40 Mins
Source:
الاقتصادية
TKO spends 2 billion on hotel portfolio
TKO LLC has submitted a cash offer of two billion dollars to acquire the hotel asset portfolio owned by Service Properties Trust. This move aims to provide liquidity to the fund and reduce its debt. The proposed offer includes the purchase of 93 hotels and 745 leased properties under long-term contracts until June 2026, with the goal of enhancing rental cash flow stability and decreasing reliance on hotel profits, which are affected by economic demand fluctuations. The offer exceeds the current market value of the fund and presents an opportunity to finance the repayment of more than 40% of its debt, subject to approval by the Service Properties Trust board and ongoing negotiations.
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