At the time these earnings were announced, John Murray, President of HPT, issued the following statement:

�I�m pleased to report our first quarter operating results. Our hotels continued to realize occupancy rates and revenue per available room which exceed industry averages. Average rent coverage at our hotels, which is cash flow after capital expenditure reserves divided by rent, was a healthy 1.44 times for the twelve months ended March 2000. Our dividend payout ratios for the quarter are a comfortable 74% of FFO and 88% of CAD. EBITDA, after reserves for capital expenditures, covered interest expense at 6.0 times, and covered interest and preferred dividends at 5.0 times.  At the end of the quarter the cash we had in the bank was in excess of $77 million and our $300 million revolver was undrawn and fully available.�

Hospitality Properties Trust is a REIT headquartered in Newton, Massachusetts, which invests in hotels. HPT currently has investments of approximately $2.3 billion in 210 hotels located in 35 states.