Leadership & Governance

Ms. Fraiche has been an Independent Trustee of Service Properties Trust (Nasdaq: SVC) since 2015 and is the Board’s Lead Independent Trustee. She is founder and member of Fraiche strategies. Previously, Ms. Fraiche served as Senior Counsel at the law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. where she practiced law in the firm’s Health Law and Public Policy departments. Previously, she practiced law at the firm now known as Locke Lord LLP. Among numerous other business and civil leadership positions, Ms. Fraiche serves as a member of the Investment Committee of the Baton Rouge Area Foundation, Treasurer of the Louisiana Consular Corps and Honorary Consul for Japan in New Orleans. She previously served as President of the Louisiana Chapter of the International Women’s Forum, President of the Supreme Court of Louisiana Historical Society, Member of the Leadership Development Committee and Committee on Governance of the American Hospital Association, President and a Fellow of the American Health Law Association, Chair of the Louisiana Health Care Commission, Chair of the Board of Trustees of Loyola University, and Chair and Member of the Board of Finance, Real Estate and Compensation Committees of Women’s Hospital. Ms. Fraiche also serves on the Board of Office Properties Income Trust (Nasdaq: OPI).

Ms. Burns has been an Independent Trustee of Service Properties Trust (Nasdaq: SVC) since 2020 and is Chair of the Board's Compensation Committee. She is Chief Executive Officer of LBB Growth Partners, which she founded in 2017. From 1999 to 2001, Ms. Burns held various senior leadership positions with specialty restaurant group Darden Restaurants, Inc., including Senior Vice President and Chief Development Officer, Senior Vice President for Specialty Realty Group Strategic Platform and Development and President of Bahama Breeze Island Grill. Previously, she held leadership positions with Homestead Village, an extended stay hotel company, and Taco Bell. Ms. Burns has served on the Boards of the Darden Foundation, The First Tee of Central Florida and the City of Orlando Historic Preservation Board. She is currently an advisory board member of Salon Lofts.

Mr. Cramer has been an Independent Trustee of Service Properties Trust (Nasdaq: SVC) since 2020 and is Chair of the Board's Nominating and Governance Committee. Since 2019 he has served as Managing Partner of Riparian Partners, LLC, a middle market M&A advisory firm in Providence, RI. Mr. Cramer also serves as Adjunct Finance Professor at Boston College’s Carroll School of Management, teaching undergraduate and graduate business school students. Previously, he was Managing Director and Head of the Financial Institutions and Real Estate Group for Oppenheimer and Co. Inc. as well as Managing Director, Financial Services Group for RBC Capital Markets, LLC. Additionally, Mr. Cramer has served as an investment banking executive with Tucker Anthony Sutro Corporation, Citicorp LLC and Union Bank/Standard Charter Bank.

Mr. Lamkin has been an Independent Trustee of Service Properties Trust (Nasdaq: SVC) since 2007 and is Chair of the Board's Audit Committee. Mr. Lamkin was a Partner in Ackrell Capital LLC, a San Francisco based investment bank, from 2003 to 2019. Previously, he was a financial consultant and an investment banker and served as a Senior Vice President in the investment banking division of ABN AMRO. Prior to working as a financial consultant and as an investment banker, he was a practicing attorney. Mr. Lamkin also serves as an Independent Trustee on the Boards of Office Properties Income Trust (Nasdaq: OPI) and Seven Hills Realty Trust (Nasdaq: SEVN).

Mr. Penkar has been an Independent Trustee of Service Properties Trust (Nasdaq: SVC) since 2023. He has served as President and Founder of Supply Chain Advisory Services, LLC, which provides e-commerce and omni-channel supply chain design and optimization services to retailers, since 2014. From 2011 to 2014, Mr. Penkar served as Senior Vice President and President, Supply Chain, for Sears Holding Corporation, an integrated retailer. Before joining Sears Holding Corporation, he held various positions of increasing responsibility with United Parcel Service, Inc. from 1987 to 2011, most recently serving as President, UPS Customer Solutions. Mr. Penkar holds a certificate in cybersecurity oversight from Carnegie Mellon University and the National Association of Corporate Directors. His experience also includes having previously served on the Board of Directors of U.S. Concrete, Inc, USA Truck Inc. and TravelCenters of America Inc.

Mr. Portnoy has been a Managing Trustee of Service Properties Trust (Nasdaq: SVC) since 2007 and Chair of the Board since 2019.  Mr. Portnoy is currently President and Chief Executive Officer of The RMR Group (Nasdaq: RMR) and is Chair of the RMR Executive Operating Committee.  He also serves as Chair of the Boards of RMR’s client companies, including: Diversified Healthcare Trust (Nasdaq: DHC), Office Properties Income Trust (Nasdaq: OPI), Industrial Logistics Properties Trust (Nasdaq: ILPT), Seven Hills Realty Trust (Nasdaq: SEVN), AlerisLife Inc. (Private), Sonesta International Hotels Corporation (Private) and Tremont Realty Capital, an SEC registered investment adviser.   

Prior to joining RMR in 2003, he held various positions in the finance industry and public sector, including working as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, working in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners, as well as serving as Chief Executive Officer of a telecommunications company.  Mr. Portnoy currently serves as Chair of the Board of Directors of the Pioneer Institute, as a member of the executive committee of the Board of Directors of the Greater Boston Chamber of Commerce, as a member of the Board of Directors of the Massachusetts Opportunity Alliance, as a member of the Board of Directors of the Massachusetts High Technology Council and as the Honorary Consul General of the Republic of Bulgaria to the Commonwealth of Massachusetts. He is formerly a member of the Board of Trustees of Occidental College and the Board of Governors of the National Association of Real Estate Investment Trusts (Nareit).

Mr. Bilotto has been a Managing Trustee, President and Chief Executive Officer of Service Properties Trust (Nasdaq: SVC) since 2025. He is also Executive Vice President of The RMR Group (Nasdaq: RMR) and a member of the RMR Executive Operating Committee. He is responsible for acquisitions, asset management for all hotel and senior living properties, as well as development and redevelopment across the U.S. Mr. Bilotto is also a Managing Trustee, President and Chief Executive Officer of Diversified Healthcare Trust (Nasdaq: DHC).  He previously served in various leadership roles of RMR and its client companies. Prior to joining RMR in 2011, he worked at General Growth Properties (NYSE: GGP) in various management roles for shopping malls and mixed-use assets in New Mexico, Arizona and California. Mr. Bilotto has 20 years of experience working in the commercial real estate industry, specializing in asset management, leasing and development. He is an active member of the National Association of Office and Industrial Properties.