SVC names Hargreaves president

Service Properties Trust (SVC) has appointed Todd Hargreaves as president/chief investment officer, effective April 1.

He succeeds John Murray, who is becoming president/CEO, Sonesta International Hotels Corporation, on that same day.

Hargreaves has served as VP of SVC since 2019 and as VP/chief investment officer, SVC since 2020. He is also SVP of The RMR Group, responsible for all real estate and real estate-related acquisitions at RMR. Prior to joining RMR in 2010, he worked at AIG Investments, where he was responsible for commercial real estate loan origination and asset management. He has more than 15 years of experience working in the commercial real estate industry, specializing in acquisitions, dispositions and underwriting.

Adam Portnoy, an SVC managing trustee and managing director/president/CEO, RMR, made the following statement:

“During the past three years as part of SVC’s senior management and in more than a decade at RMR, Todd has proven to be a strategic and analytical thinker, with a primary role in determining capital allocation decisions at SVC and RMR. Todd led the successful acquisition of SVC’s $2.4-billion net lease service portfolio in 2019 and, more recently, is responsible for SVC’s current hotel disposition plan that SVC expects, when completed in the next few months, will realize over $560 million of sales. Looking forward, Todd has the board’s confidence to strengthen the portfolio and deliver strong long-term operating performance for SVC.”