Service Properties Trust Q3 net loss widens to $87.9M

SVC completed 14 of 15 planned hotel sales, while its Board rejected a non-binding $2.0 billion proposal for the hotel portfolio.

Available on EDGAR 11/04/2026 - 05:00 PM EST Accepted by SEC EDGAR 11/04/2026 - 04:59 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Service Properties Trust reported third-quarter 2026 revenue of $399.5 million, compared with $478.8 million a year earlier, and a net loss of $87.9 million, compared with $46.9 million. Normalized FFO was $43.8 million, or $0.34 per common share, and Adjusted EBITDAre was $133.5 million.

At its 77 Retained Hotels, Adjusted Hotel EBITDA increased 16.2% to $41.1 million and RevPAR increased 8.3% year over year. SVC completed 14 of 15 planned hotel exit sales for $116.7 million and is marketing two hotels with 795 keys. In October, it received a non-binding $2.0 billion proposal to acquire its hotel portfolio; the Board unanimously rejected it.

As of November 2, SVC reported $762.8 million in liquidity. Its current 2026 guidance is Normalized FFO of $113 million to $128 million ($1.07 to $1.22 per share), with a midpoint $13.5 million below prior guidance, and Adjusted EBITDAre of $489 million to $498 million. SVC declared a $0.05-per-share distribution payable on or about November 12 to holders of record October 19.

2 points · 0 major

NegativeiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointRetained Hotel Adjusted EBITDA increased 16.2% year over year.
• Moderate pointRetained Hotel RevPAR increased 8.3% year over year.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.2026 Normalized FFO guidance midpoint was $13.5 million lower than prior guidance.
• Moderate pointRevenue was $399.5 million, versus $478.8 million a year earlier.
• Moderate pointNet loss was $87.9 million, versus $46.9 million a year earlier.

Filing Explained

The revolver is undrawn but its 2027 maturity remains unresolved; the two hotel sales are at the letter-of-intent stage.

SVC says it is discussing an extension or refinancing of its $650 million secured revolving credit facility, which had no borrowings outstanding as of November 2, 2026 and matures June 29, 2027; the filing reports discussions, not a completed extension or refinancing.

The investor presentation places two hotels totaling 795 keys under letters of intent to sell, so their disclosed status is not a completed disposition.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Total revenues: $399.5 million Net loss: $87.9 million Normalized FFO per common share: $0.34 +5 more

8 metrics

Total revenues $399.5 million Quarter ended September 30, 2026; $478.8 million in the year-earlier quarter

Net loss $87.9 million Quarter ended September 30, 2026; $46.9 million in the year-earlier quarter

Normalized FFO per common share $0.34 Third quarter 2026

Adjusted EBITDAre $133.5 million Third quarter 2026

Retained Hotel Adjusted EBITDA growth 16.2% Year over year; $41.1 million for 77 Retained Hotels

Retained Hotel RevPAR growth 8.3% Year over year

Hotel exit sales $116.7 million 14 of 15 planned hotel exit sales completed

Non-binding hotel portfolio proposal $2.0 billion Received in October 2026 and rejected by the Board

Key Terms

Normalized FFO, Adjusted EBITDAre, RevPAR, Cash available for distribution, +1 more

5 terms

Normalized FFO financial

"Normalized FFO was $43.8 million"

Normalized FFO is a cash-focused measure of a real estate company's recurring operating performance, adjusted to remove one-time gains, losses, or unusual items so results reflect what the business typically earns. Think of it like reporting a restaurant’s average monthly sales after removing a single big catering event or a rare repair bill: it gives investors a clearer, apples-to-apples view of ongoing cash generation used to pay dividends and value the company.

Adjusted EBITDAre financial

"Adjusted EBITDAre was $133.5 million"

Adjusted EBITDA is a measure of a company's earnings that shows its profitability by focusing on core operations, excluding certain expenses or income that are unusual or not part of normal business activities. It provides investors with a clearer picture of how well the company is performing day-to-day, much like evaluating a restaurant's regular sales without counting special event or one-time expenses. This helps investors compare companies more fairly and assess their ongoing financial health.

RevPAR financial

"RevPAR increased 8.3% year over year"

RevPAR, or revenue per available room, is a measure used in the hotel industry to show how much money a hotel earns from each of its rooms over a certain period. It helps investors understand how well a hotel is performing financially, similar to how a store's sales per square foot reveal its profitability. Higher RevPAR indicates better use of resources and stronger financial health.

Cash available for distribution financial

"cash available for distribution, or CAD"

Cash available for distribution is the amount of cash a business has left after paying everyday operating costs, required debt payments and setting aside routine reserves, which can be paid out to shareholders or investors. It matters because it shows whether a company has real, repeatable money to cover dividends or distributions—like the portion of a household paycheck left after bills that you can safely spend or save—so investors can judge income sustainability and financial health.

rent coverage financial

"Rent coverage of 2.17x"

A measure of how easily a business or property can pay its rent from the money it earns, typically expressed as the ratio of operating cash flow or profit to rent expense. Investors use it to gauge the risk that a tenant or landlord faces if revenues fall—similar to checking how many months of pay you have saved to cover your rent before trouble starts.

Earnings Snapshot

Total revenues: $399.5 million · Guidance included

Third quarter 2026

Total revenues $399.5 million Compared with $478.8 million in the third quarter of 2025

Net loss $87.9 million Compared with $46.9 million in the third quarter of 2025

Normalized FFO $43.8 million; $0.34 per common share Compared with $33.9 million; $1.02 per common share in the third quarter of 2025

Adjusted EBITDAre $133.5 million Compared with $145.0 million in the third quarter of 2025

Guidance

Full year 2026: Normalized FFO of $113 million to $128 million ($1.07 to $1.22 per common share); Adjusted EBITDAre of $489 million to $498 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is SVC's 2026 financial guidance?

SVC's current 2026 guidance is Normalized FFO of $113 million to $128 million, or $1.07 to $1.22 per common share, and Adjusted EBITDAre of $489 million to $498 million. Net Lease NOI guidance is $373 million to $379 million.

What distribution did SVC declare for its common shares?

SVC declared a quarterly distribution of $0.05 per common share to shareholders of record as of the close of business on October 19, 2026. It is payable on or about November 12, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0000945394false00009453942026-11-042026-11-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 4, 2026

SERVICE PROPERTIES TRUST

(Exact Name of Registrant as Specified in Its Charter)

Maryland

(State or Other Jurisdiction of Incorporation)

001-11527						04-3262075
(Commission File Number)						(IRS Employer Identification No.)

Two Newton Place, 255 Washington Street, Suite 300, Newton, Massachusetts 02458-1634

(Address of Principal Executive Offices) (Zip Code)

617-964-8389

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐                                  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐                                    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐                                    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐                                    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name Of Each Exchange On Which Registered

Common Shares of Beneficial Interest

SVC

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 4, 2026, Service Properties Trust, or the Company, issued a summary press release and a detailed earnings presentation announcing the Company's financial results for the quarter ended September 30, 2026. Copies of the Company’s summary press release and detailed earnings presentation are furnished as Exhibits 99.1 and 99.2 hereto, respectively.

Item 7.01. Regulation FD Disclosure.

On November 4, 2026, the Company also posted to its website an investor presentation, a copy of which is furnished as Exhibit 99.3.

Item 9.01. Financial Statements and Exhibits.

(d)                                 Exhibits

99.1  Summary Press Release dated November 4, 2026

99.2  Earnings Presentation dated November 4, 2026

99.3  Investor Presentation dated November 4, 2026

104   Cover Page Interactive Data File (Embedded within the Inline XBRL document.)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SERVICE PROPERTIES TRUST

By:

/s/ Brian E. Donley

Name:

Brian E. Donley

Title:

Chief Financial Officer and Treasurer

Dated:

November 4, 2026

3

Exhibit 99.1

FOR IMMEDIATE RELEASE

Service Properties Trust Announces Third Quarter 2026 Results

Updated Investor Presentation Available on Company Website

Newton, MA (November 4, 2026). Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2026, which can be found at the Quarterly Results section of SVC’s website at https://www.svcreit.com/investors/financial-information/default.aspx. SVC also posted an updated investor presentation to its website.

A conference call to discuss SVC’s third quarter results will be held on Thursday, November 5, 2026 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 329-3720 or (412) 317-5434 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (855) 669-9658; the replay pass code is 9615479. A live audio webcast of the conference call will also be available in a listen only mode on SVC’s website, at www.svcreit.com. The archived webcast will be available for replay on SVC’s website after the call. The transcription, recording and retransmission in any way of SVC’s third quarter conference call are strictly prohibited without the prior written consent of SVC.

About Service Properties Trust:

SVC is a real estate investment trust with $9.6 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of September 30, 2026, SVC owned 740 service-focused retail net lease properties with over 13.5 million square feet throughout the United States and 87 hotels with approximately 20,000 guest rooms throughout the United States, including Puerto Rico, and Canada. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $37 billion in assets under management as of September 30, 2026, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com.

Contact:

Kevin Barry, Senior Director, Investor Relations

(617) 796-8232

(end)

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Financial Results and Supplemental Information THIRD QUARTER 2026 November 4, 2026 Exhibit 99.2 24225 W. Lorenzo Road Wilmington, IL

2 Table of Contents 3 Third Quarter Highlights and Full Year Guidance 8 Financial Information 17 Portfolio Information 30 Appendix 39 Warning Concerning Forward-Looking Statements SVC Nasdaq Listed Trading Symbol: Common Shares: SVC Investor Relations Contact: Kevin Barry, Senior Director (617) 796-8232 ir@svcreit.com Corporate Headquarters: Two Newton Place 255 Washington Street, Suite 300 Newton, Massachusetts 02458-1634 www.svcreit.com All amounts in this presentation are unaudited. After the close of trading on July 6, 2026, SVC effected a 1-for-5 reverse share split of its then issued and outstanding common shares. All impacted amounts and share information included herein have been retroactively adjusted, as if such reverse share split occurred on the first day of the first period presented. Additional information and reconciliations of Non-GAAP Financial Measures to amounts determined in accordance with U.S. GAAP appear in the Appendix to this presentation. Please refer to Non-GAAP Financial Measures and Certain Definitions for terms used throughout this presentation.

3RETURN TO TABLE OF CONTENTS Third Quarter Highlights and Full Year Guidance

4RETURN TO TABLE OF CONTENTS Newton, MA (November 4, 2026): Service Properties Trust (Nasdaq: SVC) today announced its financial results for the quarter ended September 30, 2026. Distribution: SVC declared a quarterly distribution on its common shares of $0.05 per share to shareholders of record as of the close of business on October 19, 2026. This distribution will be paid on or about November 12, 2026. Conference Call: A conference call to discuss SVC’s third quarter results will be held on Thursday, November 5, 2026 at 10:00 a.m. Eastern Time. The conference call may be accessed by dialing (877) 329-3720 or (412) 317-5434 (if calling from outside the United States and Canada); a pass code is not required. A replay will be available for one week by dialing (855) 669-9658; the replay pass code is 9615479. A live audio webcast of the conference call will also be available in a listen only mode on SVC’s website, at www.svcreit.com. The archived webcast will be available for replay on SVC’s website after the call. The transcription, recording and retransmission in any way of SVC’s third quarter conference call are strictly prohibited without the prior written consent of SVC. About Service Properties Trust: SVC is a real estate investment trust, or REIT, with $9.6 billion invested in two asset categories: service-focused retail net lease properties and hotels. As of September 30, 2026, SVC owned 740 service-focused retail net lease properties with over 13.5 million square feet throughout the United States and 87 hotels with approximately 20,000 guest rooms throughout the United States, including Puerto Rico, and Canada. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $37 billion in assets under management as of September 30, 2026, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit www.svcreit.com. Service Properties Trust Announces Third Quarter 2026 Financial Results “SVC’s third quarter results reflect continued progress in strengthening the company’s cash flows through active asset management, portfolio optimization and disciplined capital allocation. Our Retained Hotels increased RevPAR by 8.3% year over year, outperforming the U.S. hotel industry for the eighth consecutive quarter. Adjusted Hotel EBITDA at these hotels grew 16.2%, reflecting the increasing benefits of recently completed renovations and operational initiatives. We generated Normalized FFO of $0.34 per share and Adjusted EBITDAre of $133.5 million, both of which exceeded consensus estimates, and our rolling four-quarter cash available for distribution turned positive. Since the end of the second quarter, we have sold 14 hotels for aggregate proceeds of approximately $117 million, largely completing our 2026 hotel disposition program. Exiting these non-core, operationally challenged assets eliminates meaningful cash flow drag and avoids future capital expenditures. Hotels sold this year generated Hotel EBITDA losses of approximately $10.3 million through September. Our net lease portfolio, anchored by our travel centers, continues to provide durable cash flow, with rent coverage of 2.17x and occupancy of 97.6%. Looking ahead, we remain focused on executing our Board- approved strategy to expand margins at our Retained Hotels, improve leverage and continue shifting our portfolio toward service-focused retail net lease properties over time. We believe these efforts will support cash flow growth and long-term value creation for our shareholders.” Christopher Bilotto President and Chief Executive Officer

5RETURN TO TABLE OF CONTENTS Third Quarter 2026 Highlights Financial Results • Net loss of $87.9 million, or $0.68 per common share. • Normalized FFO of $43.8 million, or $0.34 per common share. • Adjusted EBITDAre of $133.5 million. Hotel Portfolio Update • In October 2026, SVC received an unsolicited, non-binding proposal from TKO LLC, or TKO, to acquire its hotel portfolio for $2.0 billion. SVC's Board of Trustees, including all of its Independent Trustees, unanimously rejected the proposal because it believes the proposal significantly undervalues SVC's hotel portfolio. SVC intends to continue the execution of its strategy, including working with its hotel operators to improve hotel performance, to maximize long-term value for shareholders. Hotel Performance • Adjusted Hotel EBITDA for 77 Retained Hotels was $41.1 million, an increase of 16.2% year over year, driven by an 8.3% increase year over year in RevPAR. • Nautilus Sonesta South Beach in Miami, Florida expected to fully reopen as the James Nautilus in Q4 2026 following its renovation. Update on Hotel Sales • Completed 14 of the 15 planned exit hotel sales for $116.7 million; sold six hotels with a total of 1,213 keys for a combined sales price of $66.1 million during the quarter, and eight hotels with a total of 1,509 keys for a combined sales price of $50.6 million since October 1, 2026. • Marketing two hotels with a total of 795 keys, including the Crowne Plaza Atlanta Perimeter at Ravinia by IHG in Atlanta, Georgia. Note: All purchases and sales prices referenced in the highlights exclude closing costs.

6RETURN TO TABLE OF CONTENTS Third Quarter 2026 Highlights (continued) Net Lease Portfolio Update • Net lease NOI of $94.8 million, flat sequentially. • Occupancy of 97.6%, reflecting reclassification of land assets held for potential future uses. • Rent coverage of 2.17x. Net Lease Investment Activity • Sold six net lease properties with a total of 18,804 square feet for a combined sales price of $1.5 million. • Acquired one net lease property with 7,627 square feet for a purchase price of $5.9 million, a remaining lease term of 10.4 years and rent coverage of 3.30x. • Since October 1, 2026, acquired a portfolio of four net lease properties with a total of 41,020 square feet for a combined purchase price of $8.3 million, a weighted average lease term of 14.4 years and rent coverage of 2.40x. Financing & Liquidity • Repaid and terminated $45.0 million variable funding note, or the VFN. • As of November 2, 2026, SVC had $762.8 million of liquidity, including $112.8 million of cash and cash equivalents and $650.0 million available under its revolving credit facility. • Effected a 1-for-5 reverse share split of its outstanding common shares. • Currently engaged in discussion with lender groups to extend or refinance SVC’s secured revolving credit facility. Note: All purchases and sales prices referenced in the highlights exclude closing costs.

7RETURN TO TABLE OF CONTENTS Full Year 2026 Guidance (amounts in thousands, except RevPAR, share amounts and per share data) Current Full Year 2026 Guidance (1) (2) Previous Full Year 2026 Guidance Change at Midpoint Low End High End Low End High End Total RevPAR: Retained Hotels $ 117.00 $ 122.00 $ 116.00 $ 121.00 $ 1.00 Exit Hotels $ 74.00 $ 79.00 $ 70.00 $ 75.00 $ 4.00 RevPAR Total/Average $ 111.00 $ 116.00 $ 108.00 $ 113.00 $ 3.00 Hotel EBITDA: Retained Hotels $ 135,000 $ 142,500 $ 135,000 $ 150,000 $ (3,750) Exit Hotels $ (11,000) $ (8,500) $ (11,000) $ (6,000) $ (1,250) Hotel EBITDA Total/Average $ 124,000 $ 134,000 $ 124,000 $ 144,000 $ (5,000) Net Lease NOI $ 373,000 $ 379,000 $ 380,000 $ 386,000 $ (7,000) Adjusted EBITDAre $ 489,000 $ 498,000 $ 500,000 $ 520,000 $ (16,500) Normalized FFO $ 113,000 $ 128,000 $ 124,000 $ 144,000 $ (13,500) Normalized FFO Per Common Share $ 1.07 $ 1.22 $ 1.20 $ 1.35 $ (0.13) Total Capital Expenditures $ 115,000 $ 125,000 $ 120,000 $ 140,000 $ (10,000) Current full year 2026 guidance is based in part on the following assumptions: • Mid-point general and administrative expense of approximately $40,000. • Mid-point interest expense of $355,000. • Estimated displacement from hotel renovations of approximately $13,800. • Weighted average shares of approximately 105,200,000. (1) SVC does not reconcile the non-GAAP measures in its full year guidance or long term outlook because significant information, most notably loss on impairment of real estate assets, gain or loss on sale of real estate, loss on early extinguishment of debt and equity in net earnings of investees, is not available without unreasonable efforts, or at all. These items are not indicative of SVC’s ongoing operations, are uncertain and could materially impact SVC’s GAAP results for the guidance period. (2) Current full year 2026 guidance includes the results of hotels sold through their disposition dates. For the two Exit Hotels currently being marketed, SVC assumes these properties are held for the entire calendar year. • No hotel acquisitions. • 15 hotels sold in 2026 for $123,800. • Net lease acquisitions of approximately $25,000. • Net lease dispositions of approximately $25,000.

