NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced
today that it has commenced a public offering of 12,000,000 common
shares of beneficial interest. HPT expects to use the proceeds to
partially fund the acquisition of TravelCenters of America, Inc., and
for general corporate purposes. The underwriters will be granted a
30-day option to purchase up to an additional 1,800,000 shares from HPT
to cover overallotments, if any.
The sole book running manager for this offering is Merrill Lynch
& Co. The joint lead managers for this offering are Morgan Stanley,
RBC Capital Markets, UBS Investment Bank and Wachovia Securities. 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 communication 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 in which the offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of that state. Copies of the preliminary prospectus supplement and
related prospectus may be obtained from the offices of Merrill Lynch
& Co., 4 World Financial Center, New York, New York 10080 or from
the offices of any of the other managing underwriters identified above.
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE
FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
HPT'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS
OF THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS
RELEASE REFERS TO AN OFFERING OF 12,000,000 HPT COMMON SHARES BY HPT,
MORE OR LESS THAN 12,000,000 COMMON SHARES MAY BE SOLD OR THIS OFFERING
MAY BE WITHDRAWN, DEPENDING UPON MARKET CONDITIONS OR FOR SOME OTHER
REASON. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING
STATEMENTS.
Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com