TravelCenters of America Continues Expanding Network Through Acquisitions, Franchising and New Construction; Announces Completion of Over 50 Travel Center Upgrades

Rhea-AI Summary

TravelCenters of America (TA) is enhancing its service network with the opening of four new travel centers, raising its total to 280 locations, including 41 franchises. Plans are in place for four more centers by the end of 2022. Over 50 travel centers have undergone renovations to improve guest experiences, featuring updated facilities and new food options in collaboration with Cleveland Clinic. CEO Jon Pertchik emphasizes growth and improved offerings to meet traveler needs. The company is committed to sustainability and enhanced service at its travel centers.

Positive

• Expansion to 280 travel centers with four new openings.
• Plans for four additional franchised centers by 2022 end.
• Completion of renovations at over 50 locations, enhancing guest experience.
• New healthy meal options introduced on the menus in collaboration with Cleveland Clinic.

Negative

• Potential delays in opening additional franchised travel centers.

Network Expansion and Focus on Guest Experience Remain Priority Initiatives

WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America Inc. (Nasdaq: TA) today announced network expansion and guest experience updates, including the opening of four new travel centers, the planned opening of four additional locations by the end of 2022 and the completed enhancements of over 50 travel centers as part of a site upgrade plan announced last year.

TA Express Statesboro, Ga. is a newly constructed site that opened in October 2022. (Photo: Business Wire)

The four recent travel center openings, three of which are company owned and operated and one of which is franchised, increase TA’s nationwide network of travel centers to 280, including 41 franchise sites. The new sites include:

• TA, Cuba, MO (formerly Midwest Travel Center)
• TA Express, Fair Play, SC (formerly Carolina’s Travel Center)
• TA Express, Statesboro, GA (newly built company owned site)
• TA Express, Riverton, IL (newly built franchised site)

Four additional franchised travel centers are expected to open by the end of 2022 in California (2), Missouri (1) and Oklahoma (1).

As part of its commitment to improve the guest experience, TA also announced the completion of over 50 site refreshments with improvements that include the enhanced comfort of driver lounges, renovated restrooms, upgraded showers, new lighting fixtures, new flooring and fresh paint, new store signage and repaved parking lots. To view sites which have been renovated, updated or remodeled, click here: Guest Experience – TravelCentersOfAmerica (tatransformation.com)

Last month, TA announced an initiative to expand its support of professional drivers’ health and well-being through a collaboration with Cleveland Clinic, one of the world’s most respected academic medical centers. The collaboration with Cleveland Clinic will result in new healthy meal options to be included on the menus at all Country Pride and Iron Skillet full-service restaurants starting Nov. 1 and will identify healthy snack and grab-and-go food options in travel stores.

“We are listening to our guests’ feedback and are pleased to offer what they are looking for - a welcoming and engaging travel center experience- through newly built and refreshed locations,” said Jon Pertchik, CEO of TA. “As we continue growing to serve more travelers, we are enhancing their experience by expanding food offerings, supporting guest health and continuing to update and upgrade our sites.”

About TravelCenters of America

TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its 19,000 team members serve guests in 280 locations in 44 states principally under the TA^®, Petro Stopping Centers^®, and TA Express^® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking, and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet^® and Country Pride^®. For more information, visit www.ta-petro.com.

Warning Concerning Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever TA uses words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives or derivatives of these or similar expressions, TA is making forward-looking statements. These forward-looking statements are based upon TA's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by TA's forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond TA's control. The forward-looking statements that appear in this press release that may not occur include the statement that four additional franchised travel centers are expected to open by the end of 2022. However, the opening of these franchised travel centers may be delayed or may not occur.

The information contained in TA's periodic reports, including TA's Annual Report on Form 10-K for the year ended December 31, 2021, which has been filed with the U.S. Securities and Exchange Commission, or SEC, and TA's Quarterly Reports on Form 10-Q for the periods ended March 31, 2022 and June 30, 2022, which have been filed with the SEC, under the caption "Risk Factors," or elsewhere in those reports, or incorporated therein, identifies other important factors that could cause differences from TA's forward-looking statements. TA's filings with the SEC are available on the SEC's website at www.sec.gov.

You should not place undue reliance upon forward-looking statements. Except as required by law, TA does not intend to update or change any forward-looking statement as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005155/en/

Tina Arundel

TravelCenters of America

440-250-4758

tarundel@ta-petro.com

Source: TravelCenters - Financial

FAQ

What is the significance of the new travel centers opened by TravelCenters of America (TA)?

The new travel centers expand TA's network to 280 locations across the U.S., enhancing accessibility for travelers.

How many travel centers does TravelCenters of America plan to open by the end of 2022?

TravelCenters of America plans to open four additional franchised travel centers by the end of 2022.

What improvements have been made to existing travel centers by TravelCenters of America?

Over 50 travel centers have been renovated, featuring upgraded facilities such as improved restrooms and lounges.

How is TravelCenters of America enhancing guest experience?

TA is enhancing guest experience with site upgrades, new food options, and dedicated health initiatives in collaboration with Cleveland Clinic.

What is the stock symbol for TravelCenters of America?

The stock symbol for TravelCenters of America is TA.