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Industry Diversification (1)

Industry No. of
Properties
Rooms/
Square Footage
Investments Percent of Total
Investment
1. Hotels 160 29,536 $5,694,425 53.0%
2. Travel Centers 178 5,099,794 3,311,787 30.8%
3. Restaurants - Quick Service 211 651,006 293,499 2.7%
4. Restaurants - Casual Dining 56 503,260 198,586 1.8%
5. Health and Fitness
14 924,041 196,097 1.8%
6. Movie Theatres 14 747,904 134,474 1.3%
7. Grocery Stores 19 1,020,819 129,152 1.2%
8. Automotive Equipment & Services 64 463,492 107,141 1.0%
9. Medical, Dental Office 70 372,171 104,042 1.0%
10. Home Goods and Leisure 14 542,666 98,242 0.9%
11. Automotive Dealers 8 177,433 62,656 0.6%
12. General Merchandise Stores  4 381,193 55,457 0.5%
13. Entertainment
3 164,113 51,473 0.5%
14. Educational Services  7 159,793 44,820 0.4%
15. Car Washes 7 55,951 36,125 0.3%
16. Building Materials 29 465,283 34,006 0.3%
17. Miscellaneous Manufacturing 5 538,932 24,355 0.2%
18. Sporting Goods 3 120,847 18,548 0.2%
19. Legal Services 5 25,429 11,362 0.1%
20. Dollar Stores 7 72,052 10,164 0.1%
21. Drug Stores and Pharmacies 3 32,036 9,699 0.1%
22. Other 11 281,944 66,054 0.7%
23. Vacant 20 385,794 57,937 0.5%
Total 912 29,536 / 13,185,953 $10,750,101 100%

(1) As of September 30, 2025 (dollars in thousands, except per room or suite data).

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