Service Properties Trust (SVC) Investor presentation summary

Portfolio and strategic direction

• 827 properties across 46 states, Washington, D.C., Puerto Rico and Canada; portfolio spans 22 industries, 150 brands and 192 tenants/operators.

• Net lease portfolio: 740 properties, 13.5M rentable sq. ft. and $395M annualized minimum rent; hotel portfolio: 87 properties, 19,897 keys and $1.2B LTM revenue.

• Strategy shifts the portfolio toward service-focused retail net lease through hotel dispositions, capital recycling and a focus on free cash flow.

• Since January 2024, 142 hotels were sold for ~$1.1B; 77 retained hotels have 17,593 keys, with ~70% of keys in the top 25 U.S. lodging markets.

Hotel performance and growth

• Retained hotels outperformed the U.S. hotel industry RevPAR benchmark by an average of 240 bps for eight consecutive quarters; 3Q26 RevPAR grew 8.3% YoY.

• 3Q26 retained hotel occupancy increased 330 bps YoY; adjusted Hotel EBITDA grew 16.2% with 130 bps of margin expansion.

• Renovation lift and operating initiatives target ~$109M of incremental EBITDA upside over ~12–24 months; projected retained hotel portfolio EBITDA is $248M at the 2026 guidance midpoint.

• 45% of retained hotels have been renovated since 2022; renovation recovery, events through 2028 and low expected new supply are cited as demand and pricing drivers.

• $628M of retained hotel CapEx is projected for 2023–2026, or ~$36,000 per key; 2026 spend is projected at ~12% of revenue as capital spending moderates.

Net lease portfolio

• Net lease portfolio occupancy was 97.6%, weighted average lease term 7.0 years and rent coverage 2.17x; less than 14% of annualized minimum rent expires before 2033.

• 175 travel centers anchor the portfolio, with rents guaranteed by investment-grade-rated BP Corporation North America Inc.; the top 10 brands account for 77.9% of annualized minimum rent.

• Travel centers are supported by a master trust with 471 properties, 98.9% occupancy, $153M annualized minimum rent and 1.70x debt service coverage.

• 3Q26 net lease occupancy was 97.6%, up 30 bps; five properties were acquired since 2Q26 for $14M.