Service Properties Trust - Shares Of Beneficial Interest · NASDAQ:SVC
Service Properties Trust - Shares Of Beneficial Interest — Hospitality Properties Trust — Q1 2017 Earnings Presentation
32 slides from Service Properties Trust - Shares Of Beneficial Interest's earnings presentation, May 10, 2017
Slide 1: First Quarter 2017 Supplemental Operating and Financial Data
All amounts in this report are unaudited. Hospitality Properties Trust First Quarter 2017 Supplemental Operating and Financial Data Residence Inn Atlanta Alpharetta/North Point Mall, Alpharetta, GA Operator: Marriott International Inc. Guest Rooms: 103 Staybridge Suites Alpharetta - North Point, Alp
Slide 2: Table of Contents
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 TABLE OF CONTENT S TABLE OF CONTENTS PAGE CORPORATE INFORMATION 6 Company Profile 7,8 Investor Information 9 Research Coverage 10 FINANCIALS Key Financial Data 12 Condensed Consolidated Balance Sheets 13 Condensed
Slide 3: Warning Concerning Forward Looking Statements
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 W ARNING CONCERNING FO RW ARD LOOKING S TA TEMENT S 3 THIS PRESENTATION OF SUPPLEMENTAL OPERATING AND FINANCIAL DATA CONTAINS STATEMENTS THAT CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE
Slide 4: Forward Looking Statements (continued)
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 FO RW ARD LOOKING S TA TEMENTS (continued ) 4 FOR EXAMPLE: • OUR ABILITY TO MAKE FUTURE DISTRIBUTIONS TO OUR SHAREHOLDERS AND TO MAKE PAYMENTS OF PRINCIPAL AND INTEREST ON OUR INDEBTEDNESS DEPENDS UPON A NUMBER OF
Slide 5: Forward Looking Statements (continued)
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 FO RW ARD LOOKING S TA TEMENTS (continued ) 5 • AT MARCH 31, 2017, WE HAD $23.8 MILLION OF CASH AND CASH EQUIVALENTS, $870.0 MILLION AVAILABLE UNDER OUR $1.0 BILLION REVOLVING CREDIT FACILITY AND SECURITY DEPOSITS
Slide 6: Corporate Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CORPORATE INFORMATION Country Inn & Suites by Carlson, San Diego North, San Diego, CA Operator: Carlson Hotels Worldwide Guest Rooms: 180
Slide 7: Company Profile
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 COM PAN Y PROFIL E 7 COMPANY PROFILE Hospitality Properties Trust, or HPT, we, our, or us, is a real estate investment trust, or REIT. As of March 31, 2017, we owned 308 hotels and 198 travel centers located in 45
Slide 8: Company Profile (continued)
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 COM PAN Y PROFILE (continued ) 8 COMPANY PROFILE Operating Statistics by Operating Agreement (as of 3/31/17) (dollars in thousands): Number Annualized Percent of Total Number of of Rooms / Minimum Minimum Coverage
Slide 9: Investor Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 INVES TOR INFORM ATIO N 9 INVESTOR INFORMATION Board of Trustees Donna D. Fraiche John L. Harrington William A. Lamkin Independent Trustee Lead Independent Trustee Independent Trustee Adam D. Portnoy Barry M. Port
Slide 10: Research Coverage
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 RESEARCH COVERAG E 10 RESEARCH COVERAGE Equity Research Coverage Baird Canaccord Genuity D.A. Davidson & Co. Michael Bellisario Ryan Meliker James O. Lykins (414) 298-6130 (212) 389-8094 (503) 603-3041 mbellisario
Slide 11: Financials
All amounts in this report are unaudited. Hospitality Properties Trust First Quarter 2017 Supplemental Operating and Financial Data Residence Inn Atlanta Alpharetta/North Point Mall, Alpharetta, GA Operator: Marriott International Inc. Guest Rooms: 103 Staybridge Suites Alpharetta - North Point, Alp
Slide 12: Key Financial Data
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 KE Y FINANCIA L D AT A 12 KEY FINANCIAL DATA (amounts in thousands, except per share data) As of and For the Three Months Ended 3/31/2017 12/31/2016 9/30/2016 6/30/2016 3/31/2016 Selected Balance Sheet Data: Total
Slide 13: Condensed Consolidated Balance Sheets
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CONDENSED CONSOLID ATED BALANCE SHEET S 13 CONDENSED CONSOLIDATED BALANCE SHEETS (dollar amounts in thousands, except share data) As of March 31, As of December 31, 2017 2016 ASSETS Real estate properties: Land $
Slide 14: Condensed Consolidated Statements of Income
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CONDENSED CONSOLID ATED S TA TEMENTS OF INCOM E 14 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (amounts in thousands, except share data) For the Three Months Ended March 31, 2017 2016 Revenues: Hotel operating rev
Slide 15: Notes to Condensed Consolidated Statements of Income
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 NOTES TO CONDENSED CONSOLID ATED S TA TEMENTS OF INCOME 15 NOTES TO CONDENSED CONSOLIDATED STATEMENTS OF INCOME (dollar amounts in thousands, except share data) (1) At March 31, 2017, we owned 308 hotels; 305 of t
Slide 16: Condensed Consolidated Statements of Cash Flows
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CONDENSED CONSOLID ATED S TA TEMENTS OF CASH FLOW S 16 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) For the Three Months Ended March 31, 2017 2016 Cash flows from operating activities: Net income
