![GRAPHIC](https://capedge.com/proxy/8-K/0001104659-22-063658/tm2216187d1_ex99-1img041.jpg)
| 41 SERVICE PROPERTIES TRUST (Nasdaq: SVC) | May 2022 Calculation and Reconciliation of Hotel EBITDA - Comparable Hotels (dollars in thousands)` Three Months Ended Twelve Months Ended 3/31/2022 12/31/2021 9/30/2021 6/30/2021 3/31/2021 12/31/2019 Number of hotels 295 295 295 295 295 304 Room revenues $ 254,623 $ 266,272 $ 291,663 $ 243,054 $ 147,785 $ 1,674,585 Food and beverage revenues 25,145 30,429 24,989 18,428 7,834 256,640 Other revenues 12,614 12,973 13,697 12,389 7,889 80,990 Hotel operating revenues - comparable hotels 292,382 309,674 330,349 273,871 163,508 2,012,215 Rooms expenses 86,475 87,792 90,006 78,782 55,101 462,284 Food and beverage expenses 22,233 25,558 20,356 15,114 8,676 203,087 Other direct and indirect expenses 126,378 122,562 124,598 107,024 110,530 606,647 Management fees 11,554 12,409 12,543 10,524 5,152 15,233 Real estate taxes, insurance and other 35,490 27,317 28,468 29,774 30,192 153,445 FF&E reserves (7) 1,794 1,236 1,411 1,135 764 72,612 Hotel operating expenses 283,924 276,874 277,382 242,354 210,414 1,513,308 Hotel EBITDA $ 8,458 $ 32,800 $ 52,967 $ 31,517 $ (46,906) $ 498,907 Hotel EBITDA Margin 2.9 % 10.6 % 16.0 % 11.5 %(28.7)% 24.8 % Hotel operating revenues (GAAP) (8) $ 297,406 $ 317,215 $ 338,375 $ 280,135 $ 168,953 $ 1,989,173 Add (less) Hotel operating revenues from non-comparable hotels (5,024) (7,541) (8,026) (6,264) (5,445) 23,042 Hotel operating revenues - comparable hotels $ 292,382 $ 309,674 $ 330,349 $ 273,871 $ 163,508 $ 2,012,215 Hotel operating expenses (GAAP) (8) $ 290,343 $ 286,968 $ 285,233 $ 243,183 $ 195,352 $ 1,410,927 Add (less) Hotel expenses from non-comparable hotels (8,276) (11,951) (9,883) (7,891) 3,285 (51,603) Hotel operating expenses of leased hotels ————— 66,187 Reduction for security deposits and guaranty funding, net (9) ——— 5,306 10,392 29,162 Management and incentive management fees paid from cash flows in excess of minimum returns —————(11,002) FF&E reserves from managed hotel operations (7) 1,236 1,236 1,411 1,135 764 69,637 Other (10) 621 621 621 621 621 — Hotel operating expenses $ 283,924 $ 276,874 $ 277,382 $ 242,354 $ 210,414 $ 1,513,308 See accompanying notes on page 43. |