Service Properties Trust
Service Properties Trust is a publicly traded Maryland REIT that owns 761 service-focused retail net lease properties and 93 hotels across the U.S., Puerto Rico, and Canada, generating revenue from net lease rentals and hotel operations under brands including Sonesta, Hyatt, and Radisson.
- Company typePublic
- Founded2002
- HeadquartersNewton, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Service Properties Trust does
Service Properties Trust (Nasdaq: SVC) is a Maryland-domiciled real estate investment trust that owns and operates two distinct asset categories: service-focused retail net lease properties and hotels. As of March 31, 2026, the company had approximately $9.9 billion invested in 761 service-focused retail net lease properties encompassing over 13.6 million square feet, and 93 hotels with over 21,000 guest rooms. The portfolio is geographically diversified across 46 states, Washington D.C., Puerto Rico, and Canada, with 189 tenants/operators across 149 brands and 22 industries. Key tenants and operators include TravelCenters of America (travel center net leases), Sonesta International Hotels, Hyatt, and Radisson Hotels. SVC also maintains an approximately 34% equity stake in Sonesta Holdco Corporation.\n\nThe company generates revenue through two streams: net lease rental income from service-focused retail properties (including travel centers, fitness centers, and other service-oriented retail), and hotel operating revenues from owned hotels operated by third-party brands. Net lease arrangements provide stable, long-term, contractually committed cash flows while the hotel portfolio provides exposure to hospitality sector dynamics. SVC is externally managed by The RMR Group (Nasdaq: RMR), a $37B+ AUM alternative asset manager, under a shared-services structure that the company cites as a cost advantage relative to self-managed peers. The company is led by President and CEO Christopher Bilotto and CFO Brian Donley, is headquartered in Newton, Massachusetts, and pays a quarterly cash distribution of $0.05 per share (post the five-for-one reverse share split effective July 2026).\n\nService Properties Trust was founded in 2002 as Hospitality Properties Trust, a hotel-focused REIT, and rebranded to Service Properties Trust in 2006 as it broadened its strategy to include service-focused retail net lease assets. The company is publicly traded on Nasdaq and reaches investors through quarterly earnings calls, SEC filings, investor conferences (including Nareit's REITweek), and underwritten public offerings. In early 2026, SVC executed significant refinancing activities, including a $500 million equity offering, a $745 million net lease mortgage securitization, full redemption of $700 million 8.375% senior notes due 2029, and redemption of $550 million senior notes due 2027, generating approximately $14 million in annual cash interest savings.
Service Properties Trust firmographics
Firmographics- Name
- Service Properties Trust
- Legal name
- Service Properties Trust
- Website
- https://svcreit.com
- Company type
- Public
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Service Properties Trust is a publicly traded Maryland REIT that owns 761 service-focused retail net lease properties and 93 hotels across the U.S., Puerto Rico, and Canada, generating revenue from net lease rentals and hotel operations under brands including Sonesta, Hyatt, and Radisson.
- Ownership category
- akta.pro rank
Service Properties Trust industry classification
Industry- Product category
- Hospitality and Net Lease REIT
- NAICS
- Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312)
- SIC
- Real Estate Investment Trusts (6798), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)
- akta.pro primary industry
- Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)
Keywords
Where Service Properties Trust is headquartered
LocationHeadquarters
- HQ city
- Newton
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Service Properties Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Others
Revenue model
- Net Lease Rental Income: Rental income from service-focused retail net lease properties. Properties include travel centers, fitness centers, and other service-oriented retail located throughout the United States. Long average lease terms provide stable, predictable cash flows.
- Hotel Operating Revenues: Hotel operating revenues from owned hotels. Hotels are operated primarily by Sonesta International, Hyatt, and Radisson. Revenue includes room rentals, food and beverage, and other hotel services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Regular quarterly cash distribution on common shares |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Service Properties Trust product offering
Product offeringCore offering
Service Properties Trust owns and leases a service-focused retail net lease portfolio of 761 properties covering over 13.6 million square feet, and owns a hotel portfolio of 93 properties with more than 21,000 guest rooms operated by Sonesta International, Hyatt, and Radisson. The company generates rental income from net lease tenants and hotel operating revenues from its branded and managed hospitality properties.
Product overview
Service Properties Trust is a real estate investment trust (REIT) with a dual-asset portfolio strategy. The company operates two core product lines: (1) service-focused retail net lease properties (761 properties, 13.6+ million sq ft) offering defensive, long-lease-term exposure to service-based retail concepts including travel centers, and (2) a hotel portfolio (93 hotels, 21,000+ rooms) spanning midscale to luxury properties operated by major hospitality brands. The portfolio is geographically diversified across 46 states, Puerto Rico, and Canada, with 189 tenants/operators across 149 brands and 22 industries. SVC is externally managed by The RMR Group (Nasdaq: RMR).
Differentiator
Problem solved
Functional benefit
Products and services
- Service-Focused Retail Net Lease Properties 761 service-focused retail net lease properties totaling over 13.6 million square feet across the United States, leased to tenants such as TravelCenters of America for travel centers and other service-oriented retail businesses. The properties operate under long-term net lease structures providing stable, predictable rental income with low capital expenditure requirements.
- Hotel Portfolio Portfolio of 93 hotels with over 21,000 guest rooms throughout the United States, Puerto Rico, and Canada, ranging from midscale to upscale select service, extended stay, and upscale to luxury full service hotels. Hotels are operated by Sonesta International, Hyatt Corporation, and Carlson Hotels Worldwide under the Radisson, Country Inn & Suites, and Park Plaza brands.
