# EDGAR Filing Document

**Accession Number:** 0000945394
**File Stem:** 0000945394-25-000080
**Filing Date:** 2025-10
**Character Count:** 26547
**Document Hash:** 4caaa8dc2bf634fa7ed6258cac894ee2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000945394-25-000080.hdr.sgml**: 20251001

**ACCESSION NUMBER**: 0000945394-25-000080

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250925

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251001

**DATE AS OF CHANGE**: 20251001

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Service Properties Trust
- **CENTRAL INDEX KEY:** 0000945394
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 043262075
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11527
- **FILM NUMBER:** 251365011

**BUSINESS ADDRESS:**
- **STREET 1:** C/O THE RMR GROUP
- **STREET 2:** TWO NEWTON PL., 255 WASH. ST., STE. 300
- **CITY:** NEWTON
- **STATE:** MA
- **ZIP:** 02458
- **BUSINESS PHONE:** (617) 964-8389

**MAIL ADDRESS:**
- **STREET 1:** C/O THE RMR GROUP
- **STREET 2:** TWO NEWTON PL., 255 WASH. ST., STE. 300
- **CITY:** NEWTON
- **STATE:** MA
- **ZIP:** 02458

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HOSPITALITY PROPERTIES TRUST
- **DATE OF NAME CHANGE:** 19950517

?xml version='1.0' encoding='ASCII'? svc-20250925

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT PURSUANT**

**TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of report (Date of earliest event reported): **September 25, 2025** 

**SERVICE PROPERTIES TRUST**

(Exact Name of Registrant as Specified in Its Charter)

**Maryland**

(State or Other Jurisdiction of Incorporation)

---

| | |
|:---|:---|
| **1-11527** | **04-3262075** |
| (Commission File Number) | (IRS Employer Identification No.) |

---

**Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458-1634**

(Address of Principal Executive Offices) (Zip Code)

**617-964-8389**

(Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

**☐** &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

**☐**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

**☐**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

**☐**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol** | **Name of each Exchange on which Registered** |
| Common Shares of Beneficial Interest | SVC | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company **☐** 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. **☐**

    

------

*In this Current Report on Form 8-K, the term "SVC" refers to Service Properties Trust and its consolidated subsidiaries, unless otherwise noted.*

**Item 2.01. Completion of Acquisition or Disposition of Assets.**

On September 25, 2025, SVC sold ten hotels with a total of 1,525 keys located in six states for a combined sales price of $71.1 million, excluding closing costs, pursuant to one of the agreements that SVC previously entered into to sell 113 hotels with a total of 14,803 keys for a combined sales price of $913.3 million, excluding closing costs, or the Sale Hotels. To date, SVC has sold 33 of the Sale Hotels with a total of 4,691 keys for a combined sales price of $229.3 million, excluding closing costs, and SVC remains under agreement to sell 80 Sale Hotels with a total of 10,112 keys for a combined sales price of $684.0 million, excluding closing costs. The remaining 80 Sale Hotels with be sold in phases, expected to be completed by the end of 2025. As previously disclosed, SVC expects to use the proceeds from the sales of the Sale Hotels to repay debt.

The hotel sales SVC has completed to date pursuant to one of the agreements for the Sale Hotels constitutes significant dispositions for purposes of Item 2.01 of Form 8-K. Accordingly, pro forma financial information required by Item 9.01 of Form 8-K is included as Exhibit 99.1 to this Current Report on Form 8-K.

For further information regarding SVC's completed hotel sales, please see its Current Reports on Form 8-K filed with the Securities and Exchange Commission, or the SEC, on <u>[September 10, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000065/svc-20250909.htm)</u>, <u>[September 18, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000069/svc-20250916.htm)</u>, <u>[September 24, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000072/svc-20250918.htm)[(](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000072/svc-20250918.htm)[filed with Item 2.0](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000072/svc-20250918.htm)[1)](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000072/svc-20250918.htm)</u> and <u>[September 29, 2025](https://www.sec.gov/ix?doc=/Archives/edgar/data/945394/000094539425000074/svc-20250923.htm)</u>.

