NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced
today that it has priced a public follow-on offering of 4,500,000 common
shares of beneficial interest at a price of $44.39 per share. The
settlement of this sale is expected to occur on June 8, 2005. HPT
expects to use the net proceeds of the offering to reduce amounts
outstanding on its unsecured revolving bank credit facility. The
underwriters have been granted a 30-day option to purchase up to an
additional 675,000 shares from HPT to cover overallotments, if any.
The joint book running managers for this offering are Merrill Lynch
& Co. and Wachovia Securities. The joint lead managers for this
offering are Morgan Stanley, RBC Capital Markets and UBS Investment
Bank. The co-managers for this offering are Legg Mason Wood Walker,
Incorporated, Ferris, Baker Watts, Incorporated and Stifel, Nicolaus
& Company, Incorporated.
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. Copies of the prospectus supplement and related
prospectus may be obtained from the offices of Merrill Lynch & Co., 4
World Financial Center, New York, New York 10080 or from the offices of
Wachovia Securities, Attn: Prospectus Department, 7 St. Paul Street,
1st Floor, Baltimore, Maryland 21202 or from the offices of any of the
managing underwriters identified above.
Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com