Hospitality Properties Trust Announces 2011 Fourth Quarter Results

Hospitality Properties Trust (NYSE: HPT) today announced its financial results for the quarter and year ended December 31, 2011.

Results for the Quarter Ended December 31, 2011:

Normalized funds from operations, or Normalized FFO, for the quarter ended December 31, 2011 were $96.8 million, or $0.78 per share, compared to Normalized FFO for the quarter ended December 31, 2010 of $104.5 million, or $0.85 per share.

Net income available for common shareholders was $30.7 million, or $0.25 per share, for the quarter ended December 31, 2011, compared to a net loss available for common shareholders of $100.4 million, or $0.81 per share, for the same quarter last year. Net income (loss) available for common shareholders for the quarters ended December 31, 2011 and 2010, include a $9.1 million, or $0.07 per share, and a $147.3 million, or $1.19 per share, loss on asset impairment, respectively.

The weighted average number of common shares outstanding was 123.5 million and 123.4 million for the quarters ended December 31, 2011 and 2010, 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 December 31, 2011 and 2010 appears later in this press release.

Results for the Year Ended December 31, 2011:

Normalized FFO for the year ended December 31, 2011 were $407.5 million, or $3.30 per share, compared to Normalized FFO for the year ended December 31, 2010 of $400.0 million, or $3.24 per share.

Net income available for common shareholders was $160.6 million, or $1.30 per share, for the year ended December 31, 2011, compared to a net loss available for common shareholders of $8.5 million, or $0.07 per share, for the year ended December 31, 2010. Net income available for common shareholders for the year ended December 31, 2011 includes a $16.4 million, or $0.13 per share, loss on asset impairment. Net loss available for common shareholders for the year ended December 31, 2010 includes a $6.7 million, or $0.05 per share, loss on extinguishment of debt and a $163.7 million, or $1.33 per share, loss on asset impairment.

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