8RETURN TO TABLE OF CONTENTS Financial Information

9RETURN TO TABLE OF CONTENTS As of and for the Three Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Selected Income Statement Data: Total revenues $ 399,520 $ 420,974 $ 364,451 $ 397,453 $ 478,770 Net loss $ (87,940) $ (223,838) $ (151,178) $ (782) $ (46,945) FFO $ 40,190 $ 43,942 $ (47,327) $ 18,473 $ 30,432 Normalized FFO $ 43,839 $ 55,024 $ 7,445 $ 27,535 $ 33,910 CAD $ 32,110 $ 42,451 $ 295 $ (62,293) $ (13,024) Rolling four quarter CAD $ 12,563 $ (32,571) $ (57,103) $ (90,936) $ (82,955) Adjusted EBITDAre $ 133,472 $ 145,841 $ 107,452 $ 125,643 $ 145,018 Per Common Share Data (basic and diluted): Net loss $ (0.68) $ (1.75) $ (4.54) $ (0.02) $ (1.41) FFO $ 0.31 $ 0.34 $ (1.42) $ 0.56 $ 0.92 Normalized FFO $ 0.34 $ 0.43 $ 0.22 $ 0.83 $ 1.02 CAD $ 0.25 $ 0.33 $ 0.01 $ (1.87) $ (0.39) Rolling four quarter CAD $ 0.16 $ (0.57) $ (1.72) $ (2.73) $ (2.50) Dividend Data: Annualized dividends paid per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 $ 0.20 Annualized dividend yield (at end of period) 3.1 % 2.4 % 2.9 % 2.2 % 1.5 % Annualized Normalized FFO payout ratio 14.7 % 11.6 % 25.0 % 5.9 % 5.0 % Rolling four quarter CAD payout ratio (1) 125.0 % (35.1) % (11.8) % (7.3) % (8.0) % Selected Balance Sheet Data: Total gross assets $ 8,274,084 $ 8,414,037 $ 8,625,542 $ 9,001,105 $ 9,912,215 Total assets $ 5,720,456 $ 5,838,485 $ 6,081,625 $ 6,491,580 $ 6,980,324 Total liabilities $ 5,007,707 $ 5,032,030 $ 5,587,889 $ 5,845,456 $ 6,332,416 Total shareholders’ equity $ 712,749 $ 806,455 $ 493,736 $ 646,124 $ 647,908 (dollars in thousands, except per share data) Key Financial Data As of 9/30/2026 Capitalization: Total common shares (at end of period) 129,821,455 Closing price (at end of period) $ 6.44 Equity market capitalization (at end of period) $ 836,050 Debt (principal balance) 4,652,322 Total market capitalization $ 5,488,372 Liquidity: Cash and cash equivalents $ 40,118 Available borrowings under secured revolving credit facility (2) 650,000 Total liquidity $ 690,118 (1) Reflects the annualized dividends paid per common share during the period as a percentage of rolling four quarter CAD per the average common shares outstanding over the same period. (2) Availability under SVC's revolving credit facility is subject to meeting ongoing minimum performance and market values of the collateral properties, satisfying certain financial covenants and other credit facility conditions.

10RETURN TO TABLE OF CONTENTS Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Revenues: Hotel operating revenues $ 298,379 $ 377,576 $ 883,025 $ 1,116,944 Rental income (1) 101,141 101,194 301,920 300,441 Total revenues 399,520 478,770 1,184,945 1,417,385 Expenses: Hotel operating expenses (2) 255,780 328,358 763,078 963,111 Net lease operating expenses 6,389 5,236 19,875 16,303 Depreciation and amortization 72,152 74,453 225,078 238,583 General and administrative 9,965 11,057 29,854 30,831 Transaction related costs (3) 1,857 2,683 4,829 4,139 Loss on asset impairment (4) 53,691 27,067 270,883 81,788 Total expenses 399,834 448,854 1,313,597 1,334,755 (Loss) gain on sale of real estate, net (5) (1,103) 25,256 (131) 25,846 Interest income 375 4,841 2,483 6,912 Interest expense (including amortization of debt issuance costs, discounts and premiums of $18,964, $9,092, $56,635 and $27,672, respectively) (85,932) (107,776) (270,134) (311,972) Loss on early extinguishment of debt, net (6) (335) (529) (61,589) (529) Loss before income tax expense and equity in earnings (losses) of an investee (87,309) (48,292) (458,023) (197,113) Income tax expense (875) (253) (1,924) (1,553) Equity in earnings (losses) of an investee 244 1,600 (3,009) (2,873) Net loss $ (87,940) $ (46,945) $ (462,956) $ (201,539) Weighted average common shares outstanding (basic and diluted) 129,262 33,217 97,227 33,163 Net loss per common share (basic and diluted) $ (0.68) $ (1.41) $ (4.76) $ (6.08) (amounts in thousands, except per share data) Condensed Consolidated Statements of Income (Loss) See accompanying notes on page 35.

11RETURN TO TABLE OF CONTENTS Condensed Consolidated Balance Sheets September 30, December 31, 2026 2025 ASSETS Real estate properties: Land $ 1,722,642 $ 1,750,799 Buildings, improvements and equipment 5,809,983 6,198,233 Total real estate properties, gross 7,532,625 7,949,032 Accumulated depreciation (2,458,451) (2,442,966) Total real estate properties, net 5,074,174 5,506,066 Equity method investment 108,875 111,796 Acquired real estate leases and other intangibles, net 89,215 100,044 Assets of properties held for sale 65,032 94,366 Cash and cash equivalents 40,118 346,813 Restricted cash 22,374 25,275 Due from related persons 12,191 241 Other assets, net 308,477 306,979 Total assets $ 5,720,456 $ 6,491,580 LIABILITIES AND SHAREHOLDERS' EQUITY Secured debt, net $ 2,821,494 $ 2,100,745 Unsecured notes, net 1,703,944 3,233,683 Accounts payable and other liabilities 468,868 458,908 Due to related persons 9,741 46,791 Liabilities of properties held for sale 3,660 5,329 Total liabilities 5,007,707 5,845,456 Commitments and contingencies Total shareholders’ equity 712,749 646,124 Total liabilities and shareholders’ equity $ 5,720,456 $ 6,491,580 (dollars in thousands, except per share data) Sonesta Fort Lauderdale Beach Fort Lauderdale, FL

12RETURN TO TABLE OF CONTENTS (1) SVC is required to pay interest on drawn amounts at a rate of SOFR plus a premium, which was 250 basis points per annum as of September 30, 2026. SVC also pays an unused commitment fee of 20 to 30 basis points per annum based on amounts outstanding under its revolving credit facility. Subject to the payment of an extension fee and meeting certain other conditions, SVC may extend the maturity date of its revolving credit facility by two additional six-month periods. (2) SVC has provided equity pledges on certain of its property owning subsidiaries and provided first mortgage liens on 55 properties owned by the pledged subsidiaries to secure its obligations under the credit agreement governing its revolving credit facility. (3) No cash interest will accrue on these senior secured notes prior to maturity. The accreted value of these senior secured notes will increase at a rate of 7.50% per annum compounded semiannually on March 30 and September 30 of each year, such that the accreted value will equal the principal amount at maturity. These notes are secured by first-priority liens on the equity interests of subsidiaries owning 36 travel centers leased to TravelCenters of America Inc., or TA, pursuant to one master lease. (4) These notes are guaranteed by certain of SVC's subsidiaries. (5) These notes are collectively secured by 471 net lease properties and certain cash proceeds and are prepayable without penalty 24 months prior to the expected maturity dates. (6) These notes are secured by first-priority liens on the equity interests of subsidiaries owning 70 travel centers leased to TA pursuant to two master leases. Interest Principal Maturity Due at Years to Rate Balance Date Maturity Maturity Secured Floating Rate Debt: $650,000 revolving credit facility (1) (2) 6.500 % $ — 6/29/27 $ — 0.7 Secured Fixed Rate Debt: Senior secured notes due 2027 (3) (4) 0.000 % 580,155 9/30/27 580,155 1.0 Series 2023-1 net lease mortgage notes (5) 5.600 % 603,186 2/20/28 600,576 1.4 Series 2026-1 net lease mortgage notes (5) 5.960 % 743,981 3/20/31 734,982 4.5 Senior secured notes due 2031 (4) (6) 8.625 % 1,000,000 11/15/31 1,000,000 5.1 Subtotal / weighted average 5.615 % 2,927,322 2,915,713 3.4 Unsecured Fixed Rate Debt: Senior unsecured notes due 2028 3.950 % 400,000 1/15/28 400,000 1.3 Senior unsecured notes due 2029 4.950 % 425,000 10/1/29 425,000 3.0 Senior unsecured notes due 2030 4.375 % 400,000 2/15/30 400,000 3.4 Senior unsecured notes due 2032 (4) 8.875 % 500,000 6/15/32 500,000 5.7 Subtotal / weighted average 5.722 % 1,725,000 1,725,000 3.5 Total / weighted average 5.655 % $ 4,652,322 $ 4,640,713 3.4 Debt Summary As of September 30, 2026 (dollars in thousands)

13RETURN TO TABLE OF CONTENTS $400,000 $425,000 $400,000 $500,000$580,155 $1,000,000 $999 $3,995 $602,775 $2,038 $2,038 $735,322 Net Lease Mortgage Notes Senior Secured Fixed Rate Debt Unsecured Fixed Rate Debt Secured Floating Rate Debt 2026 2027 2028 2029 2030 2031 2032 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 Debt Maturity Schedule As of September 30, 2026 (3) (1) SVC's net lease mortgage notes due 2028 and 2031 are partially amortizing and require balloon payments at maturity. These notes are prepayable without penalty 24 months prior to the expected maturity dates. (2) SVC has a one-time option to extend the maturity date of its $580,155 of senior secured notes due 2027 by one year to September 30, 2028, subject to satisfaction of certain conditions and the payment of an extension fee. If SVC exercises this option, interest payments will be due semi- annually during the extension period at an initial interest rate of 7.50% per annum, which interest rate will increase periodically by 25 basis points. (3) As of September 30, 2026 and November 2, 2026, SVC had no amounts outstanding under its $650,000 revolving credit facility. (2) (dollars in thousands) Secured vs. Unsecured Debt Secured 62.9% Unsecured 37.1% (1)

14RETURN TO TABLE OF CONTENTS Leverage Ratios, Coverage Ratios and Debt Covenants Centennial, CO (1) Proforma for the redemptions of $450,000 of 5.50% senior guaranteed unsecured notes due 2027 redeemed in April 2026 and $100,000 of 4.95% senior unsecured notes due 2027 redeemed in May 2026. (2) Proforma for the redemption of $300,000 of 4.95% senior unsecured notes due 2027 redeemed in January 2026, and the issuance of $745,000 of net lease mortgage notes and the redemption of $700,000 of 8.375% senior guaranteed unsecured notes due 2029 in March 2026. (3) Proforma for the redemption of $450,000 of 4.75% senior unsecured notes due 2026 redeemed in October 2025. (4) Total gross assets and gross book value of real estate assets includes assets of properties held for sale. As of and for the Trailing Twelve Months Ended 9/30/2026 6/30/2026 3/31/2026 (1) 12/31/2025 (2) 9/30/2025 (3) Leverage Ratios: Net debt / total gross assets (4) 55.7 % 56.1 % 54.3 % 59.0 % 57.9 % Net debt / gross book value of real estate assets(4) and cash and cash equivalents 59.7 % 60.1 % 57.9 % 62.9 % 61.6 % Secured debt / total assets 50.9 % 51.1 % 48.7 % 47.4 % 34.9 % Variable rate debt / net debt — % 1.5 % 1.0 % 0.9 % 2.6 % Coverage Ratios: Rolling four-quarter Adjusted EBITDAre / rolling four-quarter interest expense 1.4x 1.3x 1.3x 1.3x 1.4x Net debt / rolling four-quarter Adjusted EBITDAre 9.0x 9.0x 8.6x 9.4x 10.0x As of and for the Trailing Twelve Months Ended 9/30/2026 6/30/2026 3/31/2026 (1) 12/31/2025 (2) 9/30/2025 (3) Senior Note Debt Covenants: Maintenance Covenant: Total unencumbered assets / unsecured debt - required minimum 150% 273.2 % 281.5 % 283.8 % 218.7 % 202.6 % Incurrence Covenants: Total debt / adjusted total assets - allowable maximum 60.0% 53.9 % 53.7 % 53.1 % 58.7 % 57.5 % Secured debt / adjusted total assets - allowable maximum 40.0% 33.9 % 34.1 % 33.6 % 33.2 % 23.9 % Consolidated income available for debt service / debt service - required minimum 1.50x 1.83x 1.74x 1.75x 1.59x 1.56x Total unencumbered assets in guarantor subsidiaries / senior guaranteed unsecured debt - required minimum 2.2x 8.79x 9.08x 9.17x 4.92x 3.84x (dollars in thousands)

15RETURN TO TABLE OF CONTENTS For the Three Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Hotel capital improvements $ 16,858 $ 16,253 $ 15,403 $ 92,971 $ 41,632 Lease related costs 602 1,839 1,194 2,193 538 Recurring capital expenditures 17,460 18,092 16,597 95,164 42,170 Redevelopment and other activities 10,984 10,242 3,758 9,953 3,241 FF&E Reserve fundings (1) 1,440 2,129 1,189 1,312 1,576 Total capital improvements & FF&E Reserve fundings $ 29,884 $ 30,463 $ 21,544 $ 106,429 $ 46,987 (dollars in thousands) Capital Expenditures Summary Royal Sonesta Kaua’i Resort Lihue, HI (1) Includes capital expenditures funded from SVC’s FF&E Reserve.

