Service Properties Trust (NASDAQ:SVC) Q3 2024 Earnings Conference Call November 7, 2024 10:00 AM ET

Company Participants

Kevin Barry - Senior Director of IR
Todd Hargreaves - President and Chief Investment Officer
Jesse Abair - VP
Brian Donley - Treasurer and CFO

Conference Call Participants

Bryan Maher - B. Riley
Dori Kesten - Wells Fargo
Tyler Batory - Oppenheimer

Operator

Hello, good morning, and welcome to the Service Properties Trust Third Quarter 2024 conference call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to hand the call to Kevin Barry, Senior Director of Investor Relations. Please go ahead.

Kevin Barry

Thank you, and good morning, everyone. Thanks for joining us today. With me on the call are Todd Hargreaves, President and Chief Investment Officer, Jesse Abair, Vice President, and Brian Donley, Treasurer and Chief Financial Officer.

In just a moment, they will provide details about our business and our performance for the third quarter of 2024, followed by a question-and-answer session with sell-side analysts. I would like to note that the recording retransmission of today's conference call is prohibited without the prior written consent of the company. Also note 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 beliefs and expectations as of today, November 7th, 2024, and actual results may differ materially from those that we project. 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. Additional information concerning factors that can cause those differences is contained in our filings with the SEC, which can be accessed from our website at svcreit.com or the SEC's website. Investors are cautioned not to place undue reliance upon any forward-looking statements.

In addition, this call may contain non-GAAP financial measures, including normalized funds from operations or normalized FFO, cash available for distribution or CAD, and adjusted EBITDAre. A reconciliation of these non-GAAP figures to net income are available in SVC's Earnings Release Presentation that we issued last night, which can be found on our website.

And finally, we are providing guidance on this call, including Hotel EBITDA. We are not providing a reconciliation of this non-GAAP measure as part of our guidance because certain information required for such a reconciliation is not available without unreasonable efforts or at all. With that, I will turn the call over to Todd.