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Industry Diversification (1)

Industry No. of
Properties
Rooms/
Square Footage
Investments Percent of Total
Investment
1. Hotels 94 21,243 $4,813,967 48.6%
2. Travel Centers 178 5,099,794 3,311,787 33.4%
3. Restaurants - Quick Service 211 651,136 293,030 3.0%
4. Restaurants - Casual Dining 59 505,374 208,582 2.1%
5. Health and Fitness
15 969,041 204,027 2.1%
6. Movie Theaters 14 747,904 134,478 1.4%
7. Grocery Stores 19 1,020,819 129,152 1.3%
8. Automotive Equipment and Services 64 463,492 107,341 1.1%
9. Medical, Dental Office 70 372,171 104,042 1.1%
10. Home Goods and Leisure 14 542,666 98,242 1.0%
11. Automotive Dealers 8 177,433 62,656 0.6%
12. General Merchandise Stores  4 381,193 55,457 0.6%
13. Entertainment
3 164,113 51,473 0.5%
14. Educational Services  6 139,140 37,730 0.4%
15. Car Washes 7 55,951 36,125 0.4%
16. Building Materials 29 465,283 34,006 0.3%
17. Sporting Goods 4 184,255 29,367 0.3%
18. Miscellaneous Manufacturing 5 538,932 24,355 0.2%
19. Dollar Stores 7 72,052 10,253 0.1%
20. Drug Stores and Pharmacies 3 32,036 9,699 0.1%
21. Legal Services 3 17,029 7,609 0.1%
22. Other 11 281,944 66,061 0.5%
23. Vacant 26 720,144 77,676 0.8%
Total 854 21,423 / 13,601,902 $9,907,115 100%

(1) As of December 31, 2025 (dollars in thousands, except per room or suite data).

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