NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today
announced that it has priced an offering of $300 million of 5.125%
Senior Notes due 2015 in an underwritten public offering. The settlement
of this sale is expected to occur on February 15, 2005.
The offering was originally marketed for $200 million, but HPT and
the underwriters determined to increase the offering to $300 million in
response to investor interest.
The joint book running managers for the offering are Wachovia Capital
Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated,
and RBC Dain Rauscher Inc. The co-managing underwriters for this
offering are Advest, Inc.; Banc of America Securities LLC; BB&T
Capital Markets, a division of Scott & Stringfellow, Inc.; Calyon
Securities (USA) Inc.; Citigroup Global Markets Inc.; Commerzbank
Capital Markets Corp.; Deutsche Bank Securities Inc.; Ferris, Baker
Watts, Incorporated; Harris Nesbitt Corp.; J.J.B. Hilliard, W.L. Lyons,
Inc.; KeyBanc Capital Markets, a Division of McDonald Investments Inc.;
Legg Mason Wood Walker, Incorporated; Morgan Keegan & Co., Inc.;
Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Scotia Capital
(USA) Inc.; Stifel, Nicolaus & Company, Incorporated; SunTrust
Capital Markets, Inc.; Wedbush Morgan Securities Inc.; and Wells Fargo
Securities, LLC.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which the offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of that state. The senior notes will be issued pursuant to an
effective shelf registration statement that was previously filed with
the Securities and Exchange Commission. A prospectus supplement relating
to the offering will also be filed with the Securities and Exchange
Commission. Offers for the securities will be made only by means of the
prospectus supplement and accompanying prospectus. An electronic copy of
the preliminary prospectus supplement and accompanying prospectus may
be obtained from the offices of Wachovia Securities, One Wachovia
Center, 301 South College Street, Charlotte, NC, 20288; Merrill Lynch
& Co., 4 World Financial Center, New York, New York 10080; or RBC
Capital Markets, One Liberty Plaza, 165 Broadway, New York, New York
10006.
Hospitality Properties Trust is a real estate investment trust, or
REIT, which owns 285 hotels located in 38 states. HPT is headquartered
in Newton, Massachusetts.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THE FOREGOING PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
THE FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED
UPON HPT'S PRESENT BELIEFS AND EXPECTATIONS BUT THEY MAY NOT OCCUR. FOR
EXAMPLE, THIS PRESS RELEASE STATES THAT THE SETTLEMENT IS EXPECTED TO
OCCUR ON FEBRUARY 15, 2005. IN FACT, THE SETTLEMENT OF THIS NOTES
ISSUANCE IS GOVERNED BY AN UNDERWRITING AGREEMENT AND THAT AGREEMENT
INCLUDES CONDITIONS WHICH MAY DELAY OR PREVENT SETTLEMENT, SUCH AS
CLOSURE OF MARKETS FOLLOWING A TERRORIST ATTACK OR OTHERWISE. INVESTORS
ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING
STATEMENTS IN THIS PRESS RELEASE.
Hospitality Properties Trust,
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com