Hospitality Properties Trust Announces Annual Meeting Results

NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (NYSE: HPT) announced the results of its annual meeting held earlier this week, as follows:

Shareholders approved by the required share votes a non-binding ratification of the appointment of Ernst & Young LLP as the Trust’s independent registered public accounting firm.

A non-binding advisory resolution to approve the compensation paid to the Trust’s named executive officers was approved by the required share votes of shareholders.

A non-binding shareholder proposal by UNITE HERE that any future election by the Trust to opt-in to provisions of the Maryland Unsolicited Takeovers Act should not be made without shareholders’ prior approval was approved by a majority of the share votes cast.

Donna D. Fraiche and William A. Lamkin, the Independent Trustee nominees, and Adam D. Portnoy, the Managing Trustee nominee, each received less than the majority of share votes for their election and each offered to resign. Thereafter, the Trust’s Nominating and Governance Committee and the Trust’s Board met and considered, among other things, that applicable Securities and Exchange Commission rules, New York Stock Exchange listing requirements and the Trust’s governing documents require that the Trust have a majority of Independent Trustees and at least two Managing Trustees and that each of Ms. Fraiche, Mr. Lamkin and Mr. Portnoy had in the past provided high quality services as Trustees. Based upon these considerations and others, the Nominating and Governance Committee recommended and the Board then decided to decline the offered resignations and confirmed that Donna D. Fraiche and William A. Lamkin, will continue to serve as an Independent Trustees and Adam D. Portnoy will continue to serve as a Managing Trustee, each until the next scheduled elections or until a successor qualifies.

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.

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
www.hptreit.com

Source: Hospitality Properties Trust