16RETURN TO TABLE OF CONTENTS ACQUISITIONS: Quarter Acquired Number of Properties Property Type Number of Brands Square Footage Purchase Price (1) Purchase Price per Square Foot Weighted Average Cash Cap Rate Weighted Average GAAP Cap Rate Weighted Average Lease Term (2) Average Rent Coverage Q1 2026 3 Net Lease 2 8,788 $ 7,398 $ 842 8.0 % 8.9 % 15.6 4.17x Q2 2026 1 Net Lease 1 3,200 1,776 555 7.6 % 8.4 % 15.0 2.04x Q3 2026 1 Net Lease 1 7,627 5,931 778 7.4 % 8.1 % 10.4 3.30x Q4 2026 (3) 4 Net Lease 1 41,020 8,314 203 7.3 % 7.6 % 14.4 2.40x Total 9 5 60,635 $ 23,419 $ 386 7.6 % 8.2 % 13.8 3.19x Property Acquisitions and Dispositions Since January 1, 2026 (dollars in thousands, except per room or suite data) (1) Represents gross purchase price and cash sales price and excludes closing related costs. (2) The average lease term is weighted based on annual GAAP rent. (3) Q4 2026 data represents acquisitions and dispositions through November 2, 2026. DISPOSITIONS: Quarter Disposed Number of Properties Property Type Brand Location Square Footage / Rooms or Suites Sales Price (1) Average Sales Price per Square Foot / Room or Suite Q1 2026 1 Net Lease Vacant TN 2,510 $ 610 $ 243 1 Net Lease Heartland Dental FL 2,202 675 307 1 Hotel Sonesta Simply Suites® MA 133 7,100 53,383 Q2 2026 17 Net Lease Vacant Various 111,345 12,190 109 Q3 2026 3 Hotel Sonesta ES Suites® MA, MI, OH 384 29,600 77,083 2 Hotel Sonesta Hotels & Resorts® GA 568 15,500 27,289 1 Hotel Royal Sonesta Hotels® IL 261 21,000 80,460 1 Net Lease Vacant IL 3,183 308 97 5 Net Lease Heartland Dental IL, IN, OH, WI 15,621 1,176 75 Q4 2026 (3) 3 Hotel Sonesta ES Suites® DE, NJ, WV 384 20,200 52,604 1 Hotel Sonesta Hotels & Resorts® NC 300 10,000 33,333 2 Hotel Royal Sonesta Hotels® MN, OR 581 9,000 15,491 2 Hotel Sonesta Simply Suites® GA, NJ 244 11,400 46,721 1 Net Lease Vacant MO 1,333 295 221 Total 41 136,194 / 2,855 $ 139,054 $112 / $43,363

17RETURN TO TABLE OF CONTENTS Portfolio Information

18RETURN TO TABLE OF CONTENTS Hotels 47.0% Travel Centers 34.6% Restaurants - Quick Service 3.1% Restaurants - Casual Dining 2.2% Health and Fitness 2.1% Movie Theaters 1.4% Grocery Stores 1.4% Other 8.2% Portfolio Composition No. of Properties Square Footage/ Rooms or Suites Average Property Size Investments % of Investments Tenants/Operators Brands Industries States Net Lease Properties 740 13,542,332 18,300 Sq Ft $ 5,071,105 53.0 % 188 141 21 42 Hotels 87 19,897 229 Rooms 4,489,644 47.0 % 4 9 1 27 Totals 827 $ 9,560,749 192 150 22 46 Portfolio Summary As of September 30, 2026 (dollars in thousands) (1) Based on investment. (2) SVC has additional investments in Puerto Rico & Canada. See page 20 for additional details. Geographic Diversification (1) (2)Industry Diversification (1) Low High

19RETURN TO TABLE OF CONTENTS Industry No. of Properties Rooms / Square Footage Investments Percent of Total Investment 1. Hotels 87 19,897 $ 4,489,644 47.0 % 2. Travel Centers 178 5,099,794 3,311,787 34.6 % 3. Restaurants - Quick Service 211 653,991 296,723 3.1 % 4. Restaurants - Casual Dining 59 506,762 213,490 2.2 % 5. Health and Fitness 15 969,041 204,048 2.1 % 6. Movie Theaters 14 747,904 134,490 1.4 % 7. Grocery Stores 19 1,020,819 129,152 1.4 % 8. Automotive Equipment and Services 65 466,692 109,145 1.1 % 9. Home Goods and Leisure 14 542,666 98,242 1.0 % 10. Medical, Dental Office 48 261,711 75,606 0.8 % 11. Automotive Dealers 8 177,433 62,656 0.7 % 12. General Merchandise Stores 4 381,193 56,570 0.6 % 13. Entertainment 3 164,113 51,473 0.5 % 14. Educational Services 5 137,412 39,921 0.4 % 15. Car Washes 7 55,951 36,125 0.4 % 16. Building Materials 30 488,885 35,554 0.4 % 17. Sporting Goods 4 184,255 29,386 0.3 % 18. Miscellaneous Manufacturing 5 538,932 24,355 0.3 % 19. Dollar Stores 7 72,052 10,253 0.1 % 20. Drug Stores and Pharmacies 3 32,036 9,699 0.1 % 21. Legal Services 3 17,029 7,609 0.1 % 22. Other 20 455,840 78,116 0.8 % 23. Vacant 18 567,821 56,705 0.6 % Total 827 19,897 / 13,542,332 $ 9,560,749 100.0% Consolidated Portfolio Diversification by Industry As of September 30, 2026 (dollars in thousands) Wilmington, IL Grand Junction, CO

20RETURN TO TABLE OF CONTENTS Investments State Total Property Count Net Lease Count Hotel Count Total % of Total Net Lease Net Lease % of Total Hotel Hotel % of Total California 41 22 19 $ 1,164,282 12.2 % $ 273,065 5.4 % $ 891,217 19.9 % Florida 51 44 7 724,634 7.6 % 255,859 5.0 % 468,775 10.4 % Texas 61 56 5 718,520 7.5 % 516,496 10.2 % 202,024 4.5 % Illinois 53 50 3 555,005 5.8 % 281,229 5.5 % 273,776 6.1 % Georgia 74 69 5 466,887 4.9 % 266,217 5.2 % 200,670 4.5 % Ohio 37 35 2 423,065 4.4 % 319,877 6.3 % 103,188 2.3 % Louisiana 14 13 1 351,927 3.7 % 137,689 2.7 % 214,238 4.8 % Arizona 28 23 5 350,042 3.7 % 246,708 4.9 % 103,334 2.3 % Pennsylvania 28 27 1 283,467 3.0 % 200,037 3.9 % 83,430 1.9 % Colorado 11 9 2 247,478 2.6 % 120,133 2.4 % 127,345 2.8 % Top 10 398 348 50 5,285,307 55.4 % 2,617,310 51.5 % 2,667,997 59.5 % Other (1) 429 392 37 4,275,442 44.6 % 2,453,795 48.5 % 1,821,647 40.5 % Total 827 740 87 $ 9,560,749 100.0 % $ 5,071,105 100.0 % $ 4,489,644 100.0 % (1) Consists of properties in 36 different states, the District of Columbia, San Juan, Puerto Rico and Ontario, Canada with an average investment of $9,966 per property. Consolidated Portfolio by Geographic Diversification As of September 30, 2026 (dollars in thousands) Hammond, IN

21RETURN TO TABLE OF CONTENTS For the Three Months Ended For the Nine Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Calculation of NOI: Rental income (GAAP) (1) $ 101,141 $ 100,903 $ 99,876 $ 100,994 $ 101,194 $ 301,920 $ 300,441 Net lease operating expenses (GAAP) 6,389 6,046 7,440 5,294 5,236 19,875 16,303 NOI $ 94,752 $ 94,857 $ 92,436 $ 95,700 $ 95,958 $ 282,045 $ 284,138 Reconciliation of Cash Basis NOI: NOI $ 94,752 $ 94,857 $ 92,436 $ 95,700 $ 95,958 $ 282,045 $ 284,138 Less: Non-cash revenues 938 1,808 1,360 2,334 2,143 4,106 8,479 Cash Basis NOI $ 93,814 $ 93,049 $ 91,076 $ 93,366 $ 93,815 $ 277,939 $ 275,659 Calculation and Reconciliation of NOI and Cash Basis NOI for Net Lease Properties (amounts in thousands) Saint Augustine, FL See accompanying notes on page 35.

22RETURN TO TABLE OF CONTENTS Brand No. of Properties Square Feet Investment Percent of Total Investment Annualized Minimum Rent Percent of Total Annualized Minimum Rent Rent Coverage 1. TravelCenters of America / Petro Stopping Centers 175 5,051,725 $ 3,270,106 64.5 % $ 269,547 68.2 % 1.44x (1) 2. The Great Escape 14 542,666 98,242 1.9 % 7,711 1.9 % 4.00x 3. Life Time Fitness 3 420,335 92,617 1.8 % 6,347 1.6 % 3.28x 4. Buehler's Fresh Foods 5 502,727 76,469 1.5 % 6,223 1.6 % 2.67x 5. Express Oil Change 23 83,825 49,724 1.0 % 4,088 1.0 % 5.24x 6. Pizza Hut 43 174,616 51,106 1.0 % 4,068 1.0 % 2.18x 7. Norms 10 63,490 53,673 1.1 % 3,498 0.9 % 3.55x 8. America's Auto Auction 6 72,338 38,314 0.8 % 3,457 0.9 % 10.11x 9. Flying J Travel Plaza 3 48,069 41,681 0.8 % 3,345 0.8 % 3.11x 10. AMC Theatres 5 251,166 57,457 1.1 % 3,143 0.8 % 2.45x Subtotal, Top 10 287 7,210,957 3,829,389 75.5 % 311,427 78.7 % 1.77x 11. Other (2) 435 5,763,554 1,185,011 23.4 % 84,065 21.3 % 3.65x 12. Vacant 18 567,821 56,705 1.1 % — — % —x Total 740 13,542,332 $ 5,071,105 100.0 % $ 395,492 100.0 % 2.17x (1) See Note 1 on page 24 regarding TA rent coverage. (2) Consists of 131 distinct brands with an average investment of $2,724 per property and an average annual minimum rent of $193 per property. Net Lease Portfolio by Brand (Top 10) As of September 30, 2026 (dollars in thousands) Seymour, IN

23RETURN TO TABLE OF CONTENTS Industry No. of Properties Square Feet Investment Percent of Total Investment Annualized Minimum Rent Percent of Total Annualized Minimum Rent Rent Coverage 1. Travel Centers 178 5,099,794 $ 3,311,787 65.3 % $ 272,892 69.1 % 1.46x (1) 2. Restaurants - Quick Service 211 653,991 296,723 5.9 % 21,000 5.3 % 2.97 x 3. Restaurants - Casual Dining 59 506,762 213,490 4.2 % 13,728 3.5 % 2.90 x 4. Health and Fitness 15 969,041 204,048 4.0 % 13,362 3.4 % 2.43 x 5. Grocery Stores 19 1,020,819 129,152 2.5 % 9,895 2.5 % 3.16 x 6. Automotive Equipment and Services 65 466,692 109,145 2.2 % 8,426 2.1 % 4.84 x 7. Home Goods and Leisure 14 542,666 98,242 1.9 % 7,711 1.9 % 4.00 x 8. Movie Theaters 14 747,904 134,490 2.7 % 7,061 1.8 % 2.41 x 9. Medical, Dental Office 48 261,711 75,606 1.5 % 6,110 1.5 % 3.76 x 10. Automotive Dealers 8 177,433 62,656 1.2 % 5,345 1.4 % 8.05 x Subtotal, Top 10 631 10,446,813 4,635,339 91.4 % 365,530 92.5 % 1.97 x 11. Other (2) 91 2,527,698 379,061 7.5 % 29,962 7.5 % 4.66 x 12. Vacant 18 567,821 56,705 1.1 % — — % — x Total 740 13,542,332 $ 5,071,105 100.0% $ 395,492 100.0% 2.17x (1) See Note 1 on page 24 regarding TA rent coverage. (2) Primarily consists of miscellaneous businesses with an average investment of $4,166 per property. Net Lease Portfolio by Industry (Top 10) As of September 30, 2026 (dollars in thousands) Chicago, IL

24RETURN TO TABLE OF CONTENTS (1) TA is SVC's largest tenant. As of September 30, 2026, SVC leased 175 travel centers (131 under the TravelCenters of America brand and 44 under the Petro Stopping Centers brand) to a subsidiary of TA under five master leases that expire in 2033. TA has five renewal options for 10 years each for all of the travel centers under each lease. BP Corporation North America Inc. guarantees payment under each of the five master leases. The aggregate guaranty as of September 30, 2026 was $2,782,917. Annualized minimum rent amounts and the rent used to calculate rent coverage is based on the stated rent amounts in the lease and excludes the impact of rents prepaid by TA. Rent coverage was 1.35x, 1.43x, 1.53x, 1.61x and 1.32x for the TA leases no. 1, no. 2, no. 3, no. 4 and no. 5, respectively. Rent coverage is as of September 30, 2026. (2) Consists of 178 tenants with an average investment of $2,740 per property and an average annual minimum rent of $192 per property. Tenant Brand Affiliation No. of Properties Square Feet Investment Percent of Total Investment Annualized Minimum Rent Percent of Total Annualized Minimum Rent Weighted Average Lease Term Rent Coverage 1. TravelCenters of America Inc.(1) TravelCenters of America / Petro Stopping Centers 175 5,051,725 $ 3,270,106 64.5 % $ 269,547 68.2 % 6.6 1.44x 2. Universal Pool Co., Inc. The Great Escape 14 542,666 98,242 1.9 % 7,711 1.9 % 0.9 4.00x 3. Healthy Way of Life II, LLC Life Time Fitness 3 420,335 92,617 1.8 % 6,347 1.6 % 8.8 3.28x 4. Styx Acquisition, LLC Buehler's Fresh Foods 5 502,727 76,469 1.5 % 6,223 1.6 % 9.1 2.67x 5. Express Oil Change, L.L.C. Express Oil Change 23 83,825 49,724 1.0 % 4,088 1.0 % 8.5 5.24x 6. Norms Restaurants, LLC Norms 10 63,490 53,673 1.1 % 3,498 0.9 % 18.8 3.55x 7. Automotive Remarketing Group, Inc. America's Auto Auction 6 72,338 38,314 0.8 % 3,457 0.9 % 8.6 10.11x 8. Pilot Travel Centers LLC Flying J Travel Plaza 3 48,069 41,681 0.8 % 3,345 0.8 % 2.2 3.11x 9. Fleet Farm Group LLC Fleet Farm 1 218,248 37,802 0.7 % 2,952 0.7 % 9.8 2.38x 10. Heartland Dental, LLC Heartland Dental 35 117,603 31,045 0.6 % 2,686 0.7 % 6.2 5.33x Subtotal, Top 10 275 7,121,026 3,789,673 74.7 % 309,854 78.3 % 6.7 1.80x 11. Other (2) Various 447 5,853,485 1,224,727 24.2 % 85,638 21.7 % 7.8 3.52x 12. Vacant Vacant 18 567,821 56,705 1.1 % — — % — —x Total 740 13,542,332 $ 5,071,105 100.0 % $ 395,492 100.0 % 7.0 2.17x Net Lease Portfolio by Tenant (Top 10) As of September 30, 2026 (dollars in thousands)

25RETURN TO TABLE OF CONTENTS Year (1) Number of Properties Square Feet Annualized Minimum Rent Expiring Percent of Total Annualized Minimum Rent Expiring Cumulative Percent of Total Annualized Minimum Rent Expiring 2026 14 76,170 $ 1,575 0.4 % 0.4 % 2027 31 919,786 10,968 2.8 % 3.2 % 2028 20 586,419 9,529 2.4 % 5.6 % 2029 78 622,283 10,708 2.7 % 8.3 % 2030 24 269,526 5,874 1.5 % 9.8 % 2031 69 719,312 9,636 2.4 % 12.2 % 2032 26 299,670 4,703 1.2 % 13.4 % 2033 203 5,338,721 274,609 69.4 % 82.8 % 2034 23 293,210 5,924 1.5 % 84.3 % 2035 48 1,188,024 22,211 5.6 % 89.9 % 2036 49 509,395 9,979 2.5 % 92.4 % 2037 15 494,359 4,039 1.0 % 93.4 % 2038 7 47,654 1,284 0.3 % 93.7 % 2039 14 241,746 4,891 1.2 % 94.9 % 2040 33 223,031 6,043 1.5 % 96.4 % 2041 11 222,691 3,222 0.8 % 97.2 % 2042 15 288,309 2,385 0.6 % 97.8 % 2043 7 127,440 2,233 0.6 % 98.4 % 2044 2 93,010 278 0.1 % 98.5 % 2045 22 188,018 4,912 1.2 % 99.7 % 2046 1 6,500 216 0.1 % 99.8 % Thereafter 3 219,237 273 0.2 % 100.0 % Total 715 12,974,511 $ 395,492 100.0 % Weighted Average Lease Term 7.1 years 7.0 years (1) The year of lease expiration is pursuant to contract terms. Net Lease Portfolio - Expiration Schedule As of September 30, 2026 (dollars in thousands) Pineville, LA Deerfield Beach, FL

26RETURN TO TABLE OF CONTENTS As of and For the Three Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Properties (end of period) 740 745 761 760 752 Vacant properties beginning of period 25 26 26 20 20 Vacant properties sold (1) (3) (1) (1) (2) Vacant properties leased (1) (2) (1) — (2) Land held for potential future uses (7) — — — — Lease terminations 2 4 2 7 4 Vacant properties end of the period 18 25 26 26 20 Percentage of properties leased 97.6 % 96.6 % 96.6 % 96.6 % 97.3 % Net Lease Portfolio - Occupancy Summary As of September 30, 2026 Wilmington, IL

27RETURN TO TABLE OF CONTENTS Brand Service Level Chain Scale Number of Hotels Percent of Total Number of Hotels Number of Rooms or Suites Percent of Total Number of Rooms or Suites Investment Percent of Total Hotel Investment Investment Per Room or Suite Royal Sonesta Hotels® Full Service Upper Upscale 16 18.4 % 5,402 27.1 % $ 1,822,849 40.6 % $ 337,440 Sonesta Hotels & Resorts® Full Service Upscale 20 23.0 % 6,640 33.4 % 1,454,176 32.4 % 219,002 Hyatt Place® Select Service Upscale 17 19.5 % 2,107 10.6 % 328,577 7.3 % 155,945 Sonesta ES Suites® Extended Stay Upper Midscale 10 11.5 % 1,342 6.7 % 250,080 5.6 % 186,349 Radisson® Hotels & Resorts Full Service Upscale 5 5.7 % 1,149 5.8 % 173,624 3.9 % 151,109 Sonesta Simply Suites® Extended Stay Midscale 9 10.3 % 1,388 7.0 % 167,550 3.7 % 120,713 Crowne Plaza® Full Service Upscale 1 1.1 % 495 2.5 % 128,015 2.9 % 258,616 Sonesta Select® Select Service Upscale 7 8.2 % 1,028 5.2 % 118,504 2.6 % 115,276 Country Inn & Suites® by Radisson Full Service Upper Midscale 2 2.3 % 346 1.7 % 46,269 1.0 % 133,725 Total/Average Hotels 87 100.0 % 19,897 100.0 % $ 4,489,644 100.0 % $ 225,644 Hotel Portfolio by Brand As of September 30, 2026 (dollars in thousands, except per room or suite data)

