Hospitality Properties Trust Appoints Brian Donley as Chief Financial Officer and Treasurer Following Mark Kleifges’s Retirement

October 25, 2018

NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (Nasdaq: HPT) today announced that Brian E. Donley has been appointed as Chief Financial Officer and Treasurer, effective January 1, 2019.

Mr. Donley has been HPT’s controller since 2007 and he has served in various finance and accounting leadership roles at The RMR Group (Nasdaq: RMR) since 1997. He has more than two decades of commercial real estate experience, including expertise in corporate finance and reporting, mergers and acquisitions, capital market transactions and compliance. Mr. Donley is also a certified public accountant.

Mr. Donley succeeds Mark L. Kleifges who is retiring and therefore resigning from his positions with both HPT and RMR effective December 31, 2018. Mr. Kleifges has been with both HPT and RMR since 2002. To ensure a smooth transition, Mr. Kleifges will remain a non-executive employee of RMR until his retirement on June 30, 2019.

Adam Portnoy, Managing Trustee of HPT and Managing Director, President and Chief Executive Officer of RMR, made the following statement:

“Mark joined HPT and RMR in 2002, not long after the REIT Modernization Act shifted lodging REITs away from triple net leases to management agreements. He, along with current HPT CEO John Murray and the HPT Board, were instrumental in shaping HPT’s strategy in the lodging REIT space, one that has artfully positioned the management agreements to provide protections to certain HPT cash flows compared to lodging REIT peers. Over the years, his contributions have led to HPT’s well maintained, diverse and scaled portfolio, the successfully renegotiated management agreements that continue to include industry unique cash flow support features today, a conservative balance sheet and cash flow profile that have supported the company’s strategy and contributed to HPT’s ability to maintain its investment grade ratings and generate EBITDA and dividend growth over time. On behalf of the HPT and RMR Boards, I want to thank Mark for his many years of service.”

Mr. Donley has also been recently appointed as Chief Financial Officer and Treasurer of the RMR Real Estate Income Fund (NYSE American: RIF).

Hospitality Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada. HPT's properties are operated under long term management or lease agreements. HPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

Hospitality Properties Trust
Katie Strohacker, 617-796-8232
Senior Director, Investor Relations

Source: Hospitality Properties Trust

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