Service Properties Trust just issued 417 million new shares at $1.20 each to raise $500 million it needs to cover debt coming due in 2027. If you've ever watched a REIT try to outrun its own capital structure, you know how this movie ends.
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Mar 16
A wave of executive reshuffles at IHG, Accor, and Langham looks like business as usual... until you pair it with Ashford's CFO retiring mid-fire-sale and a $69M Tribeca trade that tells you more about where this market is heading than any earnings call.
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