28RETURN TO TABLE OF CONTENTS Hotel Operating Statistics by Service Level - Retained & Exit Hotels* (Third Quarter) Occupancy ADR RevPAR Adjusted Hotel EBITDA Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, Three Months Ended September 30, Brand No. of Hotels No. of Rooms or Suites 2026 2025 Change 2026 2025 Change 2026 2025 Change 2026 2025 Change Retained Hotels Full Service Royal Sonesta Hotels® 14 4,821 70.7 % 68.4 % 2.3 pts $ 242.47 $ 231.59 4.7 % $ 171.32 $ 158.30 8.2 % $ 14,304 $ 12,844 11.4 % Sonesta Hotels & Resorts® 18 6,040 69.3 % 67.7 % 1.6 pts 169.72 163.30 3.9 % 117.67 110.52 6.5 % 10,386 8,005 29.7 % Radisson® Hotels & Resorts 5 1,149 68.3 % 61.6 % 6.7 pts 152.98 153.93 (0.6) % 104.42 94.78 10.2 % 1,471 1,457 1.0 % Country Inn & Suites® by Radisson 2 346 82.8 % 80.3 % 2.5 pts 163.79 158.34 3.4 % 135.58 127.10 6.7 % 1,057 1,119 (5.5) % Full Service Total/Average 39 12,356 70.1 % 67.7 % 2.4 pts 196.60 189.22 3.9 % 137.86 128.15 7.6 % 27,218 23,425 16.2 % Extended Stay and Select Service Sonesta ES Suites® 7 958 87.2 % 81.0 % 6.2 pts 153.62 151.09 1.7 % 133.95 122.45 9.4 % 4,019 3,449 16.5 % Sonesta Select® 7 1,028 77.3 % 68.9 % 8.4 pts 145.96 142.76 2.2 % 112.84 98.41 14.7 % 3,327 2,276 46.2 % Sonesta Simply Suites® 7 1,144 73.6 % 73.1 % 0.5 pts 132.26 125.04 5.8 % 97.36 91.35 6.6 % 3,564 3,295 8.2 % Hyatt Place® 17 2,107 77.3 % 71.2 % 6.1 pts 122.61 119.27 2.8 % 94.72 84.95 11.5 % 2,984 2,929 1.9 % Focused Service Total/Average 38 5,237 78.3 % 73.0 % 5.3 pts 135.43 131.35 3.1 % 106.03 95.85 10.6 % 13,894 11,949 16.3 % Retained Hotels Total/Average 77 17,593 72.6 % 69.3 % 3.3 pts $ 176.95 $ 171.08 3.4 % $ 128.38 $ 118.53 8.3 % $ 41,112 $ 35,374 16.2 % Exit Hotels Full Service Royal Sonesta Hotels® 2 581 62.9 % 55.9 % 7.0 pts $ 141.26 $ 144.08 (2.0) % $ 88.90 $ 80.50 10.4 % $ (180) $ (189) 4.8 % Sonesta Hotels & Resorts® 2 600 50.2 % 52.1 % (1.9) pts 108.61 107.32 1.2 % 54.49 55.87 (2.5) % (956) (546) (75.1) % Crowne Plaza® 1 495 68.3 % 65.6 % 2.7 pts 139.29 150.00 (7.1) % 95.09 98.36 (3.3) % 775 1,819 (57.4) % Full Service Total/Average 5 1,676 59.9 % 57.4 % 2.5 pts 130.82 134.14 (2.5) % 78.41 76.96 1.9 % (361) 1,084 (133.3) % Extended Stay and Select Service Sonesta ES Suites® 3 384 82.5 % 79.4 % 3.1 pts 117.45 120.55 (2.6) % 96.89 95.66 1.3 % 619 723 (14.4) % Sonesta Simply Suites® 2 244 82.5 % 78.1 % 4.4 pts 80.82 82.58 (2.1) % 66.71 64.54 3.4 % 150 160 (6.3) % Focused Service Total/Average 5 628 82.5 % 78.9 % 3.6 pts 103.21 105.94 (2.6) % 85.17 83.57 1.9 % 769 883 (12.9) % Exit Hotels Total/Average 10 2,304 66.1 % 63.2 % 2.9 pts $ 121.42 $ 124.55 (2.5) % $ 80.25 $ 78.76 1.9 % $ 408 $ 1,967 (79.3) % Retained & Exit Total/Average 87 19,897 71.8 % 68.6 % 3.2 pts $ 171.03 $ 166.11 3.0 % $ 122.81 $ 113.93 7.8 % $ 41,520 $ 37,341 11.2 % (dollars in thousands, except ADR and RevPAR) * Results of all hotels owned as of September 30, 2026, excluding the results of hotels sold by SVC during the periods presented.

29RETURN TO TABLE OF CONTENTS Hotel Operating Statistics by Service Level - Retained & Exit Hotels* (Year to Date) Occupancy ADR RevPAR Adjusted Hotel EBITDA Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30, Brand No. of Hotels No. of Rooms or Suites 2026 2025 Change 2026 2025 Change 2026 2025 Change 2026 2025 Change Retained Hotels Full Service Royal Sonesta Hotels® 14 4,821 67.3 % 64.7 % 2.6 pts $ 251.85 $ 244.02 3.2 % $ 169.59 $ 157.84 7.4 % $ 47,960 $ 45,989 4.3 % Sonesta Hotels & Resorts® 18 6,040 66.8 % 63.5 % 3.3 pts 177.15 173.82 1.9 % 118.39 110.33 7.3 % 32,041 30,504 5.0 % Radisson® Hotels & Resorts 5 1,149 68.3 % 62.0 % 6.3 pts 157.72 153.67 2.6 % 107.77 95.22 13.2 % 5,817 2,295 153.5 % Country Inn & Suites® by Radisson 2 346 73.5 % 68.7 % 4.8 pts 149.00 146.38 1.8 % 109.52 100.61 8.9 % 1,401 777 80.3 % Full Service Total/Average 39 12,356 67.4 % 64.0 % 3.4 pts 203.58 198.87 2.4 % 137.12 127.18 7.8 % 87,219 79,565 9.6 % Extended Stay and Select Service Sonesta ES Suites® 7 958 81.0 % 76.6 % 4.4 pts 154.43 151.22 2.1 % 125.14 115.77 8.1 % 10,062 9,183 9.6 % Sonesta Select® 7 1,028 71.6 % 67.5 % 4.1 pts 136.91 136.30 0.4 % 98.08 91.94 6.7 % 6,827 5,930 15.1 % Sonesta Simply Suites® 7 1,144 71.1 % 71.3 % (0.2) pts 126.61 123.54 2.5 % 90.07 88.09 2.2 % 8,531 9,275 (8.0) % Hyatt Place® 17 2,107 73.8 % 69.4 % 4.4 pts 125.02 122.90 1.7 % 92.25 85.29 8.2 % 8,765 8,664 1.2 % Focused Service Total/Average 38 5,237 74.1 % 70.7 % 3.4 pts 133.49 131.16 1.8 % 98.93 92.78 6.6 % 34,185 33,052 3.4 % Retained Hotels Total/Average 77 17,593 69.4 % 66.0 % 3.4 pts $ 181.28 $ 177.25 2.3 % $ 125.75 $ 116.94 7.5 % $ 121,404 $ 112,617 7.8 % Exit Hotels Full Service Royal Sonesta Hotels® 2 581 48.8 % 42.9 % 5.9 pts $ 136.62 $ 137.98 (1.0) % $ 66.63 $ 59.23 12.5 % $ (3,140) $ (2,865) (9.6) % Sonesta Hotels & Resorts® 2 600 49.4 % 53.2 % (3.8) pts 107.60 106.72 0.8 % 53.15 56.81 (6.4) % (3,965) (1,110) n/m Crowne Plaza® 1 495 71.4 % 68.9 % 2.5 pts 140.38 144.53 (2.9) % 100.29 99.55 0.7 % 3,581 4,838 (26.0) % Full Service Total/Average 5 1,676 55.7 % 54.3 % 1.4 pts 128.83 129.46 (0.5) % 71.75 70.27 2.1 % (3,524) 863 n/m Extended Stay and Select Service Sonesta ES Suites® 3 384 75.1 % 75.6 % (0.5) pts 116.79 118.92 (1.8) % 87.74 89.86 (2.4) % 877 1,524 (42.5) % Sonesta Simply Suites® 2 244 74.3 % 77.4 % (3.1) pts 81.29 80.82 0.6 % 60.37 62.58 (3.5) % (170) 204 (183.3) % Focused Service Total/Average 5 628 74.8 % 76.3 % (1.5) pts 103.09 103.90 (0.8) % 77.10 79.26 (2.7) % 707 1,728 (59.1) % Exit Hotels Total/Average 10 2,304 60.9 % 60.3 % 0.6 pts $ 120.21 $ 120.64 (0.4) % $ 73.21 $ 72.72 0.7 % $ (2,817) $ 2,591 n/m Retained & Exit Total/Average 87 19,897 68.4 % 65.3 % 3.1 pts $ 174.99 $ 171.20 2.2 % $ 119.67 $ 111.82 7.0 % $ 118,587 $ 115,208 2.9 % (dollars in thousands, except ADR and RevPAR) * Results of all hotels owned as of September 30, 2026, excluding the results of hotels sold by SVC during the periods presented.

30RETURN TO TABLE OF CONTENTS Appendix

31RETURN TO TABLE OF CONTENTS Company Profile, Research Coverage and Governance Information The Company: SVC is a REIT that owns service-focused retail net lease properties and hotels throughout the United States, including Puerto Rico, and Canada. Management: SVC is managed by The RMR Group (Nasdaq: RMR). RMR is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. As of September 30, 2026, RMR had approximately $37 billion in assets under management and 40 years of institutional experience in buying, selling, financing and operating CRE. SVC believes that being managed by RMR is a competitive advantage for SVC because of RMR’s depth of management and experience in the real estate industry. SVC also believes RMR provides management services to it at a lower cost than it would have to pay for similar quality services if it were self managed. Equity Research Coverage B. Riley Securities, Inc. Ladenburg Thalmann & Co. Lucid Capital Markets John Massocca Floris van Dijkum Craig Kucera (646) 885-5424 (212) 409-2075 (917) 890-4412 jmassocca@brileysecurities.com FvanDijkum@ladenburg.com ckucera@lucidcm.com Oppenheimer & Co. Inc. Tyler Batory (212) 667-7230 tyler.batory@opco.com Rating Agencies Moody’s Investors Service S&P Global Ilia Zaznov Diandra Prutton (212) 335-7072 (917) 231-4054 Ilia.zaznov@moodys.com diandra.prutton@spglobal.com Board of Trustees Christopher J. Bilotto Robert E. Cramer Rajan C. Penkar Managing Trustee Independent Trustee Independent Trustee Laurie B. Burns Donna D. Fraiche Adam D. Portnoy Independent Trustee Lead Independent Trustee Chair of the Board & Managing Trustee Jeanmarie Cooney William A. Lamkin Independent Trustee Independent Trustee Officers Christopher J. Bilotto Brian E. Donley Jesse W. Abair President and Chief Executive Officer Chief Financial Officer and Treasurer Vice President SVC is followed by the analysts and its publicly held debt is rated by the rating agencies listed on this page. Please note that any opinions, estimates or forecasts regarding SVC's performance made by these analysts or agencies do not represent opinions, forecasts or predictions of SVC or its management. SVC does not by its reference above imply its endorsement of or concurrence with any information, conclusions or recommendations provided by any of these analysts or agencies.

32RETURN TO TABLE OF CONTENTS For the Three Months Ended For the Nine Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Net loss $ (87,940) $ (223,838) $ (151,178) $ (782) $ (46,945) $ (462,956) $ (201,539) Add (Less): Depreciation and amortization 72,152 77,083 75,843 76,380 74,453 225,078 238,583 Loss (gain) on sale of real estate, net (5) 1,103 383 (1,355) (58,372) (25,256) 131 (25,846) Loss on asset impairment (4) 53,691 189,097 28,095 101 27,067 270,883 81,788 Adjustments to reflect SVC's share of FFO attributable to an investee 1,184 1,217 1,268 1,146 1,113 3,669 3,495 FFO 40,190 43,942 (47,327) 18,473 30,432 36,805 96,481 Add (Less): Loss on early extinguishment of debt, net (6) 335 9,383 51,871 2,368 529 61,589 529 Transaction related costs (3) 1,857 463 2,509 10,559 2,683 4,829 4,139 Adjustments to reflect SVC's share of Normalized FFO attributable to an investee 1,457 1,236 392 2,370 266 3,085 1,200 Deferred tax liability — — — (6,235) — — — Normalized FFO 43,839 55,024 7,445 27,535 33,910 106,308 102,349 Add (Less): Non-cash revenues (9,026) (9,937) (9,225) (9,847) (10,142) (28,188) (32,971) Non-cash interest expense 18,964 18,822 18,849 18,665 9,092 56,635 27,672 Non-cash expenses (323) (166) (1,029) (829) (246) (1,518) (1,527) SVC’s share of Normalized FFO attributable to an investee (2,885) (2,201) 1,341 (2,164) (2,979) (3,745) (1,822) Principal amortization (999) (999) (489) (489) (489) (2,487) (1,468) Recurring capital expenditures (17,460) (18,092) (16,597) (95,164) (42,170) (52,149) (120,876) CAD $ 32,110 $ 42,451 $ 295 $ (62,293) $ (13,024) $ 74,856 $ (28,643) Weighted average common shares outstanding (basic and diluted) 129,262 128,085 33,279 33,270 33,217 97,227 33,163 Basic and diluted per common share amounts: Net loss $ (0.68) $ (1.75) $ (4.54) $ (0.02) $ (1.41) $ (4.76) $ (6.08) FFO $ 0.31 $ 0.34 $ (1.42) $ 0.56 $ 0.92 $ 0.38 $ 2.91 Normalized FFO $ 0.34 $ 0.43 $ 0.22 $ 0.83 $ 1.02 $ 1.09 $ 3.09 CAD $ 0.25 $ 0.33 $ 0.01 $ (1.87) $ (0.39) $ 0.77 $ (0.86) Calculation of FFO, Normalized FFO and CAD (amounts in thousands, except per share data) See accompanying notes on page 35.

33RETURN TO TABLE OF CONTENTS For the Three Months Ended For the Nine Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Net loss $ (87,940) $ (223,838) $ (151,178) $ (782) $ (46,945) $ (462,956) $ (201,539) Add (Less): Interest expense 85,932 87,655 96,547 101,642 107,776 270,134 311,972 Income tax expense (benefit) 875 (132) 1,181 (12,270) 253 1,924 1,553 Depreciation and amortization 72,152 77,083 75,843 76,380 74,453 225,078 238,583 EBITDA 71,019 (59,232) 22,393 164,970 135,537 34,180 350,569 Add (Less): Loss on asset impairment (4) 53,691 189,097 28,095 101 27,067 270,883 81,788 Loss (gain) on sale of real estate, net (5) 1,103 383 (1,355) (58,372) (25,256) 131 (25,846) Adjustments to reflect SVC's share of EBITDAre attributable to an investee 2,816 3,160 3,059 2,959 2,921 9,035 9,212 EBITDAre 128,629 133,408 52,192 109,658 140,269 314,229 415,723 Add (Less): Loss on early extinguishment of debt, net (6) 335 9,383 51,871 2,368 529 61,589 529 Adjustments to reflect SVC's share of Adjusted EBITDAre attributable to an investee 1,457 1,236 392 2,370 266 3,085 1,200 Transaction related costs (3) 1,857 463 2,509 10,559 2,683 4,829 4,139 General and administrative expense paid in common shares 1,194 1,351 488 688 1,271 3,033 3,024 Adjusted EBITDAre $ 133,472 $ 145,841 $ 107,452 $ 125,643 $ 145,018 $ 386,765 $ 424,615 Calculation of EBITDA, EBITDAre and Adjusted EBITDAre (dollars in thousands) See accompanying notes on page 35.

34RETURN TO TABLE OF CONTENTS (dollars in thousands) For the Three Months Ended For the Nine Months Ended 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Number of hotels 87 93 93 94 160 87 160 Room revenues $ 232,419 $ 243,574 $ 197,565 $ 224,880 $ 307,089 $ 673,558 $ 897,412 Food and beverage revenues 44,048 53,980 48,282 50,877 46,780 146,310 152,253 Other revenues 21,912 22,517 18,728 20,702 23,707 63,157 67,279 Hotel operating revenues 298,379 320,071 264,575 296,459 377,576 883,025 1,116,944 Room expenses 74,648 76,054 67,112 83,366 105,891 217,814 303,877 Food and beverage expenses 40,178 44,338 40,305 41,870 41,552 124,821 126,318 Other direct and indirect expenses 108,980 109,047 104,777 119,528 138,108 322,804 404,148 Management fees 10,520 11,051 9,129 10,397 14,204 30,700 41,802 Real estate taxes, insurance and other 24,018 26,128 26,251 22,343 33,165 76,397 99,006 FF&E Reserves 1,789 1,822 1,556 1,194 1,675 5,167 5,531 Hotel operating expenses 260,133 268,440 249,130 278,698 334,595 777,703 980,682 Hotel EBITDA 38,246 51,631 15,445 17,761 42,981 105,322 136,262 Transaction related costs (3) 1,664 2,425 2,483 10,133 2,461 6,572 5,224 Adjusted Hotel EBITDA $ 39,910 $ 54,056 $ 17,928 $ 27,894 $ 45,442 $ 111,894 $ 141,486 Adjusted Hotel EBITDA Margin 13.4 % 16.9 % 6.8 % 9.4 % 12.0 % 12.7 % 12.7 % Hotel operating expenses (GAAP) $ 255,780 $ 264,654 $ 242,644 $ 263,431 $ 328,358 $ 763,078 $ 963,111 Add (Less): Transaction related costs (3) 1,664 2,425 2,483 10,133 2,461 6,572 5,224 Adjustments for guaranty fundings and (replenishments), net (2) 279 (1,082) 1,826 3,319 1,480 1,023 4,953 FF&E Reserves from managed hotel operations 1,789 1,822 1,556 1,194 1,675 5,167 5,531 Other (7) 621 621 621 621 621 1,863 1,863 Hotel operating expenses $ 260,133 $ 268,440 $ 249,130 $ 278,698 $ 334,595 $ 777,703 $ 980,682 Calculation and Reconciliation of Hotel EBITDA and Adjusted Hotel EBITDA - All Hotels* * Results of all hotels as owned during the periods presented, including the results of hotels sold by SVC for the periods owned by SVC. See accompanying notes on page 35.

