Service Properties Trust reports a Schedule 13G/A showing beneficial ownership of 55,019,156 shares (approximately 8.5%) by FF Hybrid, LP, Flat Footed LLC and Marc Andersen.
The filing states the 8.5% figure is calculated from a base of 647,221,237 shares, composed of 584,721,237 shares outstanding as represented in the issuer prospectus and 62,500,000 shares issued upon exercise of underwriter options, as described in a press release dated April 2, 2026. The filers report shared voting and dispositive power over the 55,019,156 shares.
Positive
None.
Negative
None.
Insights
13G/A lists a passive large-holder disclosure of 55,019,156 shares (8.5%).
The statement identifies FF Hybrid, LP, Flat Footed LLC and Marc Andersen as holding shared voting and dispositive power over 55,019,156 shares. The percentage is tied to a 647,221,237 share base that includes an underwriter option exercise.
Filers rely on Rule 13d-4 disclaimers; this appears to be an ownership disclosure, not an intent to acquire more shares. Subsequent filings would show changes in position.
Shares reported beneficially owned55,019,156 sharesAmount reported for FF Hybrid, Flat Footed LLC, Marc Andersen
Ownership percentage8.5%Percent of class based on 647,221,237 share base
Shares outstanding (issuer representation)584,721,237 sharesRepresented by issuer in prospectus (as of April 2, 2026 filing context)
Underwriter option shares62,500,000 sharesShares issued upon exercise of underwriter options per press release dated April 2, 2026
Share base used for percent647,221,237 sharesTotal used to calculate the <b>8.5%</b> ownership figure
Key Terms
Schedule 13G/A, Rule 13d-4, shared dispositive power
3 terms
Schedule 13G/Aregulatory
"Schedule 13G/A showing beneficial ownership of 55,019,156 shares"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Rule 13d-4regulatory
"Pursuant to Rule 13d-4, as amended, each of the Funds... expressly disclaims beneficial ownership"
shared dispositive powerfinancial
"Shared power to dispose or to direct the disposition of: 55,019,156"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Service Properties Trust
(Name of Issuer)
Common Shares of Beneficial Interest
(Title of Class of Securities)
81761L102
(CUSIP Number)
04/01/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
81761L102
1
Names of Reporting Persons
FF Hybrid, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
55,019,156.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
55,019,156.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
55,019,156.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
81761L102
1
Names of Reporting Persons
Flat Footed LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
55,019,156.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
55,019,156.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
55,019,156.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
IA, HC, OO
SCHEDULE 13G
CUSIP Number(s):
81761L102
1
Names of Reporting Persons
Marc Andersen
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
55,019,156.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
55,019,156.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
55,019,156.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.5 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Service Properties Trust
(b)
Address of issuer's principal executive offices:
C/O THE RMR GROUP, C/O THE RMR GROUP, NEWTON, MASSACHUSETTS, 02458.
Item 2.
(a)
Name of person filing:
FF Hybrid, LP
Flat Footed LLC
Marc Andersen
(b)
Address or principal business office or, if none, residence:
FF Hybrid, LP
c/o Flat Footed LLC
3415 North Pines Way, Suite 205
Wilson, WY 83014
Flat Footed LLC
3415 North Pines Way, Suite 205
Wilson, WY 83014
Marc Andersen
c/o Flat Footed LLC
3415 North Pines Way, Suite 205
Wilson, WY 83014
(c)
Citizenship:
FF Hybrid, LP - DE
Flat Footed LLC - DE
Marc Andersen - USA
(d)
Title of class of securities:
Common Shares of Beneficial Interest
(e)
CUSIP No.:
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Flat Footed LLC is an investment adviser that is registered under the Investment Advisers Act of 1940. Flat Footed LLC, which serves as the investment manager to FF Hybrid, LP and various private funds (collectively, the "Funds"), which holds securities for the benefit of their investors and Mr. Marc Andersen, as Managing Member of Flat Footed LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds and by the Other Fund. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, each of the Funds and Other Fund expressly disclaims beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that any of the Funds or Other Fund are the beneficial owner of any of the securities reported herein.
FF Hybrid, LP - 55,019,156
Flat Footed LLC - 55,019,156
Marc Andersen - 55,019,156
(b)
Percent of class:
Ownership percentage is based on 647,221,237 which is comprised of (i) 584,721,237 shares of the registrant's common shares outstanding as represented by the Issuer in the Prospectus filed with the Securities and Exchange Commission on April 2, 2026, plus (ii) 62,500,000 shares of the registrant's common shares issued upon the exercise of the underwriters' options, as reported in the registrant's press release dated April 2, 2026.
FF Hybrid, LP - 8.5%
Flat Footed LLC - 8.5%
Marc Andersen - 8.5%
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Note Above.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
FF Hybrid, LP
Signature:
/s/ Marc Andersen
Name/Title:
Marc Andersen, Managing Member of Flat Footed II GP, LLC, its General Partner
What stake does FF Hybrid/Flat Footed/Marc Andersen report in SVC?
They report beneficial ownership of 55,019,156 shares (direct or shared). The filing states this equals approximately 8.5% of a 647,221,237 share base, reflecting outstanding shares plus underwriter option exercises disclosed on April 2, 2026.
How was the 8.5% ownership percentage calculated for SVC?
The percentage is based on 647,221,237 shares. That total comprises 584,721,237 shares the issuer represented as outstanding and 62,500,000 shares from underwriter option exercises per a press release dated April 2, 2026.
Do the filers claim sole control over the 55,019,156 SVC shares?
No. The filing reports 0 shares of sole voting or sole dispositive power and 55,019,156 shares of shared voting and dispositive power, indicating shared control among the listed entities and person.
Are the listed funds disclaiming beneficial ownership in the Schedule 13G/A?
Yes. The filing cites Rule 13d-4 and states each of the Funds and the Other Fund expressly disclaims beneficial ownership of the securities reported in the statement, per the text in Item 4.
Does the filing indicate any intent to buy or sell additional SVC shares?
The Schedule 13G/A provides an ownership disclosure only. It does not state any intent to acquire or dispose of additional shares; no transaction intentions are described in the excerpt.
