Helix Partners backs Service Properties Trust's plan to sell 77 hotels
SVC•Helix Partners, Service Properties Trust's largest institutional shareholder, backed its plan to become a pure-play triple net lease REIT. The plan calls for selling 77 hotels starting in 2027, with substantially all sales completed by the end of 2028, and reducing leverage to no more than five times net debt to Adjusted EBITDA.
1. Hotel sale plan
Service Properties Trust said Helix Partners backed its transition to a pure-play triple net lease REIT. The plan calls for selling 77 retained hotels starting in 2027, with substantially all sold by the end of 2028. The sales aim to maximize shareholder value while reducing leverage to no more than five times net debt to Adjusted EBITDA.
