XML 51 R38.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Indebtedness (Details) $ in Thousands |  |  | 3 Months Ended | 9 Months Ended | 12 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | ---
Oct. 04, 2022 USD ($) | Apr. 14, 2022 USD ($) | Sep. 30, 2022 USD ($) hotel | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) hotel extension | Sep. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) hotel | Jun. 15, 2022 | Apr. 13, 2022 USD ($) | Dec. 31, 2021 USD ($)
Indebtedness |  |  |  |  |  |  |  |  |  |
Revolving credit facility, outstanding borrowings |  |  | $ 95,000 |  | $ 95,000 |  |  |  |  | $ 1,000,000
Senior unsecured notes, net |  |  | 5,652,590 |  | 5,652,590 |  |  |  |  | $ 6,143,022
Repayments of credit facility |  |  |  |  | 925,000 | $ 62,451 |  |  |  |
Loss on early extinguishment of debt |  |  | $ 0 | $ 0 | $ (791) | $ 0 |  |  |  |
Senior Unsecured Notes, due 2022 at 5.00% |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Interest rate, stated percentage |  |  | 5.00% |  | 5.00% |  | 5.00% | 5.00% |  |
Loss on early extinguishment of debt |  |  | $ 201 |  | $ 201 |  |  |  |  |
Senior Unsecured Notes, due 2023 at 4.50% |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Minimum restricted liability |  |  | $ 150,000 |  | $ 150,000 |  |  |  |  |
Interest rate, stated percentage |  |  | 4.50% |  | 4.50% |  |  |  |  |
Subsequent event | Senior Unsecured Notes, due 2023 at 4.50% |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Minimum restricted liability | $ 600,000 |  |  |  |  |  |  |  |  |
Senior notes | $ 500,000 |  |  |  |  |  |  |  |  |
Interest rate, stated percentage | 4.50% |  |  |  |  |  |  |  |  |
COVID-19 | Senior Unsecured Notes, due 2022 at 5.00% |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Senior notes |  | $ 500,000 |  |  |  |  |  |  |  |
Revolving credit facility |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Revolving credit facility, maximum borrowing capacity |  | $ 800,000 | $ 800,000 |  | $ 800,000 |  |  |  | $ 1,000,000 |
Debt extension option, number | extension |  |  |  |  | 1 |  |  |  |  |
Extension term |  | 6 months |  |  | 6 months |  | 6 months |  |  |
Credit facility fee percentage |  |  |  |  | 0.30% |  |  |  |  |
Annual interest rate |  |  | 5.26% |  | 5.26% |  |  |  |  |
Weighted average annual interest rate |  |  | 4.37% | 2.85% | 3.36% | 2.85% |  |  |  |
Minimum restricted liability |  |  | $ 150,000 |  | $ 150,000 |  | $ 125,000 |  |  |
Repayments of credit facility |  | $ 200,000 |  |  |  |  |  |  |  |
Maximum purchase price of real property |  | $ 300,000 |  |  |  |  |  |  |  |
Fixed charge coverage ratio |  | 1 |  |  |  |  |  |  | 1.5 |
Leverage ratio limit |  | 70.00% |  |  |  |  |  |  | 60.00% |
Capital contributions |  | $ 100,000 |  |  |  |  |  |  |  |
Increase in aggregate limit of capital contributions |  | $ 50,000 |  |  |  |  |  |  |  |
Premium increase |  | 0.25% |  |  |  |  |  |  |  |
Loss on early extinguishment of debt |  |  |  |  | $ 590 |  |  |  |  |
Revolving credit facility | Subsequent event |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Extension term | 6 months |  |  |  |  |  |  |  |  |
Revolving credit facility | COVID-19 |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Revolving credit facility, maximum borrowing capacity |  |  |  |  |  |  | $ 2,300,000 |  |  |
Revolving credit facility | LIBOR |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Basis spread on variable rate |  | 2.50% |  |  | 2.35% |  |  |  |  |
LIBOR floor |  |  |  |  | 0.50% |  |  |  |  |
Senior unsecured notes |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Senior unsecured notes, net |  |  | $ 5,700,000 |  | $ 5,700,000 |  |  |  |  |
Revolving Credit Facility And Term Loan |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Collateral properties with first mortgage liens | hotel |  |  | 73 |  | 73 |  | 74 |  |  |
Collateral to secure debt |  |  | $ 1,573,608 |  | $ 1,573,608 |  |  |  |  |
Revolving Credit Facility And Term Loan | Maximum |  |  |  |  |  |  |  |  |  |
Indebtedness |  |  |  |  |  |  |  |  |  |
Funding capital expenditures |  |  |  |  |  |  | $ 250,000 |  |  |
Other investments |  |  |  |  |  |  | $ 50,000 |  |  |

X
- Definition Debt Instrument, Collateral Properties With First Mortgage Liens + References No definition available. + Details