**Warning Concerning Forward-Looking Statements**

This Current Report on Form 8-K contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. 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 as a result of various factors. For example, the pending sales of the remaining Sale Hotels are subject to conditions; accordingly, SVC cannot be sure that it will complete these sales, that these sales will not be delayed, that the terms will not change or, if the sales are completed, that it will use the proceeds as currently expected.

The information contained in SVC's filings with the SEC, including under the caption "Risk Factors" in SVC's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, or incorporated herein or therein, identifies other important factors that could cause differences from SVC's forward-looking statements. SVC's filings with the SEC are available on the SEC's website at www.sec.gov.

You should not place undue reliance upon SVC's forward-looking statements.

Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

**Item 9.01. Financial Statements and Exhibits.**

*(b) Pro Forma Financial Information.*

SVC's unaudited pro forma condensed consolidated balance sheet as of June 30, 2025 and SVC's unaudited pro forma condensed consolidated statements of loss for the year ended December 31, 2024 and for the six months ended June 30, 2025, and the notes related thereto, are filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

These unaudited pro forma condensed consolidated financial statements reflect SVC's financial position as if the sales of these hotels were completed as of June 30, 2025 and SVC's results of operations as if the sales of these hotels were completed as of January 1, 2024. These unaudited pro forma condensed consolidated financial statements are not necessarily indicative of SVC's expected financial position or results of operations for any future period. Differences could result from numerous factors, including future changes in SVC's portfolio of investments, capital structure, property level operating expenses and revenues, including returns received from SVC's hotels or rents expected to be received pursuant to SVC's

------

existing leases or leases SVC may enter into, changes in interest rates and other reasons. Actual future results are likely to be different from amounts presented in these unaudited pro forma condensed consolidated financial statements and such differences may be significant.

*(d) Exhibits.*

---

| | |
|:---|:---|
| <u>[99.1](exhibit991-92525.htm)</u> | <u>[Unaudited Pro Forma Condensed Consolidated Financial Statements. (Filed herewith.)](exhibit991-92525.htm)</u> |
| 104 | Cover Page Interactive Data File. (Embedded within the Inline XBRL document.) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | SERVICE PROPERTIES TRUST | SERVICE PROPERTIES TRUST |
| | | By: | /s/ Brian E. Donley |
| | | Name: | Brian E. Donley |
| | | Title: | Chief Financial Officer and Treasurer |
| Dated: | October 1, 2025 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

**SERVICE PROPERTIES TRUST**

**Introduction to Unaudited Pro Forma Condensed Consolidated Financial Statements**

On September 25, 2025, Service Properties Trust, or SVC, sold ten hotels with a total of 1,525 keys located in six states for a combined sales price of $71.1 million, excluding closing costs, or the Second Phase Closing, pursuant to a previously disclosed agreement that SVC entered into to sell, in phases, 18 hotels with a total of 2,628 keys for a combined sales price of $142.5 million, excluding closing costs, or the 18 Hotel Sale Portfolio. As previously reported, SVC sold eight hotels in the 18 Hotel Sale Portfolio with a total of 1,103 keys for a combined sales price of $71.4 million, excluding closing costs, or the First Phase Closing, on September 18, 2025. With the completion of the Second Phase Closing, SVC has sold all of the hotels in the 18 Hotel Sale Portfolio, which constitutes a significant disposition of assets.

