Blackwells Capital Sends Letter to the Board of Trustees of Service Properties Trust
Globe Newswire•06/11/2026•08:30 ET
0
Key Highlights
- ➤Blackwells demands competitive sale process for SVC’s hotel portfolio after $2.0 billion offer rejection
- ➤SVC says $2.0 billion significantly undervalues hotels, despite offer exceeding twice total equity value
- ➤SVC market equity roughly $815 million after share price declines 85% in five years
- ➤Blackwells cites $9.6 billion invested capital and $2.5-$3.0 billion projected retained-hotel value
- ➤Blackwells demands repeal of bylaws restricting nominations, shareholder access and litigation rights
Expert Statements
Jason Aintabi, Chief Investment Officer of Blackwells Capital LLC
“Service Properties Trust carries $9.6 billion of invested capital; the market values its entire equity at roughly $815 million; every fee stream in between has flourished. A board that tells its owners the hotels alone are worth significantly more than $2.0 billion has exactly one legitimate way to prove it: a genuine process, run in the open, by unconflicted trustees.”
Demands a Transparent, Competitive Sale Process Overseen by Unconflicted Trustees
Demands Repeal of Bylaw Provisions Blackwells Believes Unlawfully Extinguish the Rights That Make a Share a Share
Get started
Create a free account to read the full story.