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TKO Defends $2 Billion Cash Bid for Service Properties Hotels
FeaturedfinanceSkift··1 min·For: Owner, Investor, Revenue

TKO Defends $2 Billion Cash Bid for Service Properties Hotels

TKO CEO Jim Koehler is defending his company's $2 billion all-cash offer to acquire Service Properties Trust's 92-hotel portfolio. Koehler claims the target assets have suffered from years of underinvestment and states he has the nine-figure personal liquidity to back the turnaround.

Key Takeaways

  1. 1TKO offered $2 billion in cash for Service Properties Trust's 92-hotel, 21,000-room portfolio.
  2. 2CEO Jim Koehler claims the portfolio was chronically underinvested and offered to share personal financials.
  3. 3Acquiring the portfolio would quadruple TKO's current footprint of around 5,000 hotel rooms.

Read original source →

Source: Skift

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