Press release from Business Wire
HPT Announces Changed Circumstances Regarding Previously Announced Letter of Intent
Thursday, April 25, 2013
HPT Announces Changed Circumstances Regarding Previously Announced Letter of Intent08:59 EDT Thursday, April 25, 2013
NEWTON, Mass. (Business Wire) -- On February 27, 2013, Hospitality Properties Trust (NYSE: HPT) announced that it had entered a letter of intent (“LOI”) and exclusive negotiating period with respect to a possible transaction involving an investment of approximately $375 million in ten hotels in Europe, New York and Latin America currently operated by NH Hoteles SA (BME: NHH) (NYSE: NHHEY (ADRs)). On April 24, 2013, HPT was notified by NHH that NH Hoteles was unable to obtain the necessary bank approvals to allow it to move forward with the transaction as outlined in the LOI. HPT expects to enter into discussions with NH Hoteles about possible modifications or alternatives to the transaction originally announced, but at this time the outcome of any such discussions is uncertain.
Hospitality Properties Trust is a real estate investment trust, or REIT, which owns or leases hotels and travel centers located in 44 states, Puerto Rico and Canada. HPT is headquartered in Newton, Massachusetts.
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.
For Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
Vice President, Investor Relations,
Senior Manager, Investor Relations.