
Service Properties Sells Eight Hotels in Strategic Move

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Service Properties Trust (SVC) announced the sale of eight hotels, part of a strategy to sell 113 hotels for $913.3 million by end of 2025. Proceeds will repay debt, despite a buyer contesting an agreement for seven hotels. SVC aims to become a majority net lease REIT, improving its balance sheet and reducing leverage. Analysts rate SVC stock as Hold with a $1.50 target, noting financial challenges despite positive debt management and asset sales.
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