2 unchanged sentences
Based upon that evaluation, our President and Chief Executive Officer and our Chief Financial Officer and Treasurer concluded that our disclosure controls and procedures are effective.
−Removed: There have been no changes in our internal control over financial reporting during the quarter ended June 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: There have been no changes in our internal control over financial reporting during the quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Warning Concerning Forward-Looking Statements
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our contemplated disposition program;
−Removed: our ability to acquire single-tenant freestanding properties that are either service oriented, non-discretionary or e-commerce resistant, potential amendments to our existing hotel management agreements with Sonesta;
+Added: our ability to acquire single-tenant freestanding properties that are either service oriented, non-discretionary or e-commerce resistant;
+Added: potential extension of our IHG agreement;
and the amount and timing of future distributions.
2 unchanged sentences
• The ability of Sonesta to successfully operate the hotels it manages for us,
−Removed: • Our ability and the ability of our managers and tenants to operate under unfavorable market and commercial real estate industry conditions due to, among other things, uncertainties surrounding interest rates and inflation, supply chain disruptions, emerging technologies, volatility in the public equity and debt markets, effect of or changes to tariffs or trading policies, pandemics, geopolitical instability and tensions, economic downturns or a possible recession, labor market conditions or changes in real estate utilization,
+Added: • Our ability and the ability of our managers and tenants to operate under unfavorable market and commercial real estate industry conditions due to, among other things, uncertainties surrounding interest rates and inflation, supply chain disruptions, emerging technologies, volatility in the public equity and debt markets, effect of or changes to tariffs or trading policies, pandemics, geopolitical instability and tensions, any U.S.
+Added: government shutdown, economic downturns or a possible recession, labor market conditions or changes in real estate utilization,
• Our ability to sell properties at prices we target, and the timing of such sales,
• Continued availability of borrowings under our revolving credit facility is subject to our satisfying certain financial covenants and other credit facility conditions,
−Removed: The consolidated income available for debt service to debt service ratio is below the 1.50x requirement under our public debt covenants as of June 30, 2025.
−Removed: We are not permitted under our debt agreements to incur additional debt while this ratio is below 1.50x.
−Removed: As a precautionary measure, we have fully drawn our $650.0 million revolving credit facility to maintain our financial flexibility.
−Removed: Our ability to incur debt may be limited for an extended period of time.
−Removed: We cannot be certain how long our consolidated income available for debt service to debt service ratio may remain below 1.50x.
−Removed: We may not have any immediately available borrowing capacity to meet any funding needs beyond our cash on hand if our operating results and financial condition are significantly and adversely impacted by current economic conditions or otherwise.
−Removed: If we cannot incur additional debt, we may be forced to raise additional sources of capital on unfavorable terms or take other measures to maintain adequate liquidity and we may not succeed in raising any capital we may need,
• Our ability to repay or refinance our debts as they mature or otherwise become due,
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.