Service Properties Trust (NAS:SVC)
$ 5.57 0.18 (3.35%) Market Cap: 923.28 Mil Enterprise Value: 6.38 Bil PE Ratio: 0 PB Ratio: 0.83 GF Score: 71/100
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Service Properties Trust and Sonesta International Hotels Investor Day Transcript

May 23, 2022 / 08:00PM GMT
Release Date Price: $5.99 (+2.39%)
Todd W. Hargreaves
Service Properties Trust - President & CIO

Great. Well, welcome, everyone, to SVC's Investor Day. We want to welcome everyone here live with us in Chicago as well as everyone joining live via webcast. My name is Todd Hargreaves. I'm the President and Chief Investment Officer of Service Properties Trust. And the real reason we wanted to put on this event for you all today is really to introduce our investor community to the Sonesta team. SVC has had a long-standing relationship with Sonesta for about a decade now, but a couple of events that happened over the past couple of years that have really expanded that relationship.

First, we transitioned about 200 of our hotels for previous operators to Sonesta. So now Sonesta is now the largest operator of SVC-owned hotels. And second, SVC has taken a 34% ownership stake in Sonesta. And we think there's real upside in that value of that equity ownership, especially in light of Sonesta's recent entry into the franchise (inaudible) business, which Sonesta will cover here in a bit as well. So the format of today's presentation.

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