Service Properties Trust Announces Third Quarter 2024 Results

Rhea-AI Summary

Service Properties Trust (Nasdaq: SVC) has released its financial results for Q3 2024. The real estate investment trust manages a portfolio valued at over $11 billion, consisting of 214 hotels with over 36,000 guest rooms across the United States, Puerto Rico, and Canada, along with 745 service-focused retail net lease properties covering more than 13.3 million square feet throughout the United States. SVC is managed by The RMR Group, which has nearly $41 billion in assets under management as of September 30, 2024.

Positive

• Portfolio valued at over $11 billion in diversified real estate assets
• Extensive portfolio of 214 hotels with 36,000+ guest rooms
• Large retail portfolio with 745 net lease properties covering 13.3M sq ft

Negative

• None.

NEWTON, Mass.--(BUSINESS WIRE)-- Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2024, which can be found at the Quarterly Results section of SVC’s website at https://www.svcreit.com/investors/financial-information/default.aspx.

A conference call to discuss SVC’s third quarter results will be held on Thursday, November 7, 2024 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 329-3720 or (412) 317-5434 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (877) 344-7529; the replay pass code is 5076927. A live audio webcast of the conference call will also be available in a listen only mode on SVC’s website, at www.svcreit.com. The archived webcast will be available for replay on SVC’s website after the call. The transcription, recording and retransmission in any way of SVC’s third quarter conference call are strictly prohibited without the prior written consent of SVC.

About Service Properties Trust:

SVC is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of September 30, 2024, SVC owned 214 hotels with over 36,000 guest rooms throughout the United States and in Puerto Rico and Canada. As of September 30, 2024, SVC also owned 745 service-focused retail net lease properties with over 13.3 million square feet throughout the United States. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with nearly $41 billion in assets under management as of September 30, 2024, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241106106064/en/

Kevin Barry, Senior Director, Investor Relations

(617) 796-8232

Source: Service Properties Trust

FAQ

What is Service Properties Trust's (SVC) real estate portfolio composition as of Q3 2024?

As of Q3 2024, SVC's portfolio includes 214 hotels with over 36,000 guest rooms across the US, Puerto Rico, and Canada, plus 745 service-focused retail net lease properties covering over 13.3 million square feet in the US.

How much is Service Properties Trust's (SVC) total investment value in Q3 2024?

Service Properties Trust has over $11 billion invested across two asset categories: hotels and service-focused retail net lease properties.

Who manages Service Properties Trust (SVC) and what is their asset management value?

SVC is managed by The RMR Group, which has nearly $41 billion in assets under management as of September 30, 2024, with over 35 years of commercial real estate experience.