TKO Bids $2 Billion to Acquire Service Properties Trust's 92-Hotel Portfolio, Aiming to Revitalize Underinvested Assets
🏨 The CEO of TKO, Jim Koehler, announced a $2 billion cash bid for Service Properties Trust's 92-hotel portfolio, citing underinvestment. TKO owns 44 hotels with over 4,000 rooms, potentially exceeding 5,000 rooms with other stakes. Service Properties Trust's portfolio is nearly four times larger, with nearly 21,000 rooms. Koehler has offered his personal financial statement to the trust, claiming "nine figures" in cash. Financing details for the full offer remain undisclosed.
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