The following unaudited pro forma condensed consolidated balance sheet as of June 30, 2025 reflects SVC's financial position as if the sales of the hotels in the 18 Hotel Sale Portfolio were completed as of June 30, 2025. The following unaudited pro forma condensed consolidated statements of loss for the year ended December 31, 2024 and for the six months ended June 30, 2025 reflect SVC's results of operations as if the sales of the hotels in the 18 Hotel Sale Portfolio were completed on January 1, 2024. These unaudited pro forma condensed consolidated financial statements should be read in conjunction with (i) SVC's unaudited condensed consolidated financial statements for the three and six months ended June 30, 2025, and the notes thereto, included in SVC's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or the SEC, on August 5, 2025, and (ii) SVC's consolidated financial statements for the year ended December 31, 2024, and the notes thereto, included in SVC's Annual Report on Form 10-K filed with the SEC on February 26, 2025.

These unaudited pro forma condensed consolidated financial statements are provided for informational purposes only and are not necessarily indicative of SVC's expected financial position or results of operations for any future period. Differences could result from numerous factors, including future changes in SVC's portfolio of investments, capital structure, property level operating expenses and revenues, including returns received from SVC's hotels or rents expected to be received pursuant to SVC's existing leases or leases SVC may enter into, changes in interest rates and other reasons. Actual future results are likely to be different from amounts presented in these unaudited pro forma condensed consolidated financial statements and such differences may be significant. In the opinion of management, all adjustments necessary to reflect, in all material respects, the effects of all the hotels sold in the 18 Hotel Sale Portfolio have been included.

------

**SERVICE PROPERTIES TRUST**

**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET**

**June 30, 2025**

**(dollars in thousands, except per share data)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** | |
|  |<br>**Historical** | **First Phase Closing** | **Second Phase Closing** |<br>**Pro Forma** |
| | **(A)** | **(B)** | **(C)** | |
| ASSETS |  |  |  |  |
| Real estate properties: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Land | $1735709 | $— | $— | $1735709 |
| &nbsp;&nbsp;&nbsp;Buildings, improvements and equipment | 6115921 |  |  | 6115921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate properties, gross | 7851630 |  |  | 7851630 |
| &nbsp;&nbsp;&nbsp;Accumulated depreciation | (2400670) |  |  | (2400670) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate properties, net | 5450960 |  |  | 5450960 |
| Acquired real estate leases and other intangibles, net | 100481 |  |  | 100481 |
| Assets of properties held for sale | 849100 | (50634) | (74366) | 724100 |
| Cash and cash equivalents | 63176 | 69260 | 68967 | 201403 |
| Restricted cash | 22855 |  |  | 22855 |
| Equity method investment | 111653 |  |  | 111653 |
| Due from related persons | 29219 | 1103 | 1525 | 31847 |
| Other assets, net | 305068 |  |  | 305068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $6932512 | $19729 | $(3874) | $6948367 |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |
| Unsecured debt, net | $4026768 | $— | $— | $4026768 |
| Secured debt, net | 1692494 |  |  | 1692494 |
| Accounts payable and other liabilities | 496822 |  |  | 496822 |
| Due to related persons | 13941 |  |  | 13941 |
| Liabilities of properties held for sale | 6543 |  |  | 6543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 6236568 |  |  | 6236568 |
| Commitments and contingencies |  |  |  |  |
| Shareholders' equity: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common shares of beneficial interest, $.01 par value; 200,000,000 shares authorized; 166,860,830 shares issued and outstanding | 1669 |  |  | 1669 |
| &nbsp;&nbsp;&nbsp;Additional paid in capital | 4562021 |  |  | 4562021 |
| &nbsp;&nbsp;&nbsp;Cumulative other comprehensive income | 2173 |  |  | 2173 |
| &nbsp;&nbsp;&nbsp;Cumulative net income | 2040380 | 19729 | (3874) | 2056235 |
| &nbsp;&nbsp;&nbsp;Cumulative common distributions | (5910299) |  |  | (5910299) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 695944 | 19729 | (3874) | 711799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $6932512 | $19729 | $(3874) | $6948367 |

---

The accompanying notes are an integral part of these unaudited proforma condensed consolidated financial statements.

