Service Properties Trust’s 2025 annual report said it ended the year with 760 net lease properties across 42 states and 94 hotels in 31 states plus locations in Washington, D.C., Ontario, Puerto Rico and San Juan. The company said it sold 112 hotels during 2025 and acquired 29 net lease properties as it works to rebalance its portfolio. It reported its net lease portfolio was occupied by 181 tenants with a weighted average lease term of 7.4 years. The report said the company’s largest tenant, TravelCenters of America, leases 175 travel centers under master leases that expire in 2033.
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