Service Properties Trust Rejects Blackwells’ Requests to Engage TKO

Service Properties Trust rejected Blackwells Capital LLC’s requests to engage with TKO LLC and other interested parties.

The board sent Blackwells a formal response letter. Blackwells is pressing the trust to pursue a sale and seeking engagement with TKO and other potential buyers.

TKO proposed acquiring the trust’s entire hospitality portfolio for $2 billion in October. The dispute follows Blackwells’ earlier push for a sale after TKO’s proposal.