Hospitality Properties Trust Prices $300 Million of Preferred Shares

February 15, 2007

NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today announced that it has priced a public offering of 12,000,000 shares of the company's Series C Cumulative Redeemable Preferred Shares for gross proceeds of $300 million. The Series C Preferred Shares have a liquidation preference of $25.00 per share and the offering is expected to close on February 21, 2007. HPT anticipates listing these shares on the New York Stock Exchange.

The distribution rate on the preferred shares will be 7% of the liquidation preference per year, or $1.75 per share per year. Distributions will be payable quarterly in arrears. HPT expects to use the net proceeds of this offering to repay a portion of the debt incurred to fund its recently completed acquisition of TravelCenters of America, Inc. The underwriters have been granted a 30-day option to purchase up to an additional 1,800,000 shares from HPT to cover overallotments, if any.

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

This press release 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 or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. 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 (telephone: 866-500-5408), from the offices of UBS Investment Bank, 677 Washington Blvd., Stamford, CT 06901 (telephone: 888-722-9555, ext. 1088), from the offices of Wachovia Securities, 8739 Research Drive, Charlotte, NC 28262 (telephone: 866-289-1262) 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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