Quantifiable outcome
- $14 million expected annual cash savings from securitization refinancing
Companies that use Service Properties Trust
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Service Properties Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Service Properties Trust partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- The RMR Group (Nasdaq: RMR)coreThe RMR Group acts as the external manager of Service Properties Trust, providing management services including asset management, property management, and administrative services. RMR is a leading U.S. alternative asset management company with over $37 billion in assets under management as of March 31, 2026, and 40 years of institutional experience in buying, selling, financing and operating commercial real estate.
- Sonesta International HotelscoreHotels primarily operated by Sonesta International, one of the fastest growing hotel brands in the U.S. SVC also owns approximately 34% of the shares of Sonesta Holdco Corporation.
- Hyatt HotelscoreHotels operated by Hyatt Corporation under management agreements. Hyatt is one of the major hotel operators in SVC's portfolio.
- Radisson HotelscoreHotels operated by Carlson Hotels Worldwide under Radisson brand, Country Inn & Suites, and Park Plaza brands as part of management agreements.
- TravelCenters of America Inc.majorSVC's net lease portfolio includes travel centers leased to TravelCenters of America Inc. pursuant to master lease agreements. 34 travel center properties are included in SVC's TA Lease No. 1.
Scale indicators7 records
Recent moves12 records
Expansion highlights4 records
Service Properties Trust competitors and assessment
Company assessmentDirect peers
- RLJ Lodging Trust: U.S. hotel REIT (NYSE: RLJ) focused on premium-branded, focused-service and compact full-service hotels. Comparable in size, brand strategy, and select-service orientation to SVC.
- DiamondRock Hospitality Company: U.S. lodging REIT (NASDAQ: DRH) with a portfolio of branded hotels in urban and resort markets. Closely comparable branded-hotel operating model to SVC's Hyatt, Radisson, and Sonesta-operated properties.
- Apple Hospitality REIT: U.S. hotel REIT (NYSE: APLE) concentrated in upscale select-service and extended-stay rooms under Marriott and Hilton brands. Highly comparable operating model and brand mix to SVC's select-service hotels.
- Host Hotels & Resorts: Largest U.S. lodging REIT (NASDAQ: HST) focused on luxury and upper-upscale hotels operated by major brands. Closest direct peer to SVC's 93-hotel, brand-managed portfolio.
- Pebblebrook Hotel Trust: U.S. lodging REIT (NYSE: PEB) focused on urban and resort upper-upscale hotels. Comparable in brand-affiliated operating structure and urban/lifestyle exposure to SVC's hotel book.
- Park Hotels & Resorts Inc. Pure-play U.S. hotel REIT (NYSE: PK) spun out from Hilton. Directly comparable to SVC's hotel portfolio in scale, brand mix, and operational exposure to U.S. lodging demand.
- Ryman Hospitality Properties: U.S. lodging REIT (NYSE: RHP) owning large-group-oriented hotels under the Gaylord brand. Adjacent comparable to SVC's full-service and group-oriented hotel exposure.
Broad incumbents
- Realty Income Corporation: Largest U.S. net lease REIT (NYSE: O) with thousands of single-tenant properties across service and retail. Broadly comparable net lease business model to SVC's 761-property service-retail portfolio.
- National Retail Properties: U.S. net lease REIT (NYSE: NNN) focused on single-tenant retail properties. Comparable long-lease-term net lease structure to SVC's service-focused retail net lease book, though SVC skews more toward service than traditional retail.
- W. P. Carey Inc. Diversified net lease REIT (NYSE: WPC) with industrial, retail, and office properties under long-term leases. Comparable diversified net lease strategy to SVC's broad service-retail book.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights6 records
Customer concentration
Service Properties Trust social profiles
Digital presenceService Properties Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Service Properties Trust leadership team
Management profileNumber of profiles
Profiles4 records
Service Properties Trust subsidiaries and ownership
Company hierarchySubsidiaries4 records
Service Properties Trust funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Service Properties Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Service Properties Trust
What does Service Properties Trust do?
Service Properties Trust owns and leases a service-focused retail net lease portfolio of 761 properties covering over 13.6 million square feet, and owns a hotel portfolio of 93 properties with more than 21,000 guest rooms operated by Sonesta International, Hyatt, and Radisson. The company generates rental income from net lease tenants and hotel operating revenues from its branded and managed hospitality properties.
Is Service Properties Trust a public or private company?
Service Properties Trust is a public company. It is classified as public and is currently operating.
When was Service Properties Trust founded?
Service Properties Trust was founded in 2002. It employs 501 to 1,000 people.
Where is Service Properties Trust based?
Service Properties Trust is headquartered in Newton, United States, in the North America region.
How does Service Properties Trust make money?
Two revenue lines are on record. Net Lease Rental Income is the primary driver. The others are hotel Operating Revenues.
Who are Service Properties Trust's main competitors?
Direct peers on record are RLJ Lodging Trust, DiamondRock Hospitality Company, Apple Hospitality REIT, Host Hotels & Resorts, Pebblebrook Hotel Trust, Park Hotels & Resorts Inc. and Ryman Hospitality Properties. Broad incumbents are Realty Income Corporation, National Retail Properties and W. P. Carey Inc..
Does Service Properties Trust have an API?
No public API is recorded for Service Properties Trust.
What industry is Service Properties Trust in?
Service Properties Trust's product category is Hospitality and Net Lease REIT. Its primary akta.pro industry code is BPAJAMAE, Hospitality (Hotels & Resorts) Asset Management. Its NAICS code is 531120 and its SIC code is 6798.