Hospitality Properties Trust Announces Underwriters' Exercise of Over Allotment Option

January 5, 2007

NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced today that the underwriters of its recent equity offering have exercised their over allotment option in full to purchase 1,800,000 additional common shares of beneficial interest. The sale price of these additional shares will be $47.51 per share, less an underwriting discount of $2.019 per share. The sale of the additional shares is expected to close today, January 5, 2007. The original public offering of 12,000,000 common shares closed on December 22, 2006.

The sole book running manager for this offering was Merrill Lynch & Co. The joint lead managers for this offering were Morgan Stanley, RBC Capital Markets, UBS Investment Bank and Wachovia Securities. The co-managers for this offering were Banc of America Securities LLC, Ferris, Baker Watts Incorporated, Janney Montgomery Scott LLC, Morgan Keegan & Company, Inc., Oppenheimer & Co. and Stifel Nicolaus.

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 any of the other managing underwriters identified above.

Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com

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