Hospitality Properties Trust Prices $750 Million of Unsecured Senior Notes

NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (NYSE: HPT) today announced that it has priced underwritten public offerings of $400 million of 4.25% unsecured senior notes due February 15, 2021 and $350 million of 5.25% unsecured senior notes due February 15, 2026. The settlement of these offerings is expected to occur on February 3, 2016, subject to customary closing conditions.

HPT expects to use the net proceeds from these offerings to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes.

The joint book-running managers for these offerings were Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC, UBS Securities LLC, BBVA Securities Inc., Mizuho Securities USA Inc., PNC Capital Markets LLC and Regions Securities LLC. The joint lead managers for these offerings were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC. The co-managers for these offerings were BB&T Capital Markets, a division of BB&T Securities, LLC, SMBC Nikko Securities America, Inc., Fifth Third Securities, Inc., FTN Financial Securities Corp., Oppenheimer & Co. Inc. and U.S. Bancorp Investments, Inc.

This press release shall not constitute an offer to sell or a 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 relating to these offerings and the related prospectus may be obtained by contacting the offices of: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department at 222 Broadway, New York, NY 10038, or by email at [email protected]; RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, New York, NY 10281, Attn: Debt Capital Markets or by calling (866) 375-6829 or by emailing [email protected]; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (888) 827-7275.

Hospitality Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada. HPT's properties are operated under long term management or lease agreements. HPT is managed by the operating subsidiary of The RMR Group Inc. (NASDAQ: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HPT'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:

• THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON FEBRUARY 3, 2016. THE SETTLEMENT OF THESE OFFERINGS IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THESE OFFERINGS MAY NOT CLOSE.

• HPT'S CURRENT INTENT TO REPAY AMOUNTS OUTSTANDING UNDER ITS UNSECURED REVOLVING CREDIT FACILITY WITH THE NET PROCEEDS OF THESE OFFERINGS IS DEPENDENT ON THE CLOSING OF THESE OFFERINGS AND MAY NOT OCCUR.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

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.

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Hospitality Properties Trust
Katie Strohacker, 617-796-8232
Senior Director, Investor Relations

Source: Hospitality Properties Trust