Tyler Batory

Dori Kesten

John Massocca

Meredith Prichard Jensen

Bryan Maher

Jack Armstrong

Jackson Armstrong

Jonathan Jenkins

- Service Properties Trust (SVC) entered into a new management agreement with **Sonesta International Hotels Corporation** for **59** of its retained hotels, effective **August 1, 2025**.  **[945394_0001104659-25-086013_tm2524729d1_8k.htm:1]** 
- The agreement has an initial **15-year term** expiring on **July 31, 2040**, and includes a base management fee of **3.0% of gross revenues** for full service hotels and **5.0%** for extended stay and select service hotels.  **[945394_0001104659-25-086013_tm2524729d1_8k.htm:1]** **[945394_0001104659-25-086013_tm2524729d1_ex10-1.htm:37]** 
- Additionally, the agreement provides for an incentive fee equal to **20% of EBITDA** in excess of the incentive threshold, commencing with the **2026 calendar year**.  **[945394_0001104659-25-086013_tm2524729d1_8k.htm:1]** **[945394_0001104659-25-086013_tm2524729d1_ex10-1.htm:37]** 
- Service Properties Trust is required to fund capital expenditures and maintain minimum working capital, such as **$2,000 per guestroom** for full service hotels.  **[945394_0001104659-25-086013_tm2524729d1_8k.htm:1]** **[945394_0001104659-25-086013_tm2524729d1_ex10-1.htm:15]** 
- As of **August 29, 2025**, SVC has sold **10** of the **122** previously identified hotels for disposition, with agreements to sell **111** more and one still being marketed.  **[945394_0001104659-25-086013_tm2524729d1_8k.htm:1]**