Hospitality Properties Trust Announces 2012 Second Quarter Results

Hospitality Properties Trust (NYSE: HPT) today announced its financial results for the quarter and six months ended June 30, 2012.

Results for the Quarter Ended June 30, 2012:

Normalized funds from operations, or Normalized FFO, for the quarter ended June 30, 2012 were $93.0 million, or $0.75 per share, compared to Normalized FFO for the quarter ended June 30, 2011 of $110.2 million, or $0.89 per share.

Net income available for common shareholders was $27.0 million, or $0.22 per share, for the quarter ended June 30, 2012, compared to $44.2 million, or $0.36 per share, for the same quarter last year. Net income available for common shareholders for the quarter ended June 30, 2011 included a $7.3 million, or $0.06 per share, loss on asset impairment.

The weighted average number of common shares outstanding was 123.6 million and 123.5 million for the quarters ended June 30, 2012 and 2011, respectively.

A reconciliation of net income available for common shareholders determined according to U.S. generally accepted accounting principles, or GAAP, to funds from operations, or FFO, and Normalized FFO for the quarters ended June 30, 2012 and 2011 appears later in this press release.

Results for the Six Months Ended June 30, 2012:

Normalized FFO for the six months ended June 30, 2012 were $189.4 million, or $1.53 per share, compared to Normalized FFO for the six months ended June 30, 2011 of $212.7 million, or $1.72 per share.

Net income available for common shareholders was $55.8 million, or $0.45 per share, for the six months ended June 30, 2012, compared to $89.8 million, or $0.73 per share, for the same period last year. Net income available for common shareholders for the six months ended June 30, 2012, was reduced by $2.9 million, or $0.02 per share, due to the liquidation preference for HPT’s preferred shares that it redeemed during that period exceeding the carrying value for those preferred shares. Net income available for common shareholders for the six months ended June 30, 2011, included a $7.3 million, or $0.06 per share, loss on asset impairment.

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