35RETURN TO TABLE OF CONTENTS Notes to Condensed Consolidated Statements of Income (Loss) and Calculations of NOI, Cash Basis NOI, FFO, Normalized FFO, CAD, EBITDA, EBITDAre, Adjusted EBITDAre, Hotel EBITDA and Adjusted Hotel EBITDA (dollars in thousands) (1) SVC increased rental income by $1,009 and $2,257 for the three months ended September 30, 2026 and 2025, respectively, and increased rental income by $4,318 and $8,818 for the nine months ended September 30, 2026 and 2025, respectively, to record scheduled rent changes under certain of its leases on a straight line basis. (2) When managers of SVC's hotels are required to fund the shortfalls of owner's priority return under the terms of the management agreements or their guarantees, SVC reflects such fundings in its condensed consolidated statements of income (loss) as a reduction of hotel operating expenses. When these shortfalls are replenished by cash flows from the applicable hotel operations in excess of the owner's priority return due, SVC reflects such replenishment in its condensed consolidated statements of income (loss) as an increase to hotel operating expenses. The net change to hotel operating expenses was a decrease of $279 and $1,023 for the three and nine months ended September 30, 2026, respectively, and the net change to hotel operating expenses was a decrease of $1,480 and $4,953 for the three and nine months ended September 30, 2025, respectively. (3) Transaction related costs for the three and nine months ended September 30, 2026 of $1,857 and $4,829, respectively, primarily consist of costs related to the sale of certain hotels, partially offset by the recovery of deposits associated with certain previously terminated hotel sales. Transaction related costs for the three and nine months ended September 30, 2025, of $2,683 and $4,139, respectively, primarily consist of costs related to the sale and renovation of certain hotels, partially offset by the recovery of a working capital reserve during the three months ended March 31, 2025 related to SVC’s former agreement with Marriott International, Inc. previously deemed uncollectable and expensed in 2021. (4) SVC recorded a loss on asset impairment for the three and nine months ended September 30, 2026 of $53,691 and $270,883, respectively, to reduce the carrying value of six net lease properties and six hotels in the three month period, and 27 net lease properties and 12 hotels in the nine month period, to their estimated fair value less costs to sell. SVC recorded a loss on asset impairment for the three and nine months ended September 30, 2025 of $27,067 and $81,788, respectively, to reduce the carrying value of one net lease property and 25 hotels in the three month period, and three net lease properties and 28 hotels in the nine month period, to their estimated fair value less costs to sell. (5) SVC recorded a loss on sale of real estate for the three and nine months ended September 30, 2026 of $1,103 and $131, respectively, in connection with the sales of six net lease properties and six hotels in the three month period, and 25 net lease properties and seven hotels in the nine month period. SVC recorded a net gain on sale of real estate for the three and nine months ended September 30, 2025 of $25,256 and $25,846, respectively, in connection with the sales of three net lease properties and 40 hotels in the three month period, and 10 net lease properties and 46 hotels in the nine month period. (6) SVC recorded a net loss on early extinguishment of debt during the three and nine months ended September 30, 2026 of $335 and $61,589, respectively, in connection with make-whole premiums and the write off of unamortized deferred financing costs and discounts relating to the early redemptions of certain previously outstanding unsecured senior notes and the repayment and termination of its VFN. SVC recorded a net loss on early extinguishment of debt during the three and nine months ended September 30, 2025 of $529 in connection with the write off of unamortized deferred financing costs and discounts relating to the redemption of $350,000 of its senior unsecured notes due 2026. (7) SVC is amortizing a liability it recorded for the fair value of its initial investment in Sonesta as a reduction to hotel operating expenses in its condensed consolidated statements of income (loss). SVC reduced hotel operating expenses by $621 for each of the three months ended September 30, 2026 and 2025, related to this liability, and $1,863 for each of the nine months ended September 30, 2026 and 2025, related to this liability.

36RETURN TO TABLE OF CONTENTS Non-GAAP Financial Measures SVC presents certain “non-GAAP financial measures” within the meaning of the applicable Securities and Exchange Commission, or SEC, rules, including FFO, Normalized FFO, CAD, EBITDA, EBITDAre, Adjusted EBITDAre, NOI, Cash Basis NOI, Hotel EBITDA and Adjusted Hotel EBITDA. These measures do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income (loss) as indicators of SVC's operating performance or as measures of its liquidity. These measures should be considered in conjunction with net income (loss) as presented in SVC's condensed consolidated statements of income (loss). SVC considers these non-GAAP measures to be appropriate supplemental measures of operating performance for a REIT, along with net income (loss). SVC believes these measures provide useful information to investors because by excluding the effects of certain historical amounts, such as depreciation and amortization expense, they may facilitate a comparison of its operating performance between periods and with other REITs and, in the case of NOI, Cash Basis NOI, Hotel EBITDA and Adjusted Hotel EBITDA, reflecting only those income and expense items that are generated and incurred at the property level may help both investors and management to understand the operations of its properties. NOI and Cash Basis NOI: The calculations of NOI and Cash Basis NOI exclude certain components of net income (loss) in order to provide results that are more closely related to SVC's property level results of operations. As shown on page 21, SVC calculates NOI as rental income on its net lease properties, less net lease operating expenses as presented in its condensed consolidated statements of income (loss) in accordance with GAAP. NOI excludes depreciation and amortization. SVC defines Cash Basis NOI as NOI excluding non-cash straight line rent adjustments, lease value amortization and lease termination fees, if any. SVC calculates NOI and Cash Basis NOI to evaluate individual and company-wide property level performance. Other real estate companies and REITs may calculate NOI and Cash Basis NOI differently than SVC does. FFO and Normalized FFO: SVC calculates funds from operations, or FFO, and normalized funds from operations, or Normalized FFO, as shown on page 32. FFO is calculated on the basis defined by The National Association of Real Estate Investment Trusts, or Nareit, which is net income (loss), calculated in accordance with GAAP, plus real estate depreciation and amortization, excluding any gain or loss on sale of real estate and any loss on impairment of real estate assets, as well as adjustments to reflect SVC's share of FFO attributable to an investee and certain other adjustments currently not applicable to SVC. In calculating Normalized FFO, SVC adjusts for the items shown on page 32. FFO and Normalized FFO are among the factors considered by SVC's Board of Trustees when determining the amount of distributions to SVC's shareholders. Other factors include, but are not limited to, requirements to satisfy SVC’s REIT distribution requirements, limitations in its debt agreements, the availability to SVC of debt and equity capital, SVC's distribution rate as a percentage of the trading price of its common shares, or dividend yield, and SVC’s dividend yield compared to the dividend yields of other REITs, SVC's expectation of its future capital requirements and operating performance and its expected needs for and availability of cash to pay its obligations. Other real estate companies and REITs may calculate FFO and Normalized FFO differently than SVC does. Cash Available for Distribution: SVC calculates cash available for distribution, or CAD, as shown on page 32. SVC defines CAD as Normalized FFO minus SVC’s proportionate share of Normalized FFO from its equity method investment, plus operating cash flow distributions from its equity method investment, if any, less real estate related capital expenditures and adjusted for other non-cash and nonrecurring items. CAD is among the factors considered by SVC's Board of Trustees when determining the amount of distributions to SVC's shareholders. Other real estate companies and REITs may calculate CAD differently than SVC does. EBITDA, EBITDAre and Adjusted EBITDAre: SVC calculates earnings before interest, taxes, depreciation and amortization, or EBITDA, EBITDA for real estate, or EBITDAre, and Adjusted EBITDAre as shown on page 33. EBITDAre is calculated on the basis defined by Nareit, which is EBITDA, excluding gains and losses on the sale of real estate, loss on impairment of real estate assets, if any, and adjustments to reflect SVC's share of EBITDAre attributable to an investee. In calculating Adjusted EBITDAre, SVC adjusts for the items shown on page 33. Other real estate companies and REITs may calculate EBITDA, EBITDAre and Adjusted EBITDAre differently than SVC does. Hotel EBITDA and Adjusted Hotel EBITDA: SVC calculates Hotel EBITDA as hotel operating revenues less hotel operating expenses of all managed and leased hotels, prior to any adjustments required for presentation in its condensed consolidated statements of income (loss) in accordance with GAAP, as shown on page 34. Adjusted Hotel EBITDA excludes certain items SVC believes do not reflect the ongoing operating performance of SVC’s hotels. SVC believes that Hotel EBITDA and Adjusted Hotel EBITDA provide useful information to management and investors as a key measure of the profitability of its hotel operations. Non-GAAP Financial Measures and Certain Definitions

37RETURN TO TABLE OF CONTENTS Non-GAAP Financial Measures and Certain Definitions (Continued) Other Definitions Adjusted Hotel EBITDA Margin: Adjusted Hotel EBITDA as a percentage of hotel operating revenues. Adjusted Total Assets and Total Unencumbered Assets: Adjusted total assets and total unencumbered assets include the original cost of real estate assets calculated in accordance with GAAP, before impairment write-downs, if any, and exclude depreciation and amortization, accounts receivable and intangible assets. ADR: ADR (average daily rate) represents rooms revenue divided by the total number of room nights sold in a given period. ADR provides useful insight on pricing at SVC's hotels and is a measure widely used in the hotel industry. Annualized Dividend Yield: Annualized dividend yield represents the annualized dividend paid during the period divided by the closing price of SVC's common shares at the end of the period. Annualized Minimum Rent: Generally, SVC's lease agreements with its net lease tenants require payment of minimum rent to SVC. Certain of these minimum rent payment amounts are secured by full or limited guarantees. Annualized minimum rent represents cash amounts and excludes adjustments, if any, necessary to record scheduled rent changes on a straight line basis or any expense reimbursements. Annualized minimum rent for TA excludes the impact of rents prepaid by TA. Cash Cap Rate: Cash cap rate represents the ratio of the in place annual minimum cash rent divided by the purchase price. Chain Scale: As characterized by STR Inc., a data benchmark and analytics provider for the lodging industry. Chain Scale segments are grouped primarily according to average room rates. Comparable Hotels Data: SVC presents RevPAR, ADR and occupancy for the periods presented on a comparable basis to facilitate comparisons between periods. SVC defines comparable hotels as those that it owned on September 30, 2026 and were open and operating for the entirety of the periods being compared. There were no non-comparable hotels in the periods presented. Consolidated Income Available for Debt Service: Consolidated income available for debt service, as defined in SVC's debt agreements, is earnings from operations excluding interest expense, depreciation and amortization, loss on asset impairment, unrealized appreciation on assets of properties held for sale, gains and losses on early extinguishment of debt, gains and losses on sales of property and amortization of deferred charges. Debt: Debt amounts reflect the principal balance as of the date reported. Net debt means total debt less unrestricted cash and cash equivalents as of the date reported. Earnings and Adjustments Attributable to an Investee: Earnings and Adjustments Attributable to an Investee represents SVC's proportionate share from its equity investment in Sonesta. Exit Hotels: Exit Hotels represents eight hotels sold in October 2026, as well as one hotel managed by Sonesta and one hotel managed by InterContinental Hotels Group, PLC that are currently in various stages of being sold. Furniture, Fixtures and Equipment (FF&E) Reserves: FF&E Reserves, or FF&E Reserves from managed hotel operations, represents various percentages of total sales at certain of SVC's hotels that are escrowed as reserves for future renovations or refurbishments, or FF&E Reserve escrows. SVC owns all the FF&E Reserve escrows for its hotels. GAAP: GAAP represents U.S. generally accepted accounting principles. GAAP Cap Rate: GAAP Cap Rate represents the ratio of the annual average minimum cash rent over the life of the lease term divided by the purchase price. General and Administrative Expense Paid in Common Shares: Amounts represent the equity compensation for SVC’s Trustees, officers and certain other officers and employees of RMR. Gross Book Value of Real Estate Assets: Gross book value of real estate assets is real estate properties at cost plus acquisition related costs, if any, before purchase price allocations, less impairment write-downs, if any. Hotel Capital Improvements and FF&E Reserve Fundings: Generally include the replacement or upgrades of obsolete building components and expenditures that extend the useful life of existing assets or replacement of FF&E.

38RETURN TO TABLE OF CONTENTS Non-GAAP Financial Measures and Certain Definitions (Continued) Investment: SVC defines hotel investment as historical cost of its properties plus capital improvements funded by it less impairment write-downs, if any, and excludes capital improvements made from FF&E Reserves funded from hotel operations that do not result in increases in SVC’s incentive threshold or owner’s priority returns. SVC defines net lease investment as historical cost of its properties plus capital improvements funded by SVC less impairment write-downs, if any. Lease Related Costs: Generally include capital expenditures used to improve tenants' space or amounts paid directly to tenants to improve their space and leasing related costs, such as brokerage commissions and tenant inducements. Non-Cash Expenses: Non-cash expenses represents general and administrative expense paid in common shares and amortization of liabilities relating to SVC’s initial investment in Sonesta and its former investment in The RMR Group, Inc. Non-Cash Interest Expense: Non-cash interest expense represents amortization of debt issuance costs, discounts and premiums. Non-Cash Revenues: Non-cash revenues represents straight-line rent adjustments, lease value amortization, FF&E Reserves, including interest income earned, and the impact of rents prepaid by TA. Occupancy: Occupancy represents the total number of room nights sold divided by the total number of room nights available at a hotel or group of hotels, and represents occupied properties as of the end of the period shown for net lease properties. Occupancy is an important measure of the utilization rate and demand of SVC's properties. Owner's Priority Return: Each of its management agreements or leases with hotel operators provides for payment to SVC of an annual owner’s priority return or minimum rent, respectively. Certain of these minimum payment amounts are secured by full or limited guarantees. In addition, certain of its hotel management agreements provide for payment to SVC of additional amounts to the extent of available cash flows as defined in the management agreement. Payments of these additional amounts are not guaranteed. Recurring Capital: Recurring capital represents capital expenditures excluding redevelopment and other activity. Redevelopment and Other Activities: Redevelopment and Other Activities generally include projects that reposition a property or result in new sources of revenue and other non-recurring capital expenditures. Rent Coverage: SVC defines rent coverage as earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, divided by the annual minimum rent due to SVC weighted by the minimum rent of the property to total minimum rents of the net lease portfolio. Tenants with no minimum rent required under the lease are excluded. EBITDAR amounts used to determine rent coverage are generally for the latest twelve-month period, based on the most recent operating information, if any, furnished by the tenant. Operating statements furnished by the tenant often are unaudited and, in certain cases, may not have been prepared in accordance with GAAP and are not independently verified by SVC. In instances where SVC does not have tenant financial information, it calculates an implied coverage ratio for the period based on other tenants with available financial statements operating the same brand or within the same industry. As a result, SVC believes using this implied coverage metric provides a more reasonable estimated representation of recent operating results and the financial condition for those tenants. Retained Hotels: Retained Hotels represents 53 hotels managed by Sonesta, 17 hotels managed by Hyatt Hotels Corporation and seven hotels managed by Radisson Hospitality, Inc. that SVC will continue to own after the Exit Hotels are sold. RevPAR: RevPAR (revenue per available room) represents rooms revenue divided by the total number of room nights available to guests for a given period. RevPAR is an industry metric correlated to occupancy and ADR and helps measure revenue performance over comparable periods. Rolling Four Quarter CAD: Rolling Four Quarter CAD represents CAD for the preceding twelve-month period as of the respective quarter end date. SOFR: SOFR represents the secured overnight financing rate. Sonesta: Sonesta represents Sonesta Holdco Corporation and its subsidiaries. Total Gross Assets: Total gross assets represents total assets plus accumulated depreciation, including assets of properties held for sale. Weighted Average Lease Term: The average lease term in years weighted on annualized minimum rent.

