TKO proposes $2 billion acquisition of Service Properties hotel assets

TKO proposed to acquire hotel assets under Service Properties Trust for $2 billion in cash. On October 27, 2026, TKO Chief Executive Officer Jim Koehler responded to the acquisition, saying that Service Properties Trust has underinvested in the hotels for years and that TKO is capable of improving these hotels. The acquisition remains at the stage of TKO's proposal and response; the report did not disclose whether an agreement has been reached, whether approval from relevant parties has been obtained, or the expected completion time.