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UNITED STATES |
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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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SCHEDULE 14A |
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SCHEDULE 14A INFORMATION |
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Proxy
Statement Pursuant to Section 14(a) of |
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Filed by the Registrant x |
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Filed by a Party other than the Registrant o |
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Check the appropriate box: |
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Preliminary Proxy Statement |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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Definitive Proxy Statement |
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Definitive Additional Materials |
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Soliciting Material Pursuant to §240.14a-12 |
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HOSPITALITY PROPERTIES TRUST |
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(Name of Registrant as Specified In Its Charter) |
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant) |
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Payment of Filing Fee (Check the appropriate box): |
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No fee required. |
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Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
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(1) |
Title of each class of securities to which transaction applies: |
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(2) |
Aggregate number of securities to which transaction applies: |
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(3) |
Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): |
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(4) |
Proposed maximum aggregate value of transaction: |
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(5) |
Total fee paid: |
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Fee paid previously with preliminary materials. |
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
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(1) |
Amount Previously Paid: |
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(2) |
Form, Schedule or Registration Statement No.: |
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(3) |
Filing Party: |
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(4) |
Date Filed: |
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400 Centre Street, Newton, MA 02458-2076 |
Tel: (617) 964-8389 Fax: (617) 969-5730 |
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May 1, 2009 |
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To HPT Shareholders:
VOTE AGAINST PROPOSAL #3
On April 23, 2009, CalPERS, a public employee pension plan, distributed information about HPT’s historical performance we believe is materially misleading. CalPERS compared HPT’s stock market performance with companies in the Russell 1000 Index. As CalPERS knows, HPT’s investments are concentrated in hospitality real estate; and investments in hospitality stocks are among the most likely to follow the business cycle. A proper basis to evaluate HPT’s performance is to compare it with the performance of all other real estate investment trusts with concentrated investments in the hospitality industry (as compiled by SNL Financial — a leading independent real estate research firm), as follows:
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Companies listed |
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HPT Rank by total return |
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Periods ending |
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As hotel REITs |
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to shareholders (#1 equals |
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March 31, 2009 |
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by SNL Financial* |
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highest total return) |
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5 years |
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8 hotel REITs |
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#1 |
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3 years |
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11 hotel REITs |
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#1 |
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1 year |
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11 hotel REITs |
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#1 |
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We do not know with certainty what has motivated CalPERS, but we are concerned that a vote to support their proposal will empower so called “activists” to take advantage of temporary market conditions to destroy a company with a proven record of performance.
VOTE AGAINST PROPOSAL #3
CalPERS’s Proposal #3 seeks to declassify HPT’s Board. However, CalPERS failed to disclose that its own elected trustees serve staggered terms expiring in different years. No one, including the HPT Board and management, is pleased with the recent stock market performance of our shares, but now is not the time to change the management structure which has produced consistently superior returns for shareholders.
VOTE AGAINST PROPOSAL #3
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Sincerely, |
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For more information contact |
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HPT’S proxy solicitor |
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INNISFREE (877) 825-8971 |
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John G. Murray |
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President |
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*/ SNL classified hotel REITs include: Ashford Hospitality Trust, Diamond Rock Hospitality; Felcor Lodging Trust; Hersha Hospitality Trust; HPT; Host Hotels & Resorts; LaSalle Hotel Properties; MHI Hospitality; Supertel Hospitality; Sunstone Hotel Investors; and Strategic Hotels & Resorts.