39RETURN TO TABLE OF CONTENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements regarding: the Board's assessment of the value of SVC's hotel portfolio and of the unsolicited, non-binding proposal SVC received from TKO for its hotel portfolio; SVC's business plan and Board-approved strategy, including expected margin expansion at its hotels, deleveraging and cash flow growth and its ability to maximize long-term value for shareholders; SVC’s progress in strengthening its cash flow through active asset management, portfolio optimization and capital allocation; anticipated benefits from hotel renovations; continued performance improvement of SVC’s hotel properties; cash flow from SVC’s net lease portfolio; expanding margins at Retained Hotels; SVC’s execution of additional hotel dispositions, including the expected timing thereof and benefits therefrom, including eliminating cash flow drag and avoiding future capital expenditures, as well as shifting SVC’s portfolio toward service-focused retail net lease properties over time; the potential to extend or refinance SVC’s secured revolving credit facility; and SVC's full year 2026 guidance and related assumptions, including with respect to the displacement as a result of hotel renovations. Forward-looking statements reflect management's current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SVC's actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause SVC's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: whether SVC will realize value for its hotel portfolio equal to or greater than the value of TKO's unsolicited, non-binding proposal; the possibility of additional unsolicited proposals, shareholder actions or litigation, and the related costs and diversion of management's attention; SVC's ability and the ability of SVC's tenants and managers to operate under unfavorable market and commercial real estate industry conditions due to, among other things, uncertainties surrounding interest rates and inflation, supply chain disruptions, emerging technologies, volatility in the public equity and debt markets, changing tariffs and trade policies and related uncertainty, geopolitical instability and tensions, pandemics, any U.S. government shutdown, economic downturns or a possible recession, labor market conditions or changes in real estate utilization; the ability of Sonesta to successfully operate the hotels it manages for SVC; SVC’s ability to repay or refinance its debts as they mature or otherwise become due; SVC’s ability to sell properties at prices it targets, and the timing of such sales; SVC’s ability to raise or appropriately balance the use of debt or equity capital; SVC’s ability to extend, amend, replace or refinance its revolving credit facility; continued availability of borrowings under SVC’s revolving credit facility is subject to SVC satisfying certain financial covenants and other credit facility conditions; SVC's ability to maintain sufficient liquidity, including the availability of borrowings under its revolving credit facility; SVC's ability to pay interest on and principal of its debt; whether and the extent to which SVC’s tenants and managers will pay the contractual amounts of returns, rents or other obligations due to SVC; the impact of changes in U.S. and foreign government administrative policies, including the imposition of or increases in tariffs and changes to existing trade agreements, on macroeconomic conditions, supply chains and the cost of products SVC’s operators use, and on the results of operations of SVC’s operators and SVC; competition within the commercial real estate, hotel, transportation and travel center and other industries in which SVC's tenants and managers operate, particularly in those markets in which SVC's properties are located; potential defaults under SVC’s leases and management agreements by its tenants and managers; SVC's ability to make cost-effective improvements to SVC's properties that enhance their appeal to net lease tenants and hotel guests; SVC's ability to pay distributions to its shareholders and to increase or sustain the amount of such distributions; SVC's ability to acquire properties that realize its targeted returns; SVC’s ability to identify properties that it wants to acquire or to negotiate acceptable purchase prices, acquisition financing terms, management agreements or lease terms for new properties, or ability to complete acquisitions; SVC's ability to increase rents at its net leased properties as SVC's leases expire and hotel room rates in excess of its operating expenses and to grow its business; SVC's ability to increase and maintain net lease property and hotel room occupancy at its properties; SVC’s ability to engage and retain qualified tenants and managers for its net lease properties and hotels on satisfactory terms; SVC's ability to diversify its sources of rents and returns that improve the security of its cash flows; SVC's credit ratings; the ability of SVC's manager, RMR, to successfully manage SVC; actual and potential conflicts of interest with SVC's related parties, including its Managing Trustees, Sonesta, RMR and others affiliated with them; SVC's ability to realize benefits from the scale, geographic diversity, strategic locations and variety of service levels of its hotels; limitations imposed by and SVC's ability to satisfy complex rules to maintain its qualification for taxation as a REIT for U.S. federal income tax purposes; compliance with, and changes to, federal, state and local laws and regulations, accounting rules, tax laws and similar matters; acts of terrorism, war or other hostilities, outbreaks of pandemics or other public health safety events or conditions, global climate change or other man-made or natural disasters beyond its control; and other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SVC's periodic filings. The information contained in SVC's filings with the SEC, including under the caption "Risk Factors" in SVC's periodic reports, or incorporated therein, identifies important factors that could cause differences from SVC's forward-looking statements in this presentation. SVC's filings with the SEC are available on the SEC's website at www.sec.gov. You should not place undue reliance upon SVC's forward-looking statements. Except 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. Warning Concerning Forward-Looking Statements

Investor Presentation November 2026 | Nasdaq: SVC Exhibit 99.3

Warning Concerning Forward-Looking Statements, Disclaimers and Non-GAAP Financial Measures Warning Concerning Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements regarding: potential margin, RevPAR, CAD, cash flow and EBITDA growth; the Board’s assessment of the potential value of SVC’s retained hotel portfolio, including hypothetical enterprise values based on targeted EBITDA and assumed valuation multiples; SVC’s strategic transformation to a predominantly service-focused retail net lease REIT; the potential benefits from SVC’s capital recycling, liquidity, leasing, acquisition and asset management initiatives, asset sales, revenue mix, labor and operating efficiency, operating leverage, secured financings and unencumbered properties; the durability of SVC’s cash flows and its ability to generate free cash flow; SVC’s expectations regarding CapEx; SVC’s execution of additional hotel dispositions, including the expected timing thereof; the completion and timing of hotel renovations, redevelopments and reopenings, and the anticipated benefits therefrom, including enhanced guest experiencing, pricing power and market share gains; the potential benefits of SVC’s hotel portfolio mix, locations, event calendar, and customer demand trends; the competitive advantages of SVC’s travel center properties; the potential benefits of SVC’s master trust and other secured financing structures, the focus of the executive leadership of Sonesta International Hotels Corporation and its subsidiaries, or Sonesta; SVC’s ability to enhance liquidity, refinance or extend its secured revolving credit facility and other debt, address upcoming debt maturities, accelerate deleveraging and unlock long-term value; SVC’s expected benefits from the second half of 2026 through 2028 demand drivers; and SVC's full year 2026 guidance and projections and related assumptions, including with respect to displacement as a result of hotel renovations. Forward-looking statements reflect management's current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause SVC's actual results, performance or achievements to differ materially from expected future results, performance or achievements expressed or implied in those forward-looking statements. Some of the risks, uncertainties and other factors that may cause SVC's actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: SVC's ability and the ability of SVC's tenants and managers to operate under unfavorable market and commercial real estate industry conditions due to, among other things, uncertainties surrounding interest rates and inflation, supply chain disruptions, emerging technologies, volatility in the public equity and debt markets, changing tariffs and trade policies and related uncertainty, geopolitical instability and tensions, pandemics, any U.S. government shutdown, economic downturns or a possible recession, labor market conditions or changes in real estate utilization; the ability of Sonesta to successfully operate the hotels it manages for SVC; SVC’s ability to achieve its targeted Hotel EBITDA, EBITDA margins, RevPAR, CAD, cost savings and other operating improvements within the expected time frames, or at all; whether completed or planned renovations, redevelopments, reopenings and operator initiatives produce the anticipated revenue, market share, margin or other benefits; whether industry RevPAR growth and other third party forecasts on which certain of SVC’s projections are based prove to be accurate; whether anticipated event, travel and other demand drivers materialize or benefit SVC’s hotels as expected; whether labor efficiencies, operating expense savings, revenue mix changes and reductions in customer acquisition costs are achieved; the valuation multiples that hotel assets may command in the future, which may be lower than those assumed in this presentation; SVC’s ability to repay or refinance its debts as they mature or otherwise become due; SVC’s ability to sell properties at prices it targets, and the timing and completion of such sales; SVC’s ability to raise or appropriately balance the use of debt or equity capital; SVC’s ability to extend, amend, replace or refinance its revolving credit facility; continued availability of borrowings under SVC’s revolving credit facility is subject to SVC satisfying certain financial covenants and other credit facility conditions; SVC's ability to maintain sufficient liquidity, including the availability of borrowings under its revolving credit facility; SVC's ability to pay interest on and principal of its debt; whether SVC’s unencumbered properties, master trust or other collateral provide the liquidity or refinancing flexibility anticipated; whether and the extent to which SVC’s tenants and managers will pay the contractual amounts of returns, rents or other obligations due to SVC; the impact of changes in U.S. and foreign government administrative policies, including the imposition of or increases in tariffs and changes to existing trade agreements, on macroeconomic conditions, supply chains and the cost of products SVC’s operators use, and on the results of operations of SVC’s operators and SVC; competition within the commercial real estate, hotel, transportation and travel center and other industries in which SVC's tenants and managers operate, particularly in those markets in which SVC's properties are located; potential defaults under SVC’s leases and management agreements by its tenants and managers; SVC's ability to make cost-effective improvements to SVC's properties that enhance their appeal to net lease tenants and hotel guests; SVC's ability to pay distributions to its shareholders and to increase or sustain the amount of such distributions; SVC's ability to acquire properties that realize its targeted returns; SVC’s ability to identify properties that it wants to acquire or to negotiate acceptable purchase prices, acquisition financing terms, management agreements or lease terms for new properties, or ability to complete acquisitions; SVC's ability to increase rents at its net leased properties as SVC's leases expire and hotel room rates in excess of its operating expenses and to grow its business; SVC's ability to increase and maintain net lease property and hotel room occupancy at its properties; SVC’s ability to engage and retain qualified tenants and managers for its net lease properties and hotels on satisfactory terms; SVC's ability to diversify its sources of rents and returns that improve the security of its cash flows; SVC's credit ratings; the ability of SVC's manager, RMR, to successfully manage SVC; actual and potential conflicts of interest with SVC's related parties, including its Managing Trustees, Sonesta, RMR and others affiliated with them; SVC's ability to realize benefits from the scale, geographic diversity, strategic locations and variety of service levels of its hotels; limitations imposed by and SVC's ability to satisfy complex rules to maintain its qualification for taxation as a REIT for U.S. federal income tax purposes; compliance with, and changes to, federal, state and local laws and regulations, accounting rules, tax laws and similar matters; acts of terrorism, war or other hostilities, outbreaks of pandemics or other public health safety events or conditions, global climate change or other man-made or natural disasters beyond its control; and other matters. These risks, uncertainties and other factors are not exhaustive and should be read in conjunction with other cautionary statements that are included in SVC's periodic filings. The information contained in SVC's filings with the SEC, including under the caption "Risk Factors" in SVC's periodic reports, or incorporated therein, identifies important factors that could cause differences from SVC's forward-looking statements in this presentation. SVC's filings with the SEC are available on the SEC's website at www.sec.gov. You should not place undue reliance upon SVC's forward-looking statements. Except 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. Notes Regarding Certain Information in this Presentation This presentation contains industry and statistical data that SVC obtained from various third party sources. Nothing in the data used or derived from third party sources should be construed as investment advice. Some data and other information presented are also based on SVC’s good faith estimates and beliefs derived from its review of internal surveys and independent sources and its experience. SVC believes that these external sources, estimates and beliefs are reliable and reasonable, but it has not independently verified them. Although SVC is not aware of any misstatements regarding the data presented herein, these estimates and beliefs involve inherent risks and uncertainties and are based on assumptions that are subject to change. This presentation includes pro forma information for the transactions described in this presentation. The pro forma adjustments are based on available information and assumptions SVC’s management believes are reasonable; however, such adjustments are subject to change as transaction-related agreements are finalized. This presentation also includes hypothetical enterprise values for SVC’s retained hotel portfolio. These hypothetical values are presented for illustrative purposes only, are based on targeted EBITDA and assumed valuation multiples that may not be achieved, and are not projections of SVC’s future results or indications of the prices at which SVC’s hotels could be sold or the trading price of SVC’s common shares. Non-GAAP Financial Measures This presentation contains non-GAAP financial measures including FFO, Normalized FFO, CAD, EBITDA, Hotel EBITDA, Adjusted Hotel EBITDA, EBITDAre, Adjusted EBITDAre, NOI and Cash Basis NOI. Calculations of, and reconciliations (if applicable) for, these metrics to the closest GAAP metrics, are included in the appendix hereto. Please refer to Non-GAAP Financial Measures and Certain Definitions in the Appendix for terms used throughout this presentation. Unless otherwise noted, all data presented are as of or for the three or nine months ended September 30, 2026. 2

SVC At a Glance Total Portfolio (1) 3 827 Properties 46 States, Washington, D.C., Puerto Rico & Canada 22 Industries 150 Brands 192 Tenants / Operators $1.6B Total Revenues LTM (1) Portfolio as of and for the LTM ended September 30, 2026. Defensively Positioned Service-Focused Retail Net Lease Portfolio (1) Full Service Oriented Portfolio Positioned to Capture Market Share and Unlock Value (1) 87 Properties 19,897 Keys $1.2B Total Revenues LTM 740 Properties 13.5M Rentable Square Feet $395M Annualized Minimum Rent • Naturally defensive real estate with essential-use properties and historically low earnings volatility across economic cycles • High quality tenant base anchored by travel centers backed by investment grade credit tenant under long-term lease • Durable cash flows with contractual annual rent escalators, providing built-in inflation protection • Minimal ongoing CapEx requirements • Focused portfolio of full‑service hotels located in markets with durable demand drivers and stronger long-term pricing power • Positioned for potential margin and EBITDA growth following the recent multiyear renovation and repositioning cycle • Actively seeking to exit non‑core, capital‑intensive hotels to improve consolidated free cash flow • Transitioning from capital investment and disruption to earnings recovery phase, supported by renovation lift and new hotel leadership focused on unlocking long-term value

SVC: Investment Highlights 1 Following a multiyear renovation program, SVC’s 77 retained hotels have outperformed U.S. Industry benchmark RevPAR for eight consecutive quarters, by an average of 240 bps 2 Continued renovation lift, combined with identified hotel operator initiatives target an estimated ~$109 million of additional EBITDA upside within approximately 12 to 24 months 3 Net lease retail portfolio provides stable cash flow, supported by high-quality tenants, long-term leases and contractual rent growth, with proven value through recent secured financings 4 Financial profile materially strengthened with the redemption of ~$1.6 billion of debt in 2026 to date, improving SVC’s debt maturity ladder, leverage metrics and financial flexibility 5 Capital recycling initiatives are expected to accelerate deleveraging and enhance liquidity, specifically resulting from the 2026 sale of 15 hotels generating ~$14 million of negative EBITDA on an LTM basis 6 Moderating CapEx after three years of significant investment to reposition the retained hotel portfolio, combined with $61 million of annualized cash interest expense savings from capital markets activity in 2026 to date, positions SVC for sustainable free cash flow generation in 2026 and beyond 4

• Renovation of Nautilus Sonesta South Beach substantially complete – Expected to fully reopen in Q4 2026 • Under letters of intent to sell two hotels totaling 795 keys, including the Crowne Plaza Atlanta Perimeter in Atlanta, Georgia • Repaid and terminated $45 million variable funding note, or VFN • In discussions with lenders to extend or refinance secured revolving credit facility Third Quarter 2026 Highlights 5 Recent Developments Net Lease Portfolio Performance (1)Retained Hotel Portfolio Performance (1) 97.6% Occupancy 30 bps Occupancy Growth 8.3% RevPAR Growth 16.2% Adjusted Hotel EBITDA Growth 330 bps Occupancy Growth 130 bps Adjusted Hotel EBITDA Margin Expansion $117M Hotel Gross Proceeds 14 Hotels (1) Growth metrics reflect comparisons to 3Q25. (2) Properties sold since 2Q26. $14M Total Acquisition Purchase Price Since 2Q26 5 Properties Acquired Since 2Q26 Disposition Activity (2)

After Selling 142 Hotels for $1.1 Billion, Retained Hotels are High Quality and Positioned for Growth 6 Hotel Portfolio Mix as of January 2024 Retained Hotel Portfolio Mix as of September 2026 • Included large amount of smaller, focused service hotels ─ 134 of the 142 hotels sold were select service or extended stay • Meaningful cash flow drag from non-core properties • Significant exposure in markets with more limited demand drivers • High capital needs with lower growth potential • More focused, high quality portfolio with ~70% of keys in top 25 markets • Strong margin and cash flow growth potential • Significant historical capital investments position portfolio for growth • Exit prices of smaller, older assets from Legacy Portfolio mask value of well-located larger full service hotels in Retained Portfolio ~$1.1B Hotel disposition proceeds Jan. ‘24 – Nov. ‘26 Legacy Portfolio Retained Portfolio 86% Upper Upscale & Upscale 62% Upper Upscale & Upscale % of Keys 142 Hotels | ~19,400 Keys 100+ Cities | 18 Buyers 221 Hotels | 37,777 Keys 77 Hotels | ~ 17,593 Keys Upscale Midscale Upper Midscale Upper Upscale Upscale Midscale Upper Midscale Upper Upscale % of Keys

~12 – 24 Months Retained Hotels are Positioned for Significant EBITDA Growth 7 Lift from completed renovations and displacement recovery Anticipated labor efficiencies and operating expense savings Hotel EBITDA Margin Incremental RevPAR growth(1) Revenue mix and higher converting customer segments ~14% ~20% (1) Based on Retained Hotel 2026 full year revenue guidance of $1.0 billion (midpoint), multiplied by CBRE all U.S. Hotels RevPAR forecast (August 2026) of 2.4% in 2027 and 2.9% in 2028, combined with revenue lift from hotel renovations. Reduced customer acquisition costs through mix and fee reduction ~$109 Million of Incremental EBITDA Upside

$248 Million of Targeted Retained Hotel Portfolio EBITDA Improved Hotel EBITDA Supports Meaningful Value Creation and Continued Deleveraging 8 Potential Retained Hotel Portfolio Value • Higher Retained Hotel Portfolio value supports Board approved strategy to reduce leverage and continue shifting its portfolio toward service-focused net lease portfolio over time. • SVC current leverage (Net Debt / rolling four-quarter Adjusted EBITDAre) is 9.0x, whereas net lease REIT peers operate at an average of ~5.0x leverage. (2) $3.0 Billion $3.2 Billion $3.5 Billion × 12.0x = × 13.0x = × 14.0x = Initial Upside Potential Value (1) ~20%EBITDA Margin: $3.2 Billion $3.5 Billion $3.7 Billion 22% $3.5 Billion $3.8 Billion $4.1 Billion 24% Multiple (1) Targeted Retained Hotel Portfolio EBITDA at 22% and 24% EBITDA Margins of $267 million and $291 million, respectively. (2) Net lease peers consist of O, WPC, ADC, NNN, EPRT, EPR, FCPT and GTY. Source is FactSet.