Slide 17: Debt Summary
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 DEBT SUMMA RY 17 DEBT SUMMARY As of March 31, 2017 (dollars in thousands) Interest Principal Maturity Due at Years to Rate Balance Date Maturity Maturity Unsecured Floating Rate Debt: $1,000,000 unsecured revolvin
Slide 18: Debt Maturity Schedule
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 DEBT M ATURIT Y SCHEDUL E 18 DEBT MATURITY SCHEDULE As of March 31, 2017 (dollars in thousands) Unsecured Unsecured Floating Fixed Year Rate Debt Rate Debt Total (4) 2017 $ — $ — $ — 2018 130,000 (1) 350,000 480,0
Slide 19: Leverage Ratios, Coverage Ratios and Public Debt Covenants
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 LEVERAGE R ATIOS, COVERAGE R ATIOS AND PUBLIC DEBT COVENANT S 19 LEVERAGE RATIOS, COVERAGE RATIOS AND PUBLIC DEBT COVENANTS As of and For the Three Months Ended 3/31/2017 12/31/2016 9/30/2016 6/30/2016 3/31/2016 L
Slide 20: FF&E Reserve Escrows
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 FF&E RESE RVE ESCROW S 20 FF&E RESERVE ESCROWS (1) (dollars in thousands) As of and For the Three Months Ended 3/31/2017 12/31/2016 9/30/2016 6/30/2016 3/31/2016 FF&E reserves (beginning of period) $ 60,456 $ 60,6
Slide 21: Property Acquisition and Disposition Information Since January 1, 2017
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 PROPERT Y ACQUISITION AND DISPOSITION INFORM ATION SINCE JANUA RY 1, 201 7 21 PROPERTY ACQUISITION AND DISPOSITION INFORMATION SINCE JANUARY 1, 2017 (dollars in thousands) ACQUISITIONS: Average Number Purchase Dat
Slide 22: Calculation of EBITDA and Adjusted EBITDA
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CALCUL ATION OF EBITD A AND ADJUSTED EBITD A 22 CALCULATION OF EBITDA AND ADJUSTED EBITDA (1) (in thousands) For the Three Months Ended 3/31/2017 12/31/2016 9/30/2016 6/30/2016 3/31/2016 Net income $ 37,171 $ 63,1
Slide 23: Calculation of FFO and Normalized FFO Available for Common Shareholders
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 CALCUL ATION OF FUNDS FROM OPER ATIONS (FFO) AND NORMALIZED FF O AV AILABLE FOR COMMON SHAREHOLDERS 23 CALCULATION OF FUNDS FROM OPERATIONS (FFO) AND NORMALIZED FFO AVAILABLE FOR COMMON SHAREHOLDERS (1) (dollar am
Slide 24: Non-GAAP Financial Measures Definitions
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 NON-GAA P FINANCIA L MEASURES DEFINITION S 24 Non-GAAP Financial Measures Definitions Definition of EBITDA and Adjusted EBITDA We calculate EBITDA and Adjusted EBITDA as shown on page 22. We consider EBITDA and Ad
Slide 25: Operating Agreements and Portfolio Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 OPERATING AGREEMENTS AND PORTFOLIO INFORMATION Wyndham Atlanta Galleria, Atlanta, GA Operator: Wyndham Hotel Group Guest Rooms: 296 Sonesta ES Suites, Orlando, FL Operator: Sonesta International Hotels Corp Guest
Slide 26: Portfolio by Operating Agreement and Manager
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 PORTFOLIO B Y OPER ATING AGREEMENT AND MANAGER 26 PORTFOLIO BY OPERATING AGREEMENT AND MANAGER As of March 31, 2017 (dollars in thousands) Percent of Percent of Percent of Total Total Total Percent of Investment A
Slide 27: Portfolio by Brand
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 PORTFOLIO B Y BRAN D 27 PORTFOLIO BY BRAND As of March 31, 2017 (dollars in thousands) Percent of Percent of Total Total Number of Number of Percent of Investment Number of Number of Rooms / Rooms / Total Per Bran
Slide 28: Operating Agreement Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 OPER ATING AGREEMENT INFORM ATIO N 28 Marriott No. 1- We lease 53 Courtyard by Marriott® branded hotels in 24 states to one of our taxable REIT subsidiaries, or TRSs. The hotels are managed by a subsidiary of Marr
Slide 29: Operating Agreement Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 OPER ATING AGREEMENT INFORM ATIO N 29 Sonesta- We lease our 34 Sonesta branded hotels (four Royal Sonesta Hotels®, five Sonesta Hotels & Resorts® and 25 Sonesta ES Suites® hotels) in 19 states to one of our TRSs.
Slide 30: Operating Agreement Information
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 OPER ATING AGREEMENT INFORM ATIO N 30 Morgans- We lease The Clift Hotel® in San Francisco, CA to a subsidiary of Morgans. This lease is scheduled to expire in 2103 and requires annual rent to us of $7,595, which a
Slide 31: Operating Statistics by Hotel Operating Agreement and Manager
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 OPER ATING S TA TISTICS B Y HOTE L OPER ATING AGREEMENT AND MANAGE R 31 OPERATING STATISTICS BY HOTEL OPERATING AGREEMENT AND MANAGER No. of For the Three Months Ended No. of Rooms / March 31, Hotels Suites 2017 2
Slide 32: Coverage by Operating Agreement and Manager
Hospitality Properties Trust Supplemental Operating and Financial Data, March 31, 2017 COVERAGE B Y OPER ATING AGREEMENT AND MANAGE R 32 COVERAGE BY OPERATING AGREEMENT AND MANAGER (1) Number of For the Twelve Months Ended Operating Agreement Properties 3/31/2017 12/31/2016 9/30/2016 6/30/2016 3/31/
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