------

**SERVICE PROPERTIES TRUST**

 **UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF LOSS**

**For the Year Ended December 31, 2024**

**(amounts in thousands, except per share data)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** | | |
|  |<br>**Historical** | **First Phase Closing** | **Second Phase Closing** | |<br>**Pro Forma** |
| | **(A)** | **(B)** | | | |
| Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotel operating revenues | $1496705 | $(24512) | $(40987) | (C) | $1431206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rental income | 400223 |  |  |  | 400223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 1896928 | (24512) | (40987) |  | 1831429 |
| Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotel operating expenses | 1274153 | (22327) | (36004) | (C) | 1215822 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net lease operating expenses | 19817 |  |  |  | 19817 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 371786 | (5285) | (7579) | (C) | 358922 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 40239 |  |  |  | 40239 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related costs | 6894 |  |  |  | 6894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on asset impairment, net | 56212 |  |  |  | 56212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 1769101 | (27612) | (43583) |  | 1697906 |
| Gain (loss) on sale of real estate, net | 6269 | 19729 | (3874) | (D) | 22124 |
| Interest income | 4052 |  |  |  | 4052 |
| Interest expense | (383792) |  |  |  | (383792) |
| Loss on early extinguishment of debt, net | (16181) |  |  |  | (16181) |
| Loss before income tax expense and equity in losses of an investee | (261825) | 22829 | (1278) |  | (240274) |
| Income tax expense | (1402) |  |  |  | (1402) |
| Equity in losses of an investee | (12299) |  |  |  | (12299) |
| Net loss | $(275526) | $22829 | $(1278) |  | $(253975) |
| Weighted average common shares outstanding (basic and diluted) | 165338 |  |  |  | 165338 |
| Net loss per common share (basic and diluted) | $(1.67) |  |  |  | $(1.54) |

---

The accompanying notes are an integral part of these unaudited proforma condensed consolidated financial statements.

------

**SERVICE PROPERTIES TRUST**

**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF LOSS**

**For the Six Months Ended June 30, 2025**

**(amounts in thousands, except per share data)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** | | |
|  |<br>**Historical** | **First Phase Closing** | **Second Phase Closing** | |<br>**Pro Forma** |
| | **(A)** | **(B)** | | | |
| Revenues: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotel operating revenues | $739368 | $(9981) | $(20576) | (C) | $708811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rental income | 199247 |  |  |  | 199247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 938615 | (9981) | (20576) |  | 908058 |
| Expenses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Hotel operating expenses | 634753 | (10577) | (18680) | (C) | 605496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net lease operating expenses | 11067 |  |  |  | 11067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 164130 | (1295) | (1889) | (C) | 160946 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 19774 |  |  |  | 19774 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related costs | 1456 |  |  |  | 1456 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on asset impairment | 54721 |  |  |  | 54721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 885901 | (11872) | (20569) |  | 853460 |
| Gain on sale of real estate, net | 590 |  |  |  | 590 |
| Interest income | 2071 |  |  |  | 2071 |
| Interest expense | (204196) |  |  |  | (204196) |
| Loss before income tax expense and equity in losses of an investee | (148821) | 1891 | (7) |  | (146937) |
| Income tax expense | (1300) |  |  |  | (1300) |
| Equity in losses of an investee | (4473) |  |  |  | (4473) |
| Net loss | $(154594) | $1891 | $(7) |  | $(152710) |
| Weighted average common shares outstanding (basic and diluted) | 165679 |  |  |  | 165679 |
| Net loss per common share (basic and diluted) | $(0.93) |  |  |  | $(0.92) |

---

The accompanying notes are an integral part of these unaudited proforma condensed consolidated financial statements.

