Hospitality Properties Trust Announces Effectiveness of Registration Statement for TravelCenters of America Spin Off

January 26, 2007

NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today announced that the registration statement for its TravelCenters of America LLC ("TA") spin off has been declared effective by the Securities and Exchange Commission, or SEC.

As previously announced, the record date for this spin off is January 26, 2007. Shareholders of HPT will receive one (1) share of TA for every ten (10) shares of HPT owned on this record date. Fractional shares will be issued as necessary.

HPT also announced that the closing of the spin off and the issuance and distribution of TA shares is expected to occur on or about January 31, 2007.

TA has filed an application to list its shares on the American Stock Exchange, or AMEX, under the symbol "TA", and that listing has been approved subject to notice that issuance of the TA shares has occurred. A "when issued" market may develop on the AMEX before the issuance and distribution date; however, neither HPT nor TA can provide any assurance that such a market will develop or at what price the TA shares will trade.

The New York Stock Exchange, or NYSE, has advised HPT that HPT shares will begin to trade "ex-dividend" for the TA spin off after the distribution occurs.

TA has filed a prospectus and registration statement with the SEC which has been declared effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities; nor shall there be any sale of TA securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. Copies of the prospectus which has been filed with the SEC relating to the TA shares are available at the SEC website at www.sec.gov, or on the HPT website, www.hptreit.com, and a paper or electronic copy can be obtained without charge by request directed to HPT by telephone at (617) 964-8389 or by email at info@hptreit.com.

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 THE FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HPT'S PRESENT BELIEFS AND EXPECTATIONS BUT THEY MAY NOT OCCUR. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT HPT SHAREHOLDERS OF RECORD ON JANUARY 26, 2007 WILL BE ENTITLED TO RECEIVE A DISTRIBUTION OF TA SHARES.

  • THIS PRESS RELEASE STATES THAT THE ISSUANCE AND DISTRIBUTION OF TA SHARES IS EXPECTED TO OCCUR ON OR ABOUT JANUARY 31, 2007.

  • THIS PRESS RELEASE STATES THAT HPT SHARES WILL BEGIN TO TRADE "EX DIVIDEND" WHEN THE DISTRIBUTION OF TA SHARES OCCURS AND IMPLIES THAT THIS WILL OCCUR ON OR ABOUT JANUARY 31, 2007.

THE ISSUANCE AND DISTRIBUTION OF TA SHARES IS CONDITIONED UPON HPT'S CLOSING ITS PURCHASE OF TRAVELCENTERS OF AMERICA, INC. HOWEVER, THIS PURCHASE HAS NUMEROUS CONDITIONS PRECEDENT INCLUDING THIRD PARTY APPROVALS TYPICAL OF LARGE ACQUISITIONS. ACCORDINGLY, THIS PURCHASE AND THE ISSUANCE AND DISTRIBUTION OF TA SHARES TO HPT SHAREHOLDERS MAY BE DELAYED OR CANCELLED. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE.

Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com

Cautionary Language

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

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