Service Properties Trust
svcreit.comWhat Do They Do?
Owns hotels where third-party managers provide lodging, food and drink services, and leases service-focused retail properties to businesses such as travel centers and restaurants.
10-K for FY2025, filed Feb 25, 2026As of December 31, 2025, we owned 94 hotels with 21,243 rooms or suites located in 31 states, the District of Columbia, Ontario, Canada and…View ↗
Principal Management Agreements. As of December 31, 2025, our 94 hotels were managed by subsidiaries of Sonesta, Hyatt Hotels Corporation…View ↗
Revenue Recognition. We report hotel operating revenues for managed hotels in our consolidated statements of comprehensive income (loss).…View ↗
As of December 31, 2025, we owned 760 service-focused retail net lease properties with an aggregate of 13,601,902 square feet. As of…View ↗
How Do They Make Money?
Hotel guests pay for rooms and food and drinks as those services are provided; tenants pay fixed rent monthly, quarterly or semi-annually under property leases.
10-K for FY2025, filed Feb 25, 2026
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$1.8B
-
10-K for FY2025, filed Feb 25, 2026
$1.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Net Lease
Recurring
10-K for FY2025, filed Feb 25, 2026 |
22%
FY2022: 21%
|
Net Lease, FY2025
$401.4M Sources
|
Recurring |
|
Hotels
Usage-based
10-K for FY2025, filed Feb 25, 2026 |
78%
FY2022: 79%
|
Hotels, FY2025
$1.4B Sources
|
Usage-based |
Who Are Their Customers?
Travel centers, restaurants, grocers and other businesses lease retail properties directly from the trust; third-party managers operate its hotels and serve lodging and dining guests.
10-K for FY2025, filed Feb 25, 2026As of December 31, 2025, we owned 760 service-focused retail net lease properties with an aggregate of 13,601,902 square feet. As of…View ↗
Lease Features. In general, our 760 net lease properties are subject to “triple net” leases where the tenant is generally responsible for…View ↗
Principal Management Agreements. As of December 31, 2025, our 94 hotels were managed by subsidiaries of Sonesta, Hyatt Hotels Corporation…View ↗
Revenue Recognition. We report hotel operating revenues for managed hotels in our consolidated statements of comprehensive income (loss).…View ↗
Do Revenues Turn Into Profits?
No. It lost $202.3M in FY2025.
10-K for FY2025, filed Feb 25, 2026
10-K for FY2025, filed Feb 25, 2026
−$202.3MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$223.8MView ↗
- ▲ +487% (Loss)
- vs −$38.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 21% in 4 years, from $1.5B in FY2021 to $1.8B in FY2025, about 5% a year.
Strategic focus
The earlier report foregrounded improving hotel operators' performance in its growth strategy; the latest centers growth on expanding service-focused retail net leases, alongside better performance at hotels it retains.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 25, 2026We seek to have a geographically diverse portfolio of real estate primarily in the United States. Our principal internal growth strategy is…View ↗
Our current strategy is focused on reducing debt, transitioning to a company with the majority of its properties being service-focused…View ↗
Loading...