------

**SERVICE PROPERTIES TRUST**

**NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(dollars in thousands)**

**Adjustments to Unaudited Pro Forma Condensed Consolidated Balance Sheet**

(A)&nbsp;&nbsp;&nbsp;&nbsp;Represents SVC's historical condensed consolidated balance sheet as of June 30, 2025, which was derived from SVC's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

(B)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the assets and liabilities associated with the eight hotels sold in the First Phase Closing of the 18 Hotel Sale Portfolio, as presented in SVC's unaudited pro forma condensed consolidated financial statements filed as Exhibit 99.1 to its Current Report on Form 8-K filed on September 24, 2025. The transaction accounting adjustments are as follows:

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| | |
|:---|:---|
| Assets of properties held for sale | $50634 |
| Working capital<sup>(1)</sup> | (1103) |
| Net book value | $49531 |
| Gross sales price | $71402 |
| Estimated closing costs<sup>(2)</sup> | (2142) |
| Estimated net proceeds | 69260 |
| Net book value | (49531) |
| Cumulative net income adjustment | $19729 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Represents working capital previously advanced from Sonesta International Hotels Corporation. Any remaining

working capital for sold hotels will be returned to SVC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;Represents estimated closing costs including broker's commissions, legal fees, transfer and recording fees and other

customary closing costs directly attributable to the sale of eight hotels in the 18 Hotel Sale Portfolio.

(C)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the assets and liabilities associated with ten hotels sold in the Second Phase Closing of the 18 Hotel Sale Portfolio. The transaction accounting adjustments are as follows:

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| | |
|:---|:---|
| Assets of properties held for sale | $74366 |
| Working capital<sup>(1)</sup> | (1525) |
| Net book value | $72841 |
| Gross sales price | $71100 |
| Estimated closing costs<sup>(2)</sup> | (2133) |
| Estimated net proceeds | 68967 |
| Net book value | (72841) |
| Cumulative net income adjustment | $(3874) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;Represents working capital previously advanced to Sonesta International Hotels Corporation. Any remaining

working capital for sold hotels will be returned to SVC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp;Represents estimated closing costs including broker's commissions, legal fees, transfer and recording fees and other

customary closing costs directly attributable to the sale of ten hotels in the 18 Hotel Sale Portfolio.

**Adjustments to Unaudited Pro Forma Condensed Consolidated Statements Loss**

**Year Ended December 31, 2024**

(A)&nbsp;&nbsp;&nbsp;&nbsp;Represents SVC's historical consolidated statement of loss for the year ended December 31, 2024, which was derived from SVC's Annual Report on Form 10-K for the year ended December 31, 2024.

(B)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the historical revenues and expenses for the year ended December 31, 2024, and the estimated gain on sale of eight hotels sold in the First Phase Closing of the 18 Hotel Sale Portfolio, as presented in SVC's unaudited pro forma condensed consolidated financial statements filed as Exhibit 99.1 to its Current Report on Form 8-K filed on September 24, 2025.

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(C)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the historical revenues and expenses for the year ended December 31, 2024, of ten hotels sold in the Second Phase Closing of the 18 Hotel Sale Portfolio.

(D)&nbsp;&nbsp;&nbsp;&nbsp;Represents the estimated loss on sale of ten hotels sold in the Second Phase Closing of the 18 Hotel Sale Portfolio, calculated as the estimated net proceeds of $68,967 less the net book value of the assets of $72,841, both as described in Note C of the adjustments to the unaudited pro forma condensed consolidated balance sheet.

**Six Months Ended June 30, 2025**

(A)&nbsp;&nbsp;&nbsp;&nbsp;Represents SVC's historical condensed consolidated statement of loss for the six months ended June 30, 2025, which was derived from SVC's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

(B)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the historical revenues and expenses for the year ended December 31, 2024, of eight hotels sold in the First Phase Closing of the 18 Hotel Sale Portfolio, as presented in SVC's unaudited pro forma condensed consolidated financial statements filed as Exhibit 99.1 to its Current Report on Form 8-K filed on September 24, 2025.

(C)&nbsp;&nbsp;&nbsp;&nbsp;Represents the removal of the historical revenues and expenses for the six months ended June 30, 2025, of ten hotels sold in the Second Phase Closing of the 18 Hotel Sale Portfolio.