HPT Announces Quarterly Common Dividend And Election of New Officers

October 1, 2002

Newton, MA (October 1, 2002): Hospitality Properties Trust (NYSE: HPT) today announced a regular quarterly dividend of $0.72 per common share ($2.88 per share per year). This dividend is based upon the operating results for the quarter ended September 30, 2002. This regular quarterly dividend will be paid to common shareholders of record as of the close of business on October 25, 2002, and distributed on or about November 21, 2002. 

HPT simultaneously announced that Thomas M. O’Brien has been promoted to become the Executive Vice President. Mr. O’Brien has served as HPT’s Treasurer and CFO since 1996. 

HPT also announced that its Board of Trustees has elected Mark L. Kleifges, age 42, as its new Treasurer and Chief Financial Officer. Mr. Kleifges will replace Mr. O’Brien in those positions. Mr. Kleifges is a certified public accountant and has been a vice president of Reit Management and Research, LLC, the investment manager of HPT, since May 2002. Prior to May 2002 Mr. Kleifges was a partner for nine years in the Real Estate and Hospitality Services Group of Arthur Andersen LLP. 

Hospitality Properties Trust is a real estate investment trust headquartered in Newton, MA. HPT currently has investments of approximately $2.7 billion in 251 hotels located in 37 states.

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