As we announced in October, we are marketing the sale of 114 focused service and ESSA hotels with a total of 14,925 keys across the ES Suites, Simply Suites and Select brands and plan to utilize the proceeds to reduce SVC's leverage.

Feb 27, 2025 / CEO / receipt, needs a key / Todd Hargraves, CEO | earnings call 2025-02-27 | transcript 36a61261-4029-4d1c-adf6-9f6b8f1e5e5f | chars 5568-5801 | segment 5

Our extended stay portfolio experienced a 4.6% decline in REF PAR year-over-year. Consistent with a trend from previous quarters, our longer-term extended stay occupancy, stays of seven-plus nights, has been declining due to the loss of non-repeat project-based room nights. While synesthesis actually pivoted to shorter-term stays of these hotels to fill occupancy, the increased room nights were not enough to offset the reduced rates.

May 8, 2024 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2024-05-08 | transcript 8e0b0ae4-2150-42f6-b937-14613ea6eca8 | chars 4591-5028 | segment 4

Combined revenues from our business travel for our operators declined slightly year over year due to the ongoing renovations in our Hyatt portfolio and the shift in the Easter holiday from April last year to March this year. while business travel increased in our Sonesta portfolio from key corporate accounts at our select service hotels.

May 8, 2024 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2024-05-08 | transcript 8e0b0ae4-2150-42f6-b937-14613ea6eca8 | chars 5369-5708 | segment 5

As we have discussed previously, we continually evaluate opportunities to optimize our portfolio, specifically trimming our lodging portfolio of lower-performing hotels that have been a headwind to overall EBITDA. After careful analysis, we have begun to market 22 Senesta hotels totaling 2,832 keys for disposition, including nine Senesta ES Suites, five Simply Suites, seven Senesta Selects, and one full-service Senesta Hotel. These hotels have a net book value of $162 million and an aggregate reported negative EBITDA of $4.7 million during 2023. In addition, each of these hotels were slated for renovation in future years, which should reduce our overall capex spend. We expect that aggregate REVPAR and hotel EBITDA margins for the remaining hotel portfolio will improve with the removal of this subset of hotels.

Feb 29, 2024 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2024-02-29 | transcript 42a639fc-d39f-48d9-af74-3c090e6eb7cc | chars 7740-8561 | segment 7

While we expect market softness to continue during the first half of 2024, we are optimistic that the back half of the year should improve due to macroeconomic factors and improve business and inbound international travel.

Feb 29, 2024 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2024-02-29 | transcript 42a639fc-d39f-48d9-af74-3c090e6eb7cc | chars 2437-2659 | segment 2

Sure. It's mostly related to leisure travel, but we're also seeing a slowdown in business travel. Business travel still is probably - in our portfolio at least, around 70 to 80% of where it was in 2019. And in previous quarters, we had continued to see that tick up, and that's really slowed down and flattened out.

Feb 29, 2024 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2024-02-29 | transcript 42a639fc-d39f-48d9-af74-3c090e6eb7cc | chars 24493-24808 | segment 24

With over a billion dollars of total liquidity and a large pool of highly valuable unencumbered assets, including all of our travel centers leased to TA, we plan to be proactive in determining the most efficient and cost effective solutions to address these maturities in the near future.

Nov 7, 2023 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2023-11-07 | transcript a72c9d75-2824-4759-afd2-6355c6990de9 | chars 7977-8265 | segment 7

Business travel continues to trend positively as corporate negotiated revenue increased by 1.3% year-over-year, and SVC's portfolio is now at 76.1% of 2019 levels, up from last quarter's index of 70.8%.

Nov 7, 2023 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2023-11-07 | transcript a72c9d75-2824-4759-afd2-6355c6990de9 | chars 4518-4720 | segment 4

But we looked very hard at 10 to 15 hotels in different areas of Miami, most in South Beach, but also Brickell and Coral Gables and Coconut Grove. It's challenging to find an opportunity that kind of works for SVC, given our cost of capital and given our yield hurdles.

Aug 8, 2023 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2023-08-08 | transcript 69f8e637-1ae1-4fb2-95ac-c6a9eababd99 | chars 16474-16743 | segment 16

You know, I think it's a combination. I think it's a lot of the reasons that you pointed out. You know, it is the revenge travel component, you know, that we saw in 2021 and 2022. I think just right now people have less money to spend on discretionary travel. You know, interest rates are up. You know, people are spending more on car payments and other things.

Aug 8, 2023 / receipt, needs a key / Todd Hargraves, President and Chief Investment Officer | earnings call 2023-08-08 | transcript 69f8e637-1ae1-4fb2-95ac-c6a9eababd99 | chars 14289-14650 | segment 14