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Investment Group Buys TravelCenters for $1.9 Billion

(Akron/Tire Review) The country’s largest chain of truck stops and travel centers, TravelCenters of America Inc., is being acquired by real-estate investment firm Hospitality Properties Trust for $1.9 billion.

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Hospitality Properties said it plans no major changes at the 162 TravelCenters locations in 40 states and Canada.

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The sale is expected to close early next year.

Hospitality Properties owns 310 hotels in North America.

Once part of BP America, TravelCenters was bought in 2000 by Oak Hill Capital Partners, and before that was owned by a group of institutional investors.

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