459 Buildings, improvements and equipment 6,136,065 7,682,885 Total real estate properties, gross 7,876,898 9,613,344 Accum
Slide 11: Debt Summary
Debt Summary As of September 30, 2025 (1) (dollars in thousands) Interest Principal Maturity Due at Years to Rate Balance Date Maturity Maturity (1) Adjusted for the redemption of all $450,000 of 4.75% senior unsecured notes due 2026 in October 2025. (2) SVC is required to pay interest at a rate of
Slide 12: Debt Maturity Schedule
Debt Maturity Schedule As of September 30, 2025 (1) (dollars in thousands) Secured vs. Unsecured Debt $1,750,000 $1,500,000 Secured 40.5% Unsecured $1,250,000 59.5% $582,113 $1,000,000 $45,000 $750,000 $600,737 $1,125,000 (1) Adjusted for the redemption of all $450,000 of 4.75% senior $500,000 $1,00
Slide 13: Leverage Ratios, Coverage Ratios and Debt Covenants
Leverage Ratios, Coverage Ratios and Debt Covenants As of and for the Trailing Twelve Months Ended Royal Sonesta New Orleans 9/30/2025 (1) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 New Orleans, LA Leverage Ratios: Net debt / total gross assets (2) 57.9 % 56.5 % 55.6 % 54.9 % 54.8 % Net debt / gross b
Slide 14: Capital Expenditures Summary
Capital Expenditures Summary (dollars in thousands) For the Three Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 Hotel capital improvements $ 43,208 $ 37,851 $ 42,498 $ 81,514 $ 80,075 Lease related costs 538 275 274 1,464 1,611 Recurring capital expenditures 43,746 38,126 42,772 82
Slide 15: Property Acquisitions and Dispositions
Property Acquisitions and Dispositions Since January 1, 2025 (dollars in thousands, except per room or suite data) ACQUISITIONS (1): Average Number of Property Number of Square Purchase Purchase Price per Average Cash GAAP Cap Weighted Average Average Rent Quarter Acquired Properties Type Brands Foo
Slide 16: Portfolio Information
Portfolio Information RETURN TO TABLE OF CONTENTS 16
Slide 17: Portfolio Summary
Portfolio Summary As of September 30, 2025 (dollars in thousands) Number of Properties The Yorkville Royal Sonesta Hotel Hotel Properties 160 Number of hotel rooms 29,536 Toronto, ON Net Lease Properties 752 Average hotel property size 185 rooms Total Properties 912 Net lease square feet 13,185,953
Slide 18: Consolidated Portfolio Diversification by Industry
Consolidated Portfolio Diversification by Industry As of September 30, 2025 (dollars in thousands) No. of Rooms / Percent of Total Industry Properties Square Footage Investments Investment 1. Hotels 160 29,536 $ 5,694,425 53.0% 2. Travel Centers 178 5,099,794 3,311,787 30.8% 3. Restaurants - Quick S
Slide 19: Consolidated Portfolio by Geographic Diversification
Consolidated Portfolio by Geographic Diversification As of September 30, 2025 (dollars in thousands) Investments Net Total Property Hotel Lease Hotel % Net Lease State Count Count Count Total % of Total Hotel of Total Net Lease % of Total California 54 32 22 $ 1,402,629 13.0 % $ 1,129,564 19.8 % $ 2
Slide 20: Hotel Portfolio by Brand
Hotel Portfolio by Brand As of September 30, 2025 (dollars in thousands, except per room or suite data) Percent of Percent of Number of Total Number Percent of Number of Total Number Rooms or of Rooms or Total Hotel Investment Per Brand Service Level Chain Scale Hotels of Hotels Suites Suites Invest
Slide 21: Hotel Operating Statistics by Service Level - All Hotels
Hotel Operating Statistics by Service Level - All Hotels* (dollars in thousands, except ADR and RevPAR) Occupancy ADR RevPAR Adjusted Hotel EBITDA Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, No. of No. of Rooms B
Slide 22: Hotel Operating Statistics by Service Level - All Hotels
Hotel Operating Statistics by Service Level - All Hotels* (dollars in thousands, except ADR and RevPAR) Occupancy ADR RevPAR Adjusted Hotel EBITDA Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, No. of No. of Rooms or Br
Slide 23: Net Lease Portfolio by Brand
Net Lease Portfolio by Brand As of September 30, 2025 (dollars in thousands) Percent of Percent of Total No. of Total Annualized Annualized Rent Brand Properties Square Feet Investment Investment Minimum Rent Minimum Rent Coverage 1. TravelCenters of America Inc. 131 3,683,923 $ 2,254,950 44.6 % $ 1
Slide 24: Net Lease Portfolio by Industry
Net Lease Portfolio by Industry As of September 30, 2025 (dollars in thousands) Percent of Percent of Total No. of Total Annualized Annualized Rent Industry Properties Square Feet Investment Investment Minimum Rent Minimum Rent Coverage 1. Travel Centers 178 5,099,794 $ 3,311,787 65.5% $ 267,574 68.
