TravelCenters of America LLC

TravelCenters of America (TA) operates more than 260 stores in 43 U.S. states and one Canadian province. The company had a busy 2019: In January, TA acquired 20 travel-center properties it was leasing from its principal landlord, Hospitality Properties Trust (HPT), for $308.2 million. A month later, TA signed an agreement with Heinz Inc., operator of the Coffee Cup Fuel Stops, to convert four of its Coffee Cup locations to the TA Express brand.

In May, the company's board of directors approved a plan to convert from a Delaware limited liability company, or LLC, to a Maryland corporation. The move was intended to refocus the company on its core business and to reposition it financially.

In June, TA signed a franchise agreement with Amin Alibhai, a real estate investor and owner of Nizar Alibhai investments Inc., Atlanta, to open a TA-branded travel center in Huntington, Ore. Three months later, TA opened its second TA Express franchise in Hot Springs, S.D.

Finally, in December, the company appointed Jonathan Pertchik as CEO and managing director, succeeding the retiring Andrew Rebholz.

For benchmarking purposes, store counts are year-end 2019.