Service Properties Trust announced its financial results for the fourth quarter ended December 31, 2024, reporting funds from operations (FFO) of $28.6 million, or 17 cents per share. The company's FFO and revenues for the quarter surpassed analyst estimates.
The hotel portfolio demonstrated robust RevPAR growth during the period. However, SVC continued to face financial pressures stemming from increased interest expenses and disruptions caused by ongoing renovations.
For its total hotel portfolio of 206 properties, SVC reported an occupancy of 60.8%, an Average Daily Rate (ADR) of $138.38, and a RevPAR of $84.13. Hotel Operating Revenues reached $355.6 million, with Hotel EBITDA at $37.6 million and a 10.6% margin.
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