Hotel acq & dev. Focus on hotels, restaurants, real estate, business, economy, and history. And sports. Views 100% my own. DMs open
Joined August 2020
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A new pinned tweet! Links below to a glossary of terms (will be updated on an ongoing basis), my bio thread, and whatever else feels right
I really want to create a hotel bar dedicated to the legends of the world’s great drinkers… Andre the Giant, Richard Burton, Liz Taylor, Wade Boggs, Hemingway, Churchill, Fields, etc., being the basis for the concept, with drinks, art, and staff telling the stories with gusto
So I’m really befuddled by this one. Anybody have any info on TKO or Jim Koehler? Most recent thing I can find is them opening a Resi Inn back in 2016 in Casper, WY
Maybe I’m a moron (definitely) but this feels awfully fake
🏨 TKO Bids $2.0B for Service Properties Trust Portfolio
TKO Hotels has submitted a formal all-cash offer to acquire the entire hotel portfolio of $SVC Service Properties Trust for $2.0 billion. If accepted, this transaction could serve as a major catalyst for SVC to transition into a pure-play net lease REIT.
💰 The $2.0 billion all-cash price tag for the hotel portfolio alone exceeds SVC’s entire current public market capitalization.
📉 The proceeds would allow SVC to retire more than 40 percent of its outstanding debt, easing ongoing refinancing pressures.
🏬 By shedding its capital-intensive lodging assets, SVC can sharpen its focus on its 745-property net lease retail platform.
📈 The retained retail platform generates over $500 million in annual EBITDA with minimal operational complexity.
🔄 TKO argues that cash certainty today outweighs the risk-adjusted path of multi-year portfolio streamlining.
⚖️ The deal aims to eliminate the operational complexity and cyclical volatility inherent in hospitality assets.
🚪 Management faces a fundamental choice between cash certainty now versus relying on multi-year interest rate declines.
🤝 TKO has engaged experienced financial and legal advisors and is prepared to work swiftly toward a definitive agreement.
prnewswire.com/news-releases…
Some Hotel Guy retweeted
Are any of my followers/Promote podcast fans in the restaurant/catering business and want to sponsor bites for our live pod in New York in November? Please DM me if so. Thank you!
Father of Nations Builds Capacity of the Glorious State to Destroy Capitalist Pigs
So, after taking 31 US government equity stakes in private companies over the last year, Trump just announced a MAJORITY-STATE-OWNED oil company?
This isn't even "creeping" socialism anymore.
wsj.com/business/energy-oil/…
Coke replacing Pepsi? No Marriott at Key Bridge? Wow, David really IS in charge…
Remember old Key Bridge Marriott, which shuttered in 2021 to make way for a planned mixed-use development that never happened? Well, there's new news on what might come next. (Hint: A new @Marriott hotel, sadly, isn't in the cards). bizjournals.com/washington/n… via @WBJonline
With the hype this story got I figured 2-3 more zeros…
NEW: For years, a group of Penn State frat brothers used the pledge system, hometown connections and the code of silence baked into Greek life to build out a drug ring that moved as much as $124,000 in cocaine.
Then someone snitched.
w @wongalum in @WSJ
wsj.com/us-news/penn-state-c…
Fucking brilliant. Why didn’t I think of that?!
Keeping your fridge and freezer closed is the best way to keep food fresh for as long as possible. - @nbcselected nbcnews.com/select/shopping/…
Operating performance may be good (no reason to think it’s not) but given what the boys are going through I can’t imagine a mezz piece on a self operated hotel is really “Low Risk”
So, @yenoms raises a very good point. This is almost certainly not a 4% LTV like it’s listed in the 10-Q
