NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced
today that it has priced a public offering of 12,000,000 common shares
of beneficial interest at a price of $47.51 per share. The settlement of
this sale is expected to occur on December 22, 2006. HPT expects to use
the proceeds to partially fund the acquisition of TravelCenters of
America, Inc. and for general corporate purposes. The underwriters have
been 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 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.
For Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com