At the macro level, the U.S. travel market continues to face headwinds with demand trends remaining uneven amid persistent economic uncertainty.

Nov 6, 2025 / CEO / receipt, needs a key / Chris Bellotto, CEO | earnings call 2025-11-06 | transcript ae44aab2-0429-4a8d-b7cf-353f76660c93 | chars 4892-5036 | segment 4

Yeah, I mean, I think at a very high level from the travel trends, you know, things have generally moderated quite a bit.

Nov 6, 2025 / CEO / receipt, needs a key / Chris Bellotto, CEO | earnings call 2025-11-06 | transcript ae44aab2-0429-4a8d-b7cf-353f76660c93 | chars 22398-22519 | segment 23

We plan to use these proceeds to strengthen SVC's balance sheet through debt repayments and strategies to improve the overall portfolio through certain triple net lease acquisitions and capital spending on hotels.

May 7, 2025 / CEO / receipt, needs a key / Chris Bellotto, CEO | earnings call 2025-05-07 | transcript 327e95a2-2477-4589-8dab-90a66fb9494d | chars 4571-4784 | segment 4

While performance within our lodging portfolio was in line with expectations, REVPAR softened as the quarter progressed, partially driven by a pullback in government and inbound international travel, as well as airlines reducing flight commitments and crew business.

May 7, 2025 / CEO / receipt, needs a key / Chris Bellotto, CEO | earnings call 2025-05-07 | transcript 327e95a2-2477-4589-8dab-90a66fb9494d | chars 3662-3928 | segment 3