Slide 25: Net Lease Portfolio by Tenant (Top 10)
Net Lease Portfolio by Tenant (Top 10) As of September 30, 2025 (dollars in thousands) Percent of Total Percent of Annualized Annualized Weighted No. of Total Minimum Minimum Average Rent Tenant Brand Affiliation Properties Square Feet Investment Investment Rent Rent Lease Term Coverage 1. TravelCen
Slide 26: Net Lease Portfolio - Expiration Schedule
Net Lease Portfolio - Expiration Schedule As of September 30, 2025 (dollars in thousands) Number Percent of Total Cumulative Percent of of Annualized Minimum Annualized Minimum Rent Total Annualized Year (1) Properties Square Feet Rent Expiring Expiring Minimum Rent Expiring 2025 13 140,372 $ 2,497
Slide 27: Net Lease Portfolio - Occupancy Summary
Net Lease Portfolio - Occupancy Summary As of September 30, 2025 As of and For the Three Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 Properties (end of period) 752 742 739 742 745 Vacant properties beginning of period 20 16 18 18 20 Vacant properties sold (2) (2) (3) (3) (4) Vaca
Slide 28: Appendix
Appendix RETURN TO TABLE OF CONTENTS 28
Slide 29: Company Profile and Research Coverage
Company Profile and Research Coverage The Company: Equity Research Coverage SVC is a REIT that owns hotels and service-focused B. Riley Securities, Inc. Oppenheimer & Co. Inc. retail net lease properties throughout the United John Massocca Tyler Batory States and in Puerto Rico and Canada. (646) 885
Slide 30: Governance Information
Governance Information Board of Trustees Christopher J. Bilotto Donna D. Fraiche Rajan C. Penkar Managing Trustee Lead Independent Trustee Independent Trustee Laurie B. Burns William A. Lamkin Adam D. Portnoy Independent Trustee Independent Trustee Chair of the Board & Managing Trustee Robert E. Cra
Slide 31: Calculation of FFO, Normalized FFO and CAD
Calculation of FFO, Normalized FFO and CAD (amounts in thousands, except per share data) For the Three Months Ended For the Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024 Net loss $ (46,945) $ (38,159) $ (116,435) $ (76,392) $ (46,901) $ (201,539) $ (199,134
Slide 32: Calculation of EBITDA, EBITDAre and Adjusted EBITDAre
Calculation of EBITDA, EBITDAre and Adjusted EBITDAre (dollars in thousands) For the Three Months Ended For the Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024 Net loss $ (46,945) $ (38,159) $ (116,435) $ (76,392) $ (46,901) $ (201,539) $ (199,134) Add (Less)
Slide 33: Calculation and Reconciliation of Hotel EBITDA and Adjusted Hotel EBITDA - All Hotels
Calculation and Reconciliation of Hotel EBITDA and Adjusted Hotel EBITDA - All Hotels* (dollars in thousands) For the Three Months Ended For the Nine Months Ended 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 9/30/2025 9/30/2024 Number of hotels 160 200 202 206 214 160 214 Room revenues $ 307,0
Slide 34: Notes to Condensed Consolidated Statements of Income (Loss) and Calculations of FFO, Normalized FFO, CAD, EBITDA
Notes to Condensed Consolidated Statements of Income (Loss) and Calculations of FFO, Normalized FFO, CAD, EBITDA, EBITDAre, Adjusted EBITDAre, Hotel EBITDA and Adjusted Hotel EBITDA (dollars in thousands) (1) SVC increased rental income by $2,257 and $4,030 for the three months ended September 30, 2
Slide 35: Non-GAAP Financial Measures and Certain Definitions
Non-GAAP Financial Measures and Certain Definitions Non-GAAP Financial Measures SVC presents certain “non-GAAP financial measures” within the meaning of the applicable Securities and Exchange Commission, or SEC, rules, including FFO, Normalized FFO, CAD, EBITDA, Hotel EBITDA, Adjusted Hotel EBITDA,
Slide 36: Non-GAAP Financial Measures and Certain Definitions (Continued)
Non-GAAP Financial Measures and Certain Definitions (Continued) Other Definitions Adjusted Hotel EBITDA Margin: Adjusted Hotel EBITDA as a percentage of hotel operating revenues. Adjusted Total Assets and Total Unencumbered Assets: Adjusted total assets and total unencumbered assets include the orig
Slide 37: Non-GAAP Financial Measures and Certain Definitions (Continued)
Non-GAAP Financial Measures and Certain Definitions (Continued) Investment: SVC defines hotel investment as historical cost of its properties plus capital improvements funded by it less impairment write-downs, if any, and excludes capital improvements made from FF&E Reserves funded from hotel operat
Slide 38: Warning Concerning Forward-Looking Statements
Warning Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”,
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