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Stock impact report

Service Properties Trust Announces First Quarter 2022 Results

Service Properties Trust - Shares of Beneficial Interest (SVC) 
Last service properties trust - shares of beneficial interest earnings: 2/28 07:00 am Check Earnings Report
Company Research Source: Business Wire
Net Loss of $(0.73) Per Common ShareNormalized FFO of $(0.02) Per Common ShareAdjusted EBITDAre of $90.1 millionAmended Revolving Credit Facility and Extended Maturity to January 2023Progress on Hotel Disposition Plan Continues NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended March 31, 2022.Todd Hargreaves, President and Chief Investment Officer of SVC, made the following statement:“Hotel operating trends began to improve in mid-February as the impact of the Omicron variant subsided and bookings increased at our urban and select service hotels. Comparable RevPAR improved as the first quarter progressed from 37.3% below 2019 levels in January 2022 to 25.7% below 2019 levels in March 2022. We expect to benefit further from a rebound in business travel in the coming quarters, particularly at our full service hotels as urban centers continue to reopen. Our net lease portfolio continues to provide steady c Show less Read more
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