Service Properties Trust and Hyatt Agree to Extend Termination Date
NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has reached an agreement with a subsidiary of Hyatt Hotels Corporation, or Hyatt, to extend the termination date of the management agreement for 22 Hyatt Place hotels to May 22, 2021, versus April 8, 2021, previously. SVC and Hyatt remain in discussions regarding possible changes to the management agreement which may enable some or all of the hotels to remain Hyatt Place hotels managed by Hyatt.
About Service Properties Trust
Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto…