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Hospitality Properties Trust Enters New $750 Million Bank Facility

NEWTON, Mass,--(BUSINESS WIRE)-- Hospitality Properties Trust (NYSE: HPT) today announced that it has entered into a new $750 million unsecured revolving credit facility. The new facility replaces HPT's previous $750 million unsecured revolving credit facility which had a maturity date of October 24, 2011. The maturity date of the new facility is September 8, 2015, and includes a borrower's option to extend the facility for one year to September 8, 2016. Interest paid on drawings under the new facility is set at LIBOR plus 130 basis points, subject to adjustments based on changes to HPT's credit ratings. The new facility also includes a feature under which the maximum borrowing may be increased to up to $1.5 billion in certain circumstances.

Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are the Joint Lead Arrangers for the new facility. Banks participating in the new facility are as follows:

Hospitality Properties Trust is a real estate investment trust, or REIT, headquartered in Newton, Massachusetts, which owns 288 hotels and 185 travel centers located in 44 states, Puerto Rico and Ontario, Canada.

WARNING CONCERNING FORWARD LOOKING STATEMENTS

CERTAIN STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND FEDERAL SECURITIES LAWS. THESE INCLUDE STATEMENTS REGARDING (1) FUTURE AVAILABILITY OF BORROWINGS UNDER OUR NEW REVOLVING CREDIT FACILITY, (2) A FEATURE UNDER WHICH HPT MAY EXPAND THE MAXIMUM AVAILABILITY UNDER THE CREDIT FACILITY, AND (3) THE INTEREST PAID ON DRAWINGS UNDER THE CREDIT FACILITY. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. FOR EXAMPLE:

• CONTINUED AVAILABILITY OF BORROWINGS UNDER THE CREDIT FACILITY IS SUBJECT TO HPT'S SATISFYING CERTAIN FINANCIAL COVENANTS AND MEETING OTHER CUSTOMARY CONDITIONS.
• INCREASING THE MAXIMUM BORROWINGS UNDER THE CREDIT FACILITY IS SUBJECT TO OBTAINING ADDITIONAL COMMITMENTS FROM LENDERS, WHICH COULD BE IMPACTED BY CHANGES IN OUR FINANCIAL CONDITION, THE ECONOMY OR THE CAPITAL MARKETS.
• ACTUAL ANNUAL COSTS UNDER THE CREDIT FACILITY WILL BE HIGHER THAN LIBOR PLUS A PREMIUM ON DRAWINGS BECAUSE OF OTHER FEES AND EXPENSES ASSOCIATED WITH THE CREDIT FACILITY.

SOME OF THESE FACTORS ARE BEYOND HPT'S CONTROL. FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR. YOU SHOULD NOT PLACE UNDUE RELIANCE UPON HPT'S FORWARD LOOKING STATEMENTS. EXCEPT AS MAY BE REQUIRED BY LAW, HPT DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
Vice President, Investor Relations
or
Carlynn Finn, 617-796-8232
Manager, Investor Relations

Source: Hospitality Properties Trust

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