NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced
today that it has commenced a public offering of 4,000,000 common shares
of beneficial interest. HPT expects to use the net proceeds to repay a
portion of the debt incurred to fund its recently completed acquisition
of TravelCenters of America, Inc.. The underwriters will be granted a
30-day option to purchase up to an additional 600,000 shares from HPT to
cover overallotments, if any.
The joint book-running managers for this offering are Merrill Lynch
& Co., Morgan Stanley and RBC Capital Markets. The joint lead
managers for this offering are 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 press release 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 or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of that state or jurisdiction. 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 (telephone: 212-449-1000), from the offices of
Morgan Stanley, 1585 Broadway, New York, New York 10036 (telephone:
212-761-4000), from the offices of RBC Capital Markets, Equity Syndicate
Department, One Liberty Plaza, 165 Broadway, New York, NY 10006
(facsimile: 212-428-6260), or from the offices of any of the other
managing underwriters identified above.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
OTHER 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 4,000,000 COMMON
SHARES BY HPT, MORE OR LESS THAN 4,000,000 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THIS OFFERING MAY BE WITHDRAWN, DEPENDING UPON MARKET CONDITIONS OR FOR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