TravelCenters of America Continues Growth Expansion Through Franchising
TravelCenters of America (Nasdaq: TA) is expanding its franchise operations nationwide, having signed 21 agreements in 2020 and opening the first franchise of 2021 in Huntington, Oregon. By the end of Q1 2021, two more centers are expected to open, with a total of 20 anticipated by year-end across various states. The company is negotiating additional franchise agreements, highlighting its commitment to fill geographic gaps. Approximately 90% of top fleets utilize TA's services, with a range of amenities offered at its centers.
- Opened the first franchise in 2021 in Huntington, Oregon.
- Plans to open two more franchises by the end of Q1 2021.
- Anticipates 20 additional travel centers by year-end in multiple states.
- 90% of America's top 100 largest fleets choose TA for fuel and services.
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TravelCenters of America Inc. (Nasdaq: TA), nationwide operator of the TA, Petro Stopping Centers and TA Express travel center brands, is delivering on its commitment to expand its footprint nationwide through franchising. In 2020, the company signed 21 franchise agreements and opened 10 new franchise locations. A TA travel center is opening today in Huntington, Oregon, located on Interstate 84 at exit 353, the company’s first franchise site to open in 2021.
TA expects to open two additional franchised travel centers by the end of the first quarter of 2021, with 20 more anticipated to open by the end of the year in the following states: Alabama, Georgia, California, Kansas, Illinois, Ohio, Pennsylvania, Texas, Tennessee, Utah and Wisconsin. In addition, TA is currently negotiating franchise agreements for more than 20 travel centers across the U.S. and has more than 80 other potential franchise agreements in its pipeline.
“We’re expanding our footprint by focusing on strategic locations that will help us fill geographic gaps in our network and better meet the needs of our customers,” said Jon Pertchik, CEO of TA. “For truck stop and travel center owners, joining the TA network provides clear benefits and is an attractive opportunity. Most importantly, we support and invest in our franchisee partners and are deeply committed to helping their businesses grow and prosper over the long term.”
On May 1, 2020, TA made a series of announcements highlighting key steps in a new strategic, long-term plan to improve operational efficiency and profitability, including a company-wide reorganization. Franchising is an integral part of the company’s transformation and a key reason TA also announced the acceleration of its franchise engagement efforts.
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“It’s an extremely exciting time here at TA, as we are transforming our business, refreshing our travel centers and reimagining the guest experience. We look forward to continued expansion, welcoming more franchisees into our family and serving more travelers across the country,” Pertchik added.
Those interested in franchise opportunities can learn more by visiting ta-petro.com/franchising.
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 nearly 20,000 employees serve customers in over 270 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, convenience stores, truck maintenance and repair, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public. TravelCenters of America operates nearly 650 full-service and quick-service restaurants and 10 proprietary brands, including Quaker Steak and Lube®, Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Warning Regarding 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. Also, 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. For example, this press release includes various statements about opening new travel centers, expected new franchising arrangements, potential future franchising arrangements, plans to pursue additional franchising arrangements, and the anticipated benefits of expanding the company’s network. However, these arrangements may not be completed or, if they are, TA may not realize the benefits it expects from them.
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