$628 Million Invested Since 2023 Positions Retained Hotels for Growth as CapEx Moderates 9 Retained Hotel Portfolio Spend as a % of Revenues (2023 – 2026) Retained Hotel Portfolio Cumulative CapEx Spend (2023 – 2026) • From 2023 to 2026, SVC is projected to have spent $628 million, or ~$36,000 per key, in the Retained Hotel Portfolio. • Capital spending on the Retained Hotel Portfolio is projected to normalize below industry averages. (4) (1) Includes discretionary redevelopment and hotel maintenance. Excludes CapEx for Exit Hotels and net lease properties. (2) 2026 CapEx spend includes $28 million for the Nautilus South Beach hotel renovations. (3) Midpoint revenue for Retained Hotels is $1 billion. (4) Per International Society of Hospitality Consultants (ISHC) Study. (1)(2) Full Year CapEx Prior CapEx ~12% (3)

SVC Expects to Generate CAD in 2026, a Significant Milestone in Its Turnaround Following Years of Elevated CapEx Investment 10 (1) Represents amortization of debt issuance costs, discounts and premiums, including non-cash amortization of interest of approximately $44 million related to SVC’s $580 million of zero coupon senior secured notes due September 2027. Non-cash expenses are partially offset by straight line rent adjustments, lease value amortization, FF&E Reserves, including interest income earned, and the impact of rents prepaid by TravelCenters of America Inc., or TA. (2) Estimated recurring CapEx, excludes ROI redevelopment and other capital activities, which are projected to be $40 million in 2026. (3) Projected 2026 Hotel EBITDA of hotels sold 2026 to date and hotels currently marketed for sale included in midpoint FFO guidance. (4) As adjusted for the sales of Exit Hotels and before discretionary redevelopment and other capital projects. SVC does not reconcile the non-GAAP measures in its full year guidance or long term outlook because significant information, most notably loss on impairment of real estate assets, gain or loss on sale of real estate, loss on early extinguishment of debt and equity in net earnings of investees, is not available without unreasonable efforts, or at all. These items are not indicative of SVC’s ongoing operations, are uncertain and could materially impact SVC’s GAAP results for the guidance period. Cash Available for Distribution (CAD) 2026 Normalized FFO Guidance Bridge to Projected CAD as Adjusted (4) Potential additional EBITDA upside of ~$109 Million from Retained Hotel Portfolio (4)

Current (4) Cash and cash equivalents $113M Available borrowings under credit facility $650M Total Liquidity $763M Required Actual 9/30/2026 Total unencumbered assets / unsecured debt ≥150% 273.2% Total debt / adjusted total assets ≤ 60% 53.9% Secured debt / adjusted total assets ≤ 40% 33.9% Consolidated income available for debt service / debt service ≥ 1.5x 1.83x Total unencumbered assets in guarantor subsidiaries / senior guaranteed unsecured debt ≥ 2.2x 8.79x SVC is Well Positioned to Address Near Term Debt Maturities 11 (1) As of September 30, 2026 and November 2, 2026, SVC had no amounts outstanding under its $650 million revolving credit facility. SVC is currently in discussions with lenders to extend or refinance its secured revolving credit facility. (2) SVC has a one-time option to extend the maturity date of its $580.2 million of senior secured notes due 2027 by one year to September 30, 2028, subject to satisfaction of certain conditions and the payment of an extension fee. If SVC exercises this option, interest payments will be due semiannually during the extension period at an initial interest rate of 7.50% per annum, which interest rate will increase periodically by 25 bps. (3) SVC's net lease mortgage notes due 2028 and 2031 are partially amortizing and require balloon payments at maturity. These notes are prepayable without penalty 24 months prior to the expected maturity dates. (4) Liquidity as of November 2, 2026. Debt Maturities (1) ($ in millions) Secured debt supported by strong net lease collateral provides refinancing flexibility Senior Note Debt Covenants (1) Liquidity (1) (2) (3) Addressing unsecured debt with asset sales proceeds, free cash flow and refinancings

Hotel Portfolio 12

Retained Hotel Portfolio: Strong Presence in Top Markets Chain Scale (3) Location (3) Customer Mix (4)Service Level (2) Retained 77 hotels (17,593 keys) focused on full-service hotels in urban and resort markets (1) Upscale AirportUrban Resort Suburban (1) Excludes Exit Hotels. (2) Based on hotel percentage of investments. (3) Based on number of keys. (4) Based on LTM room revenue. Top 10 Markets Hotels % of Keys Los Angeles 5 8.0% Chicago 3 6.6% Orange County 5 5.7% Washington, D.C. 5 5.0% Phoenix 5 4.4% Miami 3 3.9% Nashville 3 3.8% Philadelphia 2 3.2% Boston 2 3.1% Seattle 3 2.8% Subtotal 36 46.5% ~90% % Unencumbered Keys ~45% # Hotels Renovated Since 2022 ~70% % Keys in STR Top 25 U.S. Lodging Markets 13

Retained Hotel Portfolio: Operating Trends and Demand Drivers (1) For SVC’s Retained Hotels. 0.0% 6.6% 4.6% 1.9% 0.8% 1.7% 8.1% 6.4% 8.3% 0.9% 3.6% 2.2% (0.5%) (1.4%) (1.1%) 3.8% 5.7% 7.1% SVC RevPAR Quarterly Growth vs. Prior Year STR Retained Hotel Operating Trends (1) SVC retained hotel portfolio has outperformed the U.S. Hotel industry by an average of 240 bps over the past eight consecutive quarters 2H26 – 2028 Demand Drivers • Renovation Momentum – 45% of retained hotels renovated since 2022 – Continued potential uplift from enhanced guest experience and pricing power – Positioned for market share gains at renovated hotels • Favorable Event Calendar – Art Basel Miami Beach (Dec. 2026) – Super Bowl LXI in Los Angeles (Feb. 2027) – NCAA Men’s Basketball regional finals in Los Angeles (Mar. 2027) – MLB All-Star Game in Chicago (Jul. 2027) – College Football National Championship in New Orleans (Jan. 2028) – Summer Olympic Games in southern California (Jul. 2028) • Other Positive Indicators – Business transient and leisure demand remain strong, with group demand continuing to build – The “K-shaped” economy and substantial wealth creation continue to support growing higher-end travel demand – Very low new supply is expected over the next 4–5 years, supporting recovering occupancies and growing pricing power across SVC’s urban and resort markets 14

Recent Performance of Retained & Exit Hotels 15(1) Results of all hotels owned as of September 30, 2026. (1)

Retained Hotel Renovation and Redevelopment Initiatives 2025 Sonesta Simply Suites • Burlington, MA Sonesta Hotels & Resorts • Los Angeles International Airport, CA • Hilton Head, SC (Phase 2) Sonesta ES Suites • Toronto, Canada • Anaheim, CA 16 Completions 2026 Sonesta Simply Suites • Las Vegas, NV Sonesta ES Suites • Orlando Lake Buena Vista, FL Royal Sonesta • Washington, D.C. – DuPont (F&B) • Cambridge, MA (Phase 1) Targeted: Sonesta Hotels & Resorts • Atlanta Airport North • Miami Beach, FL (Redevelopment) 15.8% 3Q26 Adjusted Hotel EBITDA Growth vs. 3Q25 Sonesta ES Suites Torrance Redondo Beach (144 Keys) Sonesta Simply Suites Jersey City (214 Keys) 20.4% 3Q26 Adjusted Hotel EBITDA Growth vs. 3Q25

Net Lease Portfolio 17

Potential Benefits Strategic Priorities Triple Net Lease Portfolio: Strategic Priorities & Benefits • Current portfolio anchored by travel center properties backed by corporate investment grade credit • Diversified tenant base and geographic footprint mitigates risk • Efficient in-place debt structure through a master trust • Disciplined acquisition strategy allows for ongoing growth and optimization of portfolio • Build on existing platform focusing on properties in e-commerce resistant, necessity-based industries • Naturally defensive and less volatile asset class • Low CapEx requirements • Long-term leases create a bond-like risk-return profile • Deep and fragmented industry provides significant liquidity • Commoditized asset type with high investor demand from publicly traded net lease REITs and private 1031 exchange groups 18

(1) By annualized minimum rent. Net Lease Portfolio: Built with Properties in E-Commerce Resistant, Necessity Based Industries 740 $395M Properties Annualized Minimum Rent 13.5M 7.0 years Rentable Square Feet Weighted Average Lease Term 97.6% 2.17x Occupancy Rent Coverage % of Annualized Minimum Rent<1% >9.0% Diverse Geographical Footprint (1) Net Lease Portfolio Statistics Tenants by Industry (1) 19 Well-Laddered Lease Expirations (1) Less than 14% of the net lease portfolio expires before 2033

Net Lease Portfolio: High Quality Tenant Base 20 Brand Industry Group # of Properties Total Square Feet Annualized Minimum Rents ($M) % of SVC Annualized Minimum Rents Weighted Average Remaining Term (years) (1) Weighted Average Rent Coverage (1) % Master Leased (2) TravelCenters of America Gasoline Stations with Convenience 131 3,606,721 $183.9 46.5% 6.6 1.4x 100% Petro Stopping Centers Gasoline Stations with Convenience 44 1,445,004 $85.6 21.6% 6.6 1.4x 100% The Great Escape Warehouse Clubs, Supercenters, and Other General Merchandise Retailers 14 542,666 $7.7 1.9% 0.9 4.0x 100% Life Time Fitness Other Amusement and Recreation Industries 3 420,335 $6.3 1.6% 8.8 3.3x 100% Buehler's Fresh Foods Grocery and Convenience Retailers 5 502,727 $6.2 1.6% 9.1 2.7x 100% Express Oil Change Automotive Repair and Maintenance 23 83,825 $4.1 1.0% 8.5 5.2x 100% Pizza Hut Restaurants and Other Eating Places 43 174,616 $4.1 1.0% 10.5 2.2x 86% Norms Restaurants and Other Eating Places 10 63,490 $3.5 0.9% 18.8 3.6x 100% America's Auto Auction Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers 6 72,338 $3.5 0.9% 8.6 10.1x 100% Flying J Travel Plaza Gasoline Stations with Convenience 3 48,069 $3.3 0.8% 2.2 3.1x 100% Top 10 Brands   282 6,959,791 308.3 77.9% 6.7 1.8x 98% All Brands   740 13,542,332 $395.5 100.0% 7 2.2x 66% Notes: Totals may not sum due to rounding (1) Weighted averages are weighted by the annual minimum rent of each property. (2) % Master Leased totals represent the count of properties included in one or more master leases divided by the total number of properties. SVC’s portfolio is anchored by 175 travel centers with rents guaranteed by investment grade rated BP Corporation North America Inc., and strong brands with robust rent coverage

TA’s Competitive Advantage 21 Typical SVC TA travel center spans ~25 acres with key infrastructure, facilities and amenities TA’s Competitive Advantage Sample TA Travel Centers Larger • Sites average ~25 acres of land and offer parking for ~182 trucks and cars, as well as ~9 fueling positions • The largest competitor sites are 9 to 13 acres of land and offer parking for ~84 trucks and cars and average ~8 fueling bays Drives Increased Traffic Volume and Ability to Offer Alternative Energy Options 1 More Robust Truck Service Ecosystem • Full suite of truck repair and maintenance facilities • Emergency roadside services via TA’s RoadSquad team Promotes Customer and Fleet Loyalty and Increases Traffic Volume 2 More Driver Amenities • More extensive amenities than competitor sites, such as showers, laundry area, fitness center, entertainment options, Wi-Fi internet access and parking reservation systems Drives Increased Traffic Volume and Profitability 3 Broader Non-Fuel Offering • A typical TA travel center typically includes one large travel store, one full service restaurant and one or more quick service restaurants • Compared to competitors, TA sites boast more restaurant options, as well as more fulsome travel store inventory Transforms Superior Traffic Volume into Improved Profitability 4 Potential Benefits

SVC’s Master Trust Provides Efficient and Cost-Effective Net Lease Financing (1) 22 Master Trust Collateral Pool Snapshot Master Trust Overview Most recent issuance date March 2026 Outstanding series 2023-1, 2026-1 Ratings AAA / AA / A / BBB Current LTV 62% Current debt service coverage ratio (DSCR) 1.70x Next anticipated repayment date February 2028 Master Trust Industry Mix (2) Number of properties 471 Number of tenants 155 Number of brands 119 Occupancy 98.9% Annualized Minimum Rent $153M Weighted average remaining lease term 7.8 years Diversified form of financing with a unique investor base in the Asset-Backed Securities market (1) As of September 30, 2026. (2) Based on annualized minimum rent. ABS Financing • Strong asset base financed through the ABS market • Proven issuer of AAA-rated notes • Net lease represents a small share of ABS market, supporting strong investor demand • Refinancing flexibility with 24-month prepayment windows

SVC’s Unencumbered Net Lease Properties May Unlock Incremental Liquidity 23 Leasing opportunities and capital recycling strategies may drive added value and liquidity Properties 124 Occupancy 83.9% WALT 5.1 years Square Footage 2.7M SF Annualized Minimum Rent $24.7M Rent Coverage 3.1x Unencumbered Net Lease Portfolio Industry Mix (1) (1) Based on annualized minimum rent. Liquidity Initiatives Unencumbered Net Lease Portfolio Metrics Unencumbered Net Lease Portfolio Expirations (1) • Active leasing initiatives to enhance value and financing potential • Targeted dispositions of non-core assets and certain industry exposures

Appendix 24

Royal Sonesta Cambridge (400 Keys) Retained Hotel Portfolio: Urban 25 Well-located urban hotel properties in major gateway and business-friendly markets supported by diversified demand drivers and limited reliance on inbound international travel. Royal Sonesta New Orleans (483 Keys) Royal Sonesta Austin (190 Keys)Radisson Salt Lake City (381 Keys) Number of Hotels 22 Number of Keys 6,759 SVC Urban Properties (1) Royal Sonesta Chicago Riverfront (381 Keys) (1) As of September 30, 2026.

Retained Hotel Portfolio: Resort 26 Sonesta Hilton Head (340 Keys)Royal Sonesta Kauai (356 Keys)Nautilus Sonesta Miami Beach (250 Keys) Royal Sonesta San Juan (402 Keys) Number of Hotels 12 Number of Keys 2,861 SVC Resort Properties (1) Sonesta Fort Lauderdale (240 Keys) (1) As of September 30, 2026. Properties located in premier leisure destinations to capture resilient demand, premium pricing and long-term growth driven by experiential travel.

Retained Hotel Portfolio: Suburban 27 Sonesta Silicon Valley (238 Keys)Sonesta Simply Suites Jersey City (214 Keys)Sonesta White Plains (131 Keys) Number of Hotels 25 Number of Keys 4,153 SVC Suburban Properties (1) Sonesta Redondo Beach & Marina (346 Keys)Sonesta Select Laguna Hills (136 Keys) (1) As of September 30, 2026. Properties located in high-growth, residentially dense markets to capture steady demand from business travelers, local events, and extended-stay guests while benefiting from lower operating costs and stable cash flows.

Hyatt Place Chantilly Dulles (123 Keys) Sonesta Miami Airport (309 Keys) Retained Hotel Portfolio: Airport 28 Sonesta Los Angeles (614 Keys) Radisson Seattle Airport (204 Keys) Sonesta Nashville (392 Keys) Number of Hotels 18 Number of Keys 3,820 SVC Airport Properties (1) (1) As of September 30, 2026. Properties in strategic airport-adjacent locations to capture consistent demand from business travelers, airline crews, and overnight passengers.

Net Lease: Recent Acquisitions 29 HTeaO – Las Cruces, NM Walk On’s - Conway, AR Crunch Fitness – Tallahassee, FL Splash Car Wash – Bryant, AR Dollar General – Vermontville, MI

Approximately $37 Billion in AUM RMR Platform (1) Over 1,700 Properties More than 30 Offices Nationwide National Multi-Sector Investment Platform Industrial Residential Senior Living Medical Office Life Science Hotels Retail Office Over 800 Real Estate Professionals Institutional Infrastructure & Vertically Integrated Platform Accounting Asset Management Development Finance Human Resources Information Technology Investor Relations Legal Marketing Portfolio Management Project Management Property Management Tax Transactions The RMR Group (Nasdaq: RMR) 30(1) As of September 30, 2026.

