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Service Properties Trust (SVC) raised over $850 million in proceeds from asset sales and new zero-coupon bonds. The company repaid its revolving credit facility and retired all 2026 senior notes, improving its debt maturity profile. SVC's hotel portfolio showed steady growth, with revPAR up 20 basis points YoY, outpacing the broader industry. The net lease portfolio performed well, with rent growth over 2% and occupancy over 97%. However, hotel EBITDA declined due to elevated labor costs and operational disruptions from hotel dispositions.

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