Hospitality Properties Trust Announces Record Date For TravelCenters Spin Off

January 19, 2007

NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) today announced that the record date for its planned spin off of TravelCenters of America LLC ("TA") will be the close of business on Friday, 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 if necessary.

HPT also announced that the closing of the spin off and the distribution of TA shares is now 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", but that listing has not yet been approved. A "when issued" market may develop on the AMEX after the HPT record date and before the 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 distribution after the distribution occurs.

TA has filed a preliminary prospectus and registration statement with the Securities and Exchange Commission, or SEC, registering the spin off, but it has not yet been declared effective. If this registration statement has not been declared effective before the record date set forth above, the record date will be postponed. TA securities may not be sold, nor may offers to buy TA securities be accepted, prior to the time this registration statement becomes effective. 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 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 preliminary prospectus which has been filed with the SEC and of the final prospectus relating to the TA shares when and if the registration statement is declared effective are and will be available at the SEC website at www.sec.gov.

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 SHAREHOLDERS OF RECORD ON JANUARY 26, 2007 WILL BE ENTITLED TO RECEIVE A DISTRIBUTION OF TA SHARES.

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

  • THIS PRESS RELEASE STATES THAT AN APPLICATION TO LIST TA SHARES ON THE AMEX HAS BEEN FILED AND IMPLIES THAT THIS APPLICATION MAY BE GRANTED.

  • THIS PRESS RELEASE IMPLIES THAT A "WHEN ISSUED" MARKET MAY DEVELOP FOR TA SHARES ON OR AFTER JANUARY 26, 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.

NONE OF THESE EVENTS MAY OCCUR UNLESS AND UNTIL THE REGISTRATION STATEMENT FOR TA SHARES IS DECLARED EFFECTIVE BY THE SEC. HPT DOES NOT CONTROL IF OR WHEN THIS SEC ACTION WILL OCCUR. THE SPIN OFF TRANSACTION DESCRIBED IN THIS PRESS RELEASE MAY BE DELAYED OR IT MAY NOT OCCUR. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

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
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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