Fees that SVC Pays to RMR are Primarily Performance Based which Aligns Interests with Shareholders RMR base management fee tied to SVC’s share price performance • Consists of an annual fee equal to generally 50 bps multiplied by the lower of: (1) SVC’s historical cost of real estate, or (2) SVC’s total market capitalization • There is no incentive for RMR to complete any transaction that could reduce share price RMR incentive fees contingent on total shareholder return outperformance • Incentive management fee: 12% of the outperformance of SVC’s total return per share compared to the MSCI U.S. REIT Diversified Index over a three year period multiplied by equity market capitalization (1) • Shareholders keep 100% of benchmark returns and at least 88% of returns in excess of the benchmark • Outperformance must be positive to be earned Other fees • Property management fee: consists of an annual fee based on 3.0% of rents collected at SVC’s managed retail net lease properties Alignment of Interests If SVC’s share price goes up and its total market cap exceeds its historical cost of real estate, RMR base management fee is capped at 50 bps of SVC’s historical cost of real estate If SVC’s share price goes down and its historical cost of real estate exceeds its total market cap, RMR gets less base management fees (50 bps on equity market cap plus debt) Incentive fee structure keeps RMR focused on increasing total shareholder return SVC shareholders have visibility into RMR, a publicly traded company SVC benefits from RMR’s national footprint and economies of scale from a platform with approximately $37 billion in AUM 31(1) The MSCI U.S. REIT Diversified Index is the benchmark index for periods beginning on and after January 1, 2026 and the MSCI U.S. REIT/Hotel & Resort REIT Index is the benchmark index for periods prior to January 1, 2026.

Condensed Consolidated Statements of Income (Loss) 32 (dollars in thousands, except per share data) See accompanying notes on page 38.

Condensed Consolidated Balance Sheets 33 (dollars in thousands, except per share data)

Calculation of FFO, Normalized FFO and CAD 34 (amounts in thousands, except per share data) See accompanying notes on page 38.

Calculation of EBITDA, EBITDAre and Adjusted EBITDAre 35 (amounts in thousands) See accompanying notes on page 38.

Calculation and Reconciliation of Hotel EBITDA and Adjusted Hotel EBITDA – All Hotels* * Results of all hotels as owned during the periods presented, including the results of hotels sold by SVC for the periods owned by SVC. 36 (dollars in thousands) See accompanying notes on page 38.

Calculation and Reconciliation of NOI and Cash Basis NOI for Net Lease Properties 37 (dollars in thousands) See accompanying notes on page 38.

Notes to Condensed Consolidated Statements of Income (Loss) and Calculations of FFO, Normalized FFO, CAD, EBITDA, EBITDAre, Adjusted EBITDAre, NOI, Cash Basis NOI, Hotel EBITDA and Adjusted Hotel EBITDA 38 (dollars in thousands) 1. SVC increased rental income by $1,009 and $2,257 for the three months ended September 30, 2026 and 2025, respectively, and increased rental income by $4,318 and $8,818 for the nine months ended September 30, 2026 and 2025, respectively, to record scheduled rent changes under certain of its leases on a straight line basis. 2. When managers of SVC's hotels are required to fund the shortfalls of owner's priority return under the terms of the management agreements or their guarantees, SVC reflects such fundings in its condensed consolidated statements of income (loss) as a reduction of hotel operating expenses. When these shortfalls are replenished by cash flows from the applicable hotel operations in excess of the owner's priority return due, SVC reflects such replenishment in its condensed consolidated statements of income (loss) as an increase to hotel operating expenses. The net change to hotel operating expenses was a decrease of $279 and $1,023 for the three and nine months ended September 30, 2026, respectively, and the net change to hotel operating expenses was a decrease of $1,480 and $4,953 for the three and nine months ended September 30, 2025, respectively. 3. Transaction related costs for the three and nine months ended September 30, 2026 of $1,857 and $4,829, respectively, primarily consist of costs related to the sale of certain hotels, partially offset by the recovery of deposits associated with certain previously terminated hotel sales. Transaction related costs for the three and nine months ended September 30, 2025, of $2,683 and $4,139, respectively, primarily consist of costs related to the sale and renovation of certain hotels, partially offset by the recovery of a working capital reserve during the three months ended March 31, 2025 related to SVC’s former agreement with Marriott International, Inc. previously deemed uncollectable and expensed in 2021. 4. SVC recorded a loss on asset impairment for the three and nine months ended September 30, 2026 of $53,691 and $270,883, respectively, to reduce the carrying value of six net lease properties and six hotels in the three month period, and 27 net lease properties and 12 hotels in the nine month period, to their estimated fair value less costs to sell. SVC recorded a loss on asset impairment for the three and nine months ended September 30, 2025 of $27,067 and $81,788, respectively, to reduce the carrying value of one net lease property and 25 hotels in the three month period, and three net lease properties and 28 hotels in the nine month period, to their estimated fair value less costs to sell. 5. SVC recorded a loss on sale of real estate for the three and nine months ended September 30, 2026 of $1,103 and $131, respectively, in connection with the sales of six net lease properties and six hotels in the three month period, and 25 net lease properties and seven hotels in the nine month period. SVC recorded a net gain on sale of real estate for the three and nine months ended September 30, 2025 of $25,256 and $25,846, respectively, in connection with the sales of three net lease properties and 40 hotels in the three month period, and 10 net lease properties and 46 hotels in the nine month period. 6. SVC recorded a net loss on early extinguishment of debt during the three and nine months ended September 30, 2026 of $335 and $61,589, respectively, in connection with make-whole premiums and the write off of unamortized deferred financing costs and discounts relating to the early redemptions of certain previously outstanding unsecured senior notes and the repayment and termination of its VFN. SVC recorded a net loss on early extinguishment of debt during the three and nine months ended September 30, 2025 of $529 in connection with the write off of unamortized deferred financing costs and discounts relating to the redemption of $350,000 of its senior unsecured notes due 2026. 7. SVC is amortizing a liability it recorded for the fair value of its initial investment in Sonesta as a reduction to hotel operating expenses in its condensed consolidated statements of income (loss). SVC reduced hotel operating expenses by $621 for each of the three months ended September 30, 2026 and 2025, related to this liability, and $1,863 for each of the nine months ended September 30, 2026 and 2025, related to this liability.

Non-GAAP Financial Measures and Certain Definitions Non-GAAP Financial Measures SVC presents certain “non-GAAP financial measures” within the meaning of the applicable Securities and Exchange Commission, or SEC, rules, including FFO, Normalized FFO, CAD, EBITDA, EBITDAre, Adjusted EBITDAre, NOI, Cash Basis NOI, Hotel EBITDA and Adjusted Hotel EBITDA. These measures do not represent cash generated by operating activities in accordance with GAAP and should not be considered alternatives to net income (loss) as indicators of SVC's operating performance or as measures of its liquidity. These measures should be considered in conjunction with net income (loss) as presented in SVC's condensed consolidated statements of income (loss). SVC considers these non-GAAP measures to be appropriate supplemental measures of operating performance for a REIT, along with net income (loss). SVC believes these measures provide useful information to investors because by excluding the effects of certain historical amounts, such as depreciation and amortization expense, they may facilitate a comparison of its operating performance between periods and with other REITs and, in the case of NOI, Cash Basis NOI, Hotel EBITDA and Adjusted Hotel EBITDA, reflecting only those income and expense items that are generated and incurred at the property level may help both investors and management to understand the operations of its properties. FFO and Normalized FFO: SVC calculates funds from operations, or FFO, and normalized funds from operations, or Normalized FFO, as shown on page 34. FFO is calculated on the basis defined by The National Association of Real Estate Investment Trusts, or Nareit, which is net income (loss), calculated in accordance with GAAP, plus real estate depreciation and amortization, excluding any gain or loss on sale of real estate and any loss on impairment of real estate assets, as well as adjustments to reflect SVC's share of FFO attributable to an investee and certain other adjustments currently not applicable to SVC. In calculating Normalized FFO, SVC adjusts for the items shown on page 34. FFO and Normalized FFO are among the factors considered by SVC's Board of Trustees when determining the amount of distributions to SVC's shareholders. Other factors include, but are not limited to, requirements to satisfy SVC’s REIT distribution requirements, limitations in its debt agreements, the availability to SVC of debt and equity capital, SVC's distribution rate as a percentage of the trading price of its common shares, or dividend yield, and SVC’s dividend yield compared to the dividend yields of other REITs, SVC's expectation of its future capital requirements and operating performance and its expected needs for and availability of cash to pay its obligations. Other real estate companies and REITs may calculate FFO and Normalized FFO differently than SVC does. Cash Available for Distribution: SVC calculates cash available for distribution, or CAD, as shown on page 34. SVC defines CAD as Normalized FFO minus SVC’s proportionate share of Normalized FFO from its equity method investment, plus operating cash flow distributions from its equity method investment, if any, less real estate related capital expenditures and adjusted for other non-cash and nonrecurring items. CAD is among the factors considered by SVC's Board of Trustees when determining the amount of distributions to SVC's shareholders. Other real estate companies and REITs may calculate CAD differently than SVC does. EBITDA, EBITDAre and Adjusted EBITDAre: SVC calculates earnings before interest, taxes, depreciation and amortization, or EBITDA, EBITDA for real estate, or EBITDAre, and Adjusted EBITDAre as shown on page 35. EBITDAre is calculated on the basis defined by Nareit, which is EBITDA, excluding gains and losses on the sale of real estate, loss on impairment of real estate assets, if any, and adjustments to reflect SVC's share of EBITDAre attributable to an investee. In calculating Adjusted EBITDAre, SVC adjusts for the items shown on page 35. Other real estate companies and REITs may calculate EBITDA, EBITDAre and Adjusted EBITDAre differently than SVC does. NOI and Cash Basis NOI: The calculations of NOI and Cash Basis NOI exclude certain components of net income (loss) in order to provide results that are more closely related to SVC's property level results of operations. SVC calculates NOI, as rental income on its net lease properties, less net lease operating expenses as presented in its condensed consolidated statements of income (loss) in accordance with GAAP. NOI excludes depreciation and amortization. SVC defines Cash Basis NOI as NOI excluding non-cash straight line rent adjustments, lease value amortization and lease termination fees, if any. SVC calculates NOI and Cash Basis NOI to evaluate individual and company-wide property level performance. Other real estate companies and REITs may calculate NOI and Cash Basis NOI differently than SVC does. Hotel EBITDA and Adjusted Hotel EBITDA: SVC calculates Hotel EBITDA as hotel operating revenues less hotel operating expenses of all managed and leased hotels, prior to any adjustments required for presentation in its condensed consolidated statements of income (loss) in accordance with GAAP, as shown on page 36. Adjusted Hotel EBITDA excludes certain items SVC believes do not reflect the ongoing operating performance of SVC’s hotels. SVC believes that Hotel EBITDA and Adjusted Hotel EBITDA provide useful information to management and investors as a key measure of the profitability of its hotel operations. 39

Non-GAAP Financial Measures and Certain Definitions (Continued) Adjusted Hotel EBITDA Margin: Adjusted Hotel EBITDA as a percentage of hotel operating revenues. Adjusted Total Assets and Total Unencumbered Assets: Adjusted total assets and total unencumbered assets include the original cost of real estate assets calculated in accordance with GAAP, before impairment write-downs, if any, and exclude depreciation and amortization, accounts receivable and intangible assets. ADR: ADR (average daily rate) represents rooms revenue divided by the total number of room nights sold in a given period. ADR provides useful insight on pricing at SVC's hotels and is a measure widely used in the hotel industry. Annualized Minimum Rent: Generally, SVC's lease agreements with its net lease tenants require payment of minimum rent to SVC. Certain of these minimum rent payment amounts are secured by full or limited guarantees. Annualized minimum rent represents cash amounts and excludes adjustments, if any, necessary to record scheduled rent changes on a straight line basis or any expense reimbursements. Annualized minimum rent for TA excludes the impact of rents prepaid by TA. Chain Scale: As characterized by STR Inc., a data benchmark and analytics provider for the lodging industry. Chain Scale segments are grouped primarily according to average room rates. Comparable Hotels Data: SVC presents RevPAR, ADR and occupancy for the periods presented on a comparable basis to facilitate comparisons between periods. SVC defines comparable hotels as those that it owned on September 30, 2026 and were open and operating for the entirety of the periods being compared. There were no non-comparable hotels in the periods presented. Consolidated Income Available for Debt Service: Consolidated income available for debt service, as defined in SVC's debt agreements, is earnings from operations excluding interest expense, depreciation and amortization, loss on asset impairment, unrealized appreciation on assets of properties held for sale, gains and losses on early extinguishment of debt, gains and losses on sales of property and amortization of deferred charges. Debt: Debt amounts reflect the principal balance as of the date reported. Net debt means total debt less unrestricted cash and cash equivalents as of the date reported. Earnings and Adjustments Attributable to an Investee: Earnings and Adjustments Attributable to an Investee represents SVC's proportionate share from its equity investment in Sonesta. Exit Hotels: Exit Hotels represents eight hotels sold in October 2026, as well as one hotel managed by Sonesta and one hotel managed by InterContinental Hotels Group, PLC that are currently in various stages of being sold. Furniture, Fixtures and Equipment (FF&E) Reserves: FF&E Reserves, or FF&E Reserves from managed hotel operations, represents various percentages of total sales at certain of SVC's hotels that are escrowed as reserves for future renovations or refurbishments, or FF&E Reserve escrows. SVC owns all the FF&E Reserve escrows for its hotels. GAAP: is U.S. generally accepted accounting principles. General and Administrative Expense Paid in Common Shares: Amounts represent the equity compensation for SVC’s Trustees, officers and certain other officers and employees of RMR. 40

Non-GAAP Financial Measures and Certain Definitions (Continued) Investment: SVC defines hotel investment as historical cost of its properties plus capital improvements funded by it less impairment write-downs, if any, and excludes capital improvements made from FF&E Reserves funded from hotel operations that do not result in increases in SVC’s incentive threshold or owner’s priority returns. SVC defines net lease investment as historical cost of its properties plus capital improvements funded by SVC less impairment write-downs, if any. LTM: LTM means last twelve months ended September 30, 2026. Non-Cash Expenses: Non-cash expenses represents general and administrative expense paid in common shares and amortization of liabilities relating to SVC’s initial investment in Sonesta and its former investment in The RMR Group, Inc. Non-Cash Interest Expense: Non-cash interest expense represents amortization of debt issuance costs, discounts and premiums. Non-Cash Revenues: Non-cash revenues represents straight-line rent adjustments, lease value amortization, FF&E Reserves, including interest income earned, and the impact of rents prepaid by TA. Occupancy: Occupancy represents the total number of room nights sold divided by the total number of room nights available at a hotel or group of hotels and represents occupied properties as of the end of the period shown for net lease properties. Occupancy is an important measure of the utilization rate and demand of SVC's properties. Owner's Priority Return: Each of its management agreements or leases with hotel operators provides for payment to SVC of an annual owner’s priority return or minimum rent, respectively. Certain of these minimum payment amounts are secured by full or limited guarantees. In addition, certain of its hotel management agreements provide for payment to SVC of additional amounts to the extent of available cash flows as defined in the management agreement. Payments of these additional amounts are not guaranteed. Recurring Capital: Recurring capital expenditures is capital expenditures excluding redevelopment and other activity. Redevelopment and Other Activities: Redevelopment and Other Activities generally include projects that reposition a property or result in new sources of revenue and other non-recurring capital expenditures. Rent Coverage: SVC defines rent coverage as earnings before interest, taxes, depreciation, amortization and rent, or EBITDAR, divided by the annual minimum rent due to SVC weighted by the minimum rent of the property to total minimum rents of the net lease portfolio. Tenants with no minimum rent required under the lease are excluded. EBITDAR amounts used to determine rent coverage are generally for the latest twelve-month period, based on the most recent operating information, if any, furnished by the tenant. Operating statements furnished by the tenant often are unaudited and, in certain cases, may not have been prepared in accordance with GAAP and are not independently verified by SVC. In instances where SVC does not have tenant financial information, it calculates an implied coverage ratio for the period based on other tenants with available financial statements operating the same brand or within the same industry. As a result, SVC believes using this implied coverage metric provides a more reasonable estimated representation of recent operating results and the financial condition for those tenants. Retained Hotels: Retained Hotels represents 53 hotels managed by Sonesta, 17 hotels managed by Hyatt Hotels Corporation and seven hotels managed by Radisson Hospitality, Inc. that SVC will continue to own after the Exit Hotels are sold. RevPAR: RevPAR (revenue per available room) represents rooms revenue divided by the total number of room nights available to guests for a given period. RevPAR is an industry metric correlated to occupancy and ADR and helps measure revenue performance over comparable periods. Weighted Average Lease Term: The average lease term in years weighted on annualized minimum rent. 41

Investor Presentation November 2026 | Nasdaq: SVC Two Newton Place 255 Washington Street, Suite 300 Newton, MA 02458 SVCREIT.COM

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