A Newton, Massachusetts-based REIT is continuing to sell off more of its assets to pay down its debts.

Service Properties Trust announced it closed on the sale of 66 hotels totaling 8,294 keys for $534M. SVC has sold 112 hotels totaling 14,631 keys for a total of $859M in 2025.

The sales are part of the REIT's shift to more full-service, urban and leisure-oriented properties in strong markets.

SVC aims to sell two additional hotels for $12M, with one sale expected to close by the end of the year and the other by January.

Another $88M deal for seven hotels fell through, but the REIT now says it hopes to market the properties for projected proceeds of $90M to $110M.

The disposition comes as SVC faces $5.8B in debt coming due within the next five years. On top of the sales, it also paid $300M toward its $400M of outstanding unsecured senior notes due in February 2027.

SVC has faced some post-pandemic headwinds, as the company's revenue declined 18% from 2019 to 2024.

The REIT has more than $10B invested in retail and hotel properties. As of Sept. 30, it owned 752 retail net lease properties totaling more than 13.1M SF throughout the U.S.

Outside of its sales, the REIT has 17 Hyatt Place, five Radisson Hotel & Resorts, two Country Inns & Suites by Radisson, and one Crowne Plaza.

SVC is managed by The RMR Group, which also manages Diversified Healthcare Trust, Office Properties Income Trust, Industrial Logistics Properties Trust and Seven Hills Realty Trust.