Service Properties Trust (NASDAQ: SVC) reported Q4 EPS of ($0.09), versus ($0.66) reported last year. Revenue for the quarter came in at $580.91 million versus the consensus estimate of $567.74 million.

• Fourth Quarter Net Loss of $(0.09) Per Common Share
• Fourth Quarter Normalized FFO of $0.92 Per Common Share
• Sold More Than $500 Million of Net Lease Assets During the Fourth Quarter
• Combined Existing Agreements With Marriott Into a Single Portfolio with an Extended Term, Increased Credit Support and Agreed to Sell Certain Hotels
• Restructured Business Arrangements with Sonesta

John Murray, President and Chief Executive Officer of SVC, made the following statement:

"We are pleased to have reached agreement with Marriott to extend our relationship, strengthen the credit support for SVC’s minimum returns and provide SVC the opportunity to sell non-core hotels, which, together with ongoing renovation activity, is expected to result in improved coverage of SVC’s minimum returns for the Marriott portfolio. We also continue to make significant progress on our previously announced disposition plan as we have sold 130 net lease properties for $513 million and are at various stages of marketing 53 hotels for sale or rebranding."

“We also entered agreements to restructure our business arrangements with Sonesta on terms that we believe will benefit both us and Sonesta, pursuant to which we will be exiting all 39 extended stay hotels currently managed by Sonesta.”

"In the fourth quarter, comparable hotel RevPAR declined 0.2% compared to the prior year period due in part to occupancy decreases from 15 hotels under renovation, four of which were relatively higher revenue contributing full service hotels that impacted our Sonesta, Marriott and IHG portfolios. Comparable RevPAR for non-renovation hotels increased by 0.3%."

For earnings history and earnings-related data on Service Properties Trust (SVC) click here.