NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today
announced the pricing of $300 million of 5.625% unsecured Senior Notes
due 2017. Closing of the sale of the notes is expected to occur on March
12, 2007. HPT expects to use the net proceeds from the sale of the
notes to repay a portion of the debt incurred to fund its recently
completed acquisition of TravelCenters of America, Inc.
The notes will be sold to qualified institutional buyers by means of a
private offering memorandum in accordance with Rule 144A under the
Securities Act of 1933, as amended. The notes have not been registered
under the Securities Act of 1933, as amended, or any state securities
laws, and unless so registered, may not be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act of 1933, as amended, and applicable
state laws.
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 or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.
WARNINGS REGARDING FORWARD LOOKING STATEMENTS
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 REPRESENT
HPT'S PRESENT BELIEFS AND EXPECTATIONS, BUT THEY MAY NOT OCCUR. FOR
EXAMPLE, THE FACT THAT THIS OFFERING HAS PRICED MAY IMPLY THAT THE
OFFERING WILL CLOSE. THE CLOSING IS SUBJECT TO CONDITIONS CUSTOMARY TO
TRANSACTIONS OF THIS TYPE AND MAY BE DELAYED OR MAY NOT OCCUR AT ALL.
INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING
STATEMENTS.
Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com