NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced today
that it has priced a public follow-on offering of 2,000,000 common
shares of beneficial interest at a price of $43.66 per share. The
settlement of this sale is expected to occur on July 26, 2006. HPT
expects to use the proceeds of the offering to repay amounts outstanding
on its unsecured revolving bank credit facility and for general
corporate purposes. The underwriters will be granted a 30-day option to
purchase up to an additional 300,000 shares from HPT to cover
overallotments, if any.
The joint book running managers for this offering are Merrill Lynch
& Co. and Wachovia Securities. The joint lead managers for this
offering are RBC Capital Markets and UBS Investment Bank. The
co-managers for this offering are Ferris, Baker Watts Incorporated,
Janney Montgomery Scott LLC, KeyBanc Capital Markets, 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 Wachovia Securities, Attn: Prospectus Department, 375
Park Avenue, New York, NY 10152 or from the offices of any of the other
managing underwriters identified above.
Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com