HPT Announces Redemption of $115 Million 8 1/4% Senior Notes due 2005

Newton, MA (June, 2002). Hospitality Properties Trust (NYSE: HPT) today announced that it has called for redemption all of its outstanding $115 million 8 1/4% Senior Notes due in November 2005. These notes were called at par. This redemption is expected to occur on July 18, 2002. HPT expects to fund this redemption by borrowing on its revolving bank credit facility.

Hospitality Properties Trust is a real estate investment trust headquartered in Newton, MA. HPT currently has investments of approximately $2.7 billion in 251 hotels located in 37 states.