Achievement Follows Successful Progress on TA’s Transformation Plan, Including Significant
Enhancements to Guest Experience, Business Growth and Shareholder Value Creation
WESTLAKE, Ohio, May 26, 2022--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA), the nation's largest publicly traded full-service travel center network, today announced that it has rejoined the Fortune 500. Conceived in 1955, the Fortune 500 list annually ranks the 500 largest publicly traded companies in the U.S. by total revenues.
"After 50 years of serving professional drivers, fleet managers and highway travelers, we are excited that our company is once again included on the prestigious Fortune 500 list," said Jon Pertchik, Chief Executive Officer of TravelCenters of America. "TA’s incredible growth and progress is a testament to our team’s capabilities and outstanding execution. Since we launched our Transformation Plan in mid-2020, we have consistently exceeded our financial and operational objectives, adeptly navigating the challenges caused by the pandemic while demonstrating the consistent durability and resiliency of our business model. We are still in the early stages of our Transformation and expect to improve our facilities and services further while delivering incremental value creation for shareholders. With a mission to return every traveler to the road better than they came, we are pleased to be entering our next 50 years as a stronger company ideally positioned within our industry."
Last year, TA generated $7.3 billion in total revenue, due in large part to the Company’s continued investments in its guests and its people. Expanded restaurant options, remodeled sites, new travel center openings, technology upgrades, a growing franchise base and a plan to bring alternative energy resources to the marketplace are key initiatives that have resulted in customers doing more business with TA. Since launching the Transformation Plan in 2020, TA’s market capitalization has more than doubled.
About TravelCenters of America Inc.:
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 more than 18,000 team members serve guests in over 275 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, and leverages 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.
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