Hospitality Properties Trust Completes Acquisition of TravelCenters of America Real Estate and Spin Off of TravelCenters' Operating Business

January 31, 2007

NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today announced that it completed its acquisition of TravelCenters of America, Inc. and the spin off to HPT shareholders of the TravelCenters operating business.

HPT common shares are expected to begin trading on the New York Stock Exchange, or NYSE, "ex dividend" for the spin off tomorrow, February 1, 2007.

In September 2006, HPT agreed to acquire TravelCenters of America, Inc. from a group of private investors led by Oak Hill Capital Partners in a cash transaction for approximately $1.9 billion. This acquisition closed today on the terms originally announced last September. Simultaneously with this acquisition, HPT retained substantially all the TravelCenters real estate and HPT capitalized and spun out to HPT shareholders a subsidiary, TravelCenters of America LLC ("TA"), which will lease this real estate and continue the fuel services and hospitality business of TravelCenters.

TA shares began trading on a "when issued" basis on January 29, 2007 under the symbol "TA.wi". TA shares are expected to begin trading on the American Stock Exchange, or AMEX, under the symbol "TA" beginning February 1, 2007.

The distribution results in the delivery of one TA share to HPT shareholders for every 10 common shares of HPT owned. Information about the tax value and character of this distribution will be provided to HPT shareholders after the end of 2007.

TA has filed a prospectus and registration statement for the spin off of TA shares with the Securities and Exchange Commission, or SEC, which has been declared effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy TA securities. Copies of the prospectus which has been filed with the SEC relating to the TA shares are available at the SEC website at or at the HPT website, and a paper or electronic copy can be obtained without charge by request to HPT by telephone at 617-964-8389 or by email at

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.

Hospitality Properties Trust
Timothy A. Bonang
Manager of Investor Relations

Cautionary Language

The information appearing on SVC’s website includes statements which constitute forward looking statements. These forward looking statements are based upon SVC’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. SVC’s actual results may differ materially from those contained in SVC’s forward looking statements. The information contained in SVC’s filings with the Securities and Exchange Commission, including under “Risk Factors" and “Warnings Concerning Forward Looking Statements” in SVC’s periodic reports and other filings, identifies important factors that could cause SVC’s actual results to differ materially from those stated in SVC’s forward looking statements. SVC’s filings with the SEC are available on the SEC’s website at and are also accessible on SVC’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements.

The documents provided in this archived section are provided for historical purposes only. The information contained in each document is accurate only as of the date each document was originally issued or such earlier date stated in those documents. Except as required by law, Service Properties Trust does not undertake any obligation to update any information contained in these documents. For current information about the company, please refer to our most recent public SEC Filings.