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Reduces Quarterly Distribution to $0.01 Per Share; $127 Million in Annual Savings Will Increase Liquidity

114 Sonesta Managed Focused Service Hotels Expected to be Sold in 2025; SVC Expects to Use Net Sales Proceeds to Repay Debt

Actions are Expected to Reduce Capital Expenditures and Leverage, Improve Portfolio Performance and Better Position SVC’s Hotel Portfolio for the Long Term