Name: | svc_DebtInstrumentCollateralPropertiesWithFirstMortgageLiens
Namespace Prefix: | svc_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Debt Instrument, Covenant, Capital Expenditures + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantCapitalExpenditures
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Debt Instrument, Covenant Compliance, Fixed Charge Coverage Ratio + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantComplianceFixedChargeCoverageRatio
Namespace Prefix: | svc_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition Debt Instrument, Covenant Compliance, Leverage Ratio Limit + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantComplianceLeverageRatioLimit
Namespace Prefix: | svc_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Debt Instrument, Covenant Compliance, Minimum Restricted Liquidity + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantComplianceMinimumRestrictedLiquidity
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Debt Instrument, Covenant Compliance, Waiver Period Maximum Amount Of Capital Contributions + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantComplianceWaiverPeriodMaximumAmountOfCapitalContributions
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Debt Instrument, Covenant Compliance, Waiver Period, Maximum Purchase Of Real Estate + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantComplianceWaiverPeriodMaximumPurchaseOfRealEstate
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Debt Instrument, Covenant, Other Investment Funding + References No definition available. + Details
Name: | svc_DebtInstrumentCovenantOtherInvestmentFunding
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Debt Instrument, Extension Option, Number + References No definition available. + Details
Name: | svc_DebtInstrumentExtensionOptionNumber
Namespace Prefix: | svc_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Extension Option, Term + References No definition available. + Details
Name: | svc_DebtInstrumentExtensionOptionTerm
Namespace Prefix: | svc_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Interest Rate, Effective Percentage, Premium Increase (Decrease) + References No definition available. + Details
Name: | svc_DebtInstrumentInterestRateEffectivePercentagePremiumIncreaseDecrease
Namespace Prefix: | svc_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the weighted average interest rate for borrowings during the period. + References No definition available. + Details
Name: | svc_DebtInstrumentWeightedAverageInterestRate
Namespace Prefix: | svc_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Increase (Decrease) Of Debt Instrument, Covenant Compliance, Waiver Period Maximum Amount Of Capital Contributions + References No definition available. + Details
Name: | svc_IncreaseDecreaseOfDebtInstrumentCovenantComplianceWaiverPeriodMaximumAmountOfCapitalContributions
Namespace Prefix: | svc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition London Interbank Offered Rate (LIBOR), Floor Rate + References No definition available. + Details
Name: | svc_LondonInterbankOfferedRateLIBORFloorRate
Namespace Prefix: | svc_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of assets pledged to secure a debt instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentCollateralAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126972273&loc=d3e12355-112629 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 50 -Section 40 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126972273&loc=d3e12317-112629 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 + Details
Name: | us-gaap_GainsLossesOnExtinguishmentOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(f)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_RepaymentsOfLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16(a)) -URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 + Details
Name: | us-gaap_SeniorNotes
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=svc_SeniorNotes5.00PercentDue2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=svc_SeniorNotes4.50PercentDue2023Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_UnusualOrInfrequentItemAxis=svc_COVID19Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=svc_RevolvingCreditFacilityAndTermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |