Hospitality Properties Trust (HPT)

Hospitality Properties Trust is a real estate investment trust ("REIT") that buys, owns and leases hotels. We currently own 274 hotels with 37,132 rooms costing $2.9 billion. Our business strategy is to invest in high quality hotels leased to experienced hotel operators for rent which exceeds our cost of capital. The average age of our hotels is eight years. We believe that our hotels are among the newest, best designed, best located and best managed hotels in their market segments.