{"id":473871,"date":"2021-04-08T16:18:21","date_gmt":"2021-04-08T20:18:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473871"},"modified":"2021-04-08T16:18:21","modified_gmt":"2021-04-08T20:18:21","slug":"service-properties-trust-and-hyatt-agree-to-extend-termination-date","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/service-properties-trust-and-hyatt-agree-to-extend-termination-date\/","title":{"rendered":"Service Properties Trust and Hyatt Agree to Extend Termination Date"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Service Properties Trust and Hyatt Agree to Extend Termination Date <\/b><\/p>\n<p class=\"bwalignc\"><i>SVC and Hyatt Remain in Discussions Regarding Management Agreement<\/i><\/p>\n<p>NEWTON, Mass.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.svcreit.com%2Fhome%2Fdefault.aspx&amp;esheet=52408878&amp;newsitemid=20210408005859&amp;lan=en-US&amp;anchor=Service+Properties+Trust+%28Nasdaq%3A+SVC%29&amp;index=1&amp;md5=cc4b97cda498c60de27ab9d35e1a7770\">Service Properties Trust (Nasdaq: SVC)<\/a>, or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt.\n<\/p>\n<p><b>About Service Properties Trust<\/b><\/p>\n<p>\nService Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada. SVC\u2019s properties are operated by third parties pursuant to management or lease agreements. SVC is managed by the operating subsidiary of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.rmrgroup.com%2FHome%2F&amp;esheet=52408878&amp;newsitemid=20210408005859&amp;lan=en-US&amp;anchor=The+RMR+Group+Inc.+%28Nasdaq%3A+RMR%29&amp;index=2&amp;md5=9967058c6dde68e363ac7519a8ab8775\">The RMR Group Inc. (Nasdaq: RMR)<\/a>, an alternative asset management company that is headquartered in Newton, Massachusetts.\n<\/p>\n<p><b>Warning Concerning Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever SVC uses words such as \u201cbelieve\u201d, \u201cexpect\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201cestimate\u201d, \u201cwill\u201d, \u201cmay\u201d and negatives or derivatives of these or similar expressions, SVC is making forward-looking statements. These forward-looking statements are based upon SVC\u2019s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by SVC\u2019s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SVC\u2019s control. For example:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAlthough SVC is continuing negotiations with Hyatt, there can be no assurance that any agreement will be reached.\n<\/li>\n<\/ul>\n<p>\nThe information contained in SVC\u2019s filings with the Securities and Exchange Commission, or SEC, including under the caption \u201cRisk Factors\u201d in SVC\u2019s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC\u2019s forward-looking statements. SVC\u2019s filings with the SEC are available on the SEC&#8217;s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov%2F&amp;esheet=52408878&amp;newsitemid=20210408005859&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=3&amp;md5=1e40a5f96d5e2db1fdd2c1030a92c281\">www.sec.gov<\/a>.\n<\/p>\n<p>\nYou should not place undue reliance upon forward-looking statements.\n<\/p>\n<p>\nExcept as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.\n<\/p>\n<p class=\"bwalignc\">\nA Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.<br \/>\n<br \/>No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210408005859r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210408005859\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210408005859\/en\/<\/a><\/span><\/p>\n<p>\nKristin Brown, Director, Investor Relations<br \/>\n<br \/>(617) 796-8232\n<\/p>\n<p><b>KEYWORDS:<\/b> Massachusetts United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Construction &amp; Property Lodging Finance Travel Professional Services REIT Other Construction &amp; Property Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210408005859\/en\/750380\/3\/servicepropertiestrust-logo-rgb-highres.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Service Properties Trust and Hyatt Agree to Extend Termination Date SVC and Hyatt Remain in Discussions Regarding Management Agreement NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt. About Service Properties Trust Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/service-properties-trust-and-hyatt-agree-to-extend-termination-date\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Service Properties Trust and Hyatt Agree to Extend Termination Date&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-473871","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Service Properties Trust and Hyatt Agree to Extend Termination Date - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/service-properties-trust-and-hyatt-agree-to-extend-termination-date\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Service Properties Trust and Hyatt Agree to Extend Termination Date - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Service Properties Trust and Hyatt Agree to Extend Termination Date SVC and Hyatt Remain in Discussions Regarding Management Agreement NEWTON, Mass.&#8211;(BUSINESS WIRE)&#8211;Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt. 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