NEWTON, Mass.--(BUSINESS WIRE)--
On February 27, 2013, Hospitality Properties Trust (NYSE: HPT) announced
that it had entered a letter of intent ("LOI") and exclusive negotiating
period with respect to a possible transaction involving an investment of
approximately $375 million in ten hotels in Europe, New York and Latin
America currently operated by NH Hoteles SA (BME: NHH) (NYSE: NHHEY
(ADRs)). On April 24, 2013, HPT was notified by NHH that NH Hoteles was
unable to obtain the necessary bank approvals to allow it to move
forward with the transaction as outlined in the LOI. HPT expects to
enter into discussions with NH Hoteles about possible modifications or
alternatives to the transaction originally announced, but at this time
the outcome of any such discussions is uncertain.
Hospitality Properties Trust is a real estate investment trust, or REIT,
which owns or leases hotels and travel centers located in 44 states,
Puerto Rico and Canada. HPT is headquartered in Newton, Massachusetts.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange.
No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
For Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
Vice
President, Investor Relations,
or
Carlynn Finn
Senior
Manager, Investor Relations.