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Photo credit: Google 2015
Hospitality Properties Trust will pay $397M to TravelCenters of America to purchase and lease back 30 of its travel centers nationwide. The Newton-based hotel and travel center owner and operator anticipates a $30M increase in cash rents. It will also sell to TA five of its own travel centers for $45M, the Boston Business Journal reports. HPT is the 29th largest public company in Massachusetts, with $1.7B in 2014 revenue and $197.2M in 2014 net income. Its new properties are in the Midwest, the Southwest (including Holbrook, AZ, above) and the West Coast. [BBJ]
