Brief: Service Properties Trust Amends Management Agreements With Sonesta

Service Properties Trust

03/01/2022 22:05

Jan 3 (Reuters) - Service Properties Trust  SVC.O :
    * SERVICE PROPERTIES TRUST AMENDS MANAGEMENT AGREEMENTS WITH
SONESTA
    * SERVICE PROPERTIES TRUST - SALE OF 68 SONESTA HOTELS
EXPECTED TO
BE SUBSTANTIALLY COMPLETE IN Q1 2022
    * SERVICE PROPERTIES - CHANGES TO AGREEMENTS FOR 194 HOTELS
INCLUDE TERM FOR RETAINED HOTELS TO EXPIRE ON JAN 31, 2037,
INCLUDES 2 15-YEAR RENEWAL OPTIONS
    * SERVICE PROPERTIES - FOR SALE HOTELS, TERM TO BE EXTENDED
TO
EARLIER OF DEC 31, 2022/UNTIL HOTELS ARE SOLD & FF&E RESERVE
FUNDING REQUIREMENT TO BE REMOVED

Source text for Eikon:  ID:nBw7H9Qcqa 
Further company coverage:  SVC.O 

 ((Reuters.Briefs@thomsonreuters.com;))