TKO Offers $2 Billion for SVC Hotel Portfolio

TKO LLC made an unsolicited $2.0 billion all-cash proposal on October 9, 2026, to acquire Service Properties Trust's portfolio of 93 hotels. SVC confirmed receipt that evening in a 6:45 p.m. EDT press release and said its Board of Trustees will review and consider the proposal. SVC shares closed up 15% at $7.15 on Friday and gained a further 2% after hours. MarketWatch reported SVC did not immediately respond to requests for comment. a sale would allow SVC to retire more than 40% of its outstanding indebtedness. SVC also owns 745 service-focused retail net lease properties. As of June 30, 2026, it had $9.7 billion invested across the two asset categories, and the hotels held over 21,000 guest rooms in the United States, Puerto Rico, and Canada. TKO LLC buys and repositions hotel assets across the U.S. SVC is managed by The RMR Group, which had over $37 billion in assets under management as of June 30, 2026. The board's review is under way; no decision has been announced.