Service Properties Trust (NASDAQ:SVC) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET

Company Participants

Stephen Colbert - Director of IR

Todd Hargreaves - President and CIO

Brian Donley - Treasurer and CFO

Conference Call Participants

Bryan Maher - B. Riley

Operator

Good morning, and welcome to the Service Properties Trust First Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Stephen Colbert, Director of Investor Relations. Please go ahead.

Stephen Colbert

Good morning. Joining me on today's call are Todd Hargreaves, President and Chief Investment Officer; and Brian Donley, Treasurer and Chief Financial Officer. Today's call includes a presentation by management, followed by a question-and-answer session with analysts. Please note that the recording retransmission and transcription of today's conference call is prohibited without the prior written consent of SVC.

I'd like to point out that today's conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based on SVC's present beliefs and expectations as of today, May 9, 2023. Actual results may differ materially from those projected in these forward-looking statements.

Additional information concerning factors that could cause those differences is contained in our filings with the SEC, which can be accessed from our website at svcreit.com or the SVC website. The company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements made in today's conference call.

In addition, this call may contain non-GAAP financial measures, including normalized funds from operations, or normalized FFO and adjusted EBITDAre. Reconciliations of the non-GAAP financial measures to net income, as well as components to calculate AFFO are available in our enhanced earnings released presentation, which can be found on our website. We believe this combined presentation will be helpful for analysts and investors to efficiently digest information about our company and financial results.

Finally, on today's call, we will be discussing the previously announced terms of our agreement with BP that will be effective upon the completion of their acquisition of TravelCenters of America. TA's special shareholder meeting to vote on the transaction is scheduled for tomorrow, May 10. And we will not be taking questions on that merger.