Capital Expenditures and LiquidityDuring the six months ended June 30, 2012, TA made capital investments of $65.1 million for improvements to existing travel centers and $3.3 million to improve eight travel centers TA acquired during 2011. In March 2012 TA purchased a travel center for $5.6 million and during the three months ended June 30, 2012, TA purchased three additional travel centers for an aggregate of $12.3 million. During the six months ended June 30, 2012, TA sold to Hospitality Properties Trust, or HPT, $18.1 million of improvements at sites leased from HPT which results in increased rent due to HPT under the lease terms. During July 2012, TA completed the acquisitions of an additional five travel centers for an aggregate of $22.1 million.
TravelCenters Of America LLC Announces Second Quarter 2012 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts