Service Properties Trust Earnings Recaps
Q1 2026
May 8, 2026
Service Properties Trust’s shares rose 3.8% following results that highlighted effective deleveraging and better-than-expected hotel portfolio performance, driven by solid RevPAR gains and ongoing capitalization on asset renovations.
Key takeaways
- Completed $1.5 billion in capital markets transactions, including $575 million equity raise and $745 million ABS financings, to refinance $1.6 billion of debt and reduce annual interest expenses by $59 million.
- Hotel RevPAR increased 6.7% year-over-year across 93 hotels; excluding 15 hotels being marketed for sale, RevPAR rose 7.5%.
- Hotel EBITDA fell 9.2% to $18.4 million for the total portfolio but increased 2.1% to $26.2 million when excluding marketed hotels.
- Capital recycling efforts continued with hotel dispositions progressing despite softer pricing on some full-service assets; letters of intent secured for over $116 million in aggregate sale proceeds.
- Management emphasized active asset management and operational improvements to drive EBITDA growth amid macro uncertainties such as elevated fuel costs and geopolitical risks.
Q3 2025
Nov 6, 2025
Service Properties Trust reported strong strategic progress in Q3 2025, highlighted by successful asset sales and improved balance sheet metrics, despite external challenges in the travel sector.
Key takeaways
- Generated over $850 million from capital markets activities, including $295 million from hotel sales and $490 million from zero-coupon bond issuance.
- RevPAR outperformed the broader industry by 160 basis points, supported by occupancy gains despite a decline in Average Daily Rate (ADR).
- Completed the sale of 121 hotels for gross proceeds of $959 million, with further dispositions expected to enhance financial flexibility and support debt repayments.
- The net lease portfolio demonstrated stability, with over 2% rent growth and occupancy maintained above 97%, underscoring resilience amid consumer demand trends.
- Anticipate improved hotel performance following significant renovations and expected normalization post-asset dispositions.