Hospitality Properties Trust: Update to credit analysis - strong lease agreements and moderate leverage remain key credit strengths
Our credit view of HPT, reflecting its strong balance sheet and liquidity offset by volatility in the travel centers business and credit challenges related to external management structure.Hospitality Properties Trust is a real estate investment trust. The company invests in hotels and travel related real estate. The company also owns travel centers, which operated under the TravelCenters of America? and Petro Stopping Centers? brand name. The company's travel centers are full service sites located at or near an interstate highway exit and provide fuel and non-fuel products and services. The company's travel center includes: parking for tractor trailers and cars; a full service restaurant and quick service restaurants; a truck repair facility and tire and parts store; diesel and gasoline fueling points; a convenience store; a game room; a lounge and other amenities for truck drivers and motorists.
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