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TravelCenters of America LLC Message Board

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  • granicus007 granicus007 Jun 7, 2012 3:34 PM Flag

    HPT still owns TA

    yes, all businesses either pay rents or own their buildings. TA does both. And the rents TA pays HPT are all L-O-N-G term. HPT cannot arbitrarily increase TA's rent.
    Non-issue.

    • Nope.

      We have two leases with HPT, the TA Lease for 145 travel centers, which became effective on January 31, 2007, and the Petro Lease for 40 Petro travel centers, which became effective on May 30, 2007. Two of our subsidiaries are the tenants under the leases, and we, and in the case of our TA Lease certain of our subsidiaries, guarantee the tenants' obligations under the leases.

      Term. The TA Lease expires on December 31, 2022. The Petro Lease expires on June 30, 2024, and may be extended by us for up to two additional periods of 15 years each.

 
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