Continues Transformation Focused on Guest Experience and Business Growth
TravelCenters of America Inc. (Nasdaq: TA) is celebrating 50 years of providing a home away from home for professional drivers and providing meals, fuel and merchandise for communities and highway travelers. TA continues to deliver on its transformation plans focused on upgrading the guest experience, growing the company and creating long-term shareholder value. 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.
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“As we enter our 50th anniversary year, our commitment to transform TA for our guests and shareholders is stronger than ever,” said Jon Pertchik, Chief Executive Officer of TA. “We are in the early stages of the transformation and have exciting plans for 2022; we are working hard to ensure we are here to serve all highway travelers for the next 50 years.”
Improving the guest experience is a priority and plans include a robust capital investment strategy focused on travel center upgrades, reimagined food concepts and technology improvements. TA plans to upgrade over 100 sites by the end of 2022, with enhancements that include renovated restrooms, upgraded showers, more comfortable driver lounges, repaved parking lots, improved signage, new store flow and new lighting fixtures, paint and flooring.
TA will focus on food variety and restaurant options in 2022, with plans to open several new full-service and quick-service restaurants, and over 20 “The Kitchen” concepts, providing freshly prepared food, packaged meals and snacks. TA is focused on providing a variety of healthy options that appeal to both professional drivers and motorists.
In addition, TA will implement digital enhancements, including mobile payment options, self-checkout and developments to its TruckSmart mobile app.
In 2021, TA opened five new locations, one new TA Truck Service Center and signed 26 franchise agreements. In 2022, TA expects to open 13 franchised travel centers and one company-owned location, hold a grand re-opening of a reconstructed site and grow its TA Truck Service presence.
TA is also refreshing core systems and infrastructure to drive operational efficiencies and improve resiliency. In 2022, the company is focusing on several initiatives including refreshing site technology infrastructure and core business platforms with cloud-based solutions, and enhancing data security and analytics, including Artificial Intelligence for fuel management.
Alternative Energy and Sustainability
In 2022, TA expects to expand diesel exhaust fluid (DEF) availability to all diesel lanes across its network, install additional biodiesel blending infrastructure and offer more EV charging stations. TA also plans to launch an innovative test project with the California Energy Commission, which will include designing, developing and deploying a distributed energy resource to power energy storage and EV charging solutions. In addition, TA continues plans to offer hydrogen fueling in California in collaboration with Nikola Corporation for heavy duty trucks.
In honor of its 50th anniversary, TA will hold several 50th anniversary-themed special events for its guests including unique offers such as 1970s pricing on certain products, music concerts at several sites in the Fall and guest contests through its mobile app and on social media.
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 more than 18,000 team members serve guests in over 275 locations in 44 states and Canada, 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. Among others, the forward-looking statements which appear in this press release that may not occur include:
- Statements about TA's capital investment strategy, including investments in travel centers, restaurant and technology upgrades and the resulting benefits TA expects for customers, the business and performance. Capital investment plans may take longer to complete and cost more than expected. Further, the projects pursued may not turn out as planned and may result in TA not realizing the benefits it expects;
- Statements about the expected opening of new franchised locations and growth of TA’s truck service presence. The opening of new franchises may be delayed or may not occur, truck services may not expand and the new franchises and expanded truck service presence may not be successful or generate the revenue for TA that it expects; and
- Statements about expanding DEF availability, investing in alternative energy infrastructure, launching a test project with the California Energy Commission and offering hydrogen in collaboration with Nikola Corporation. TA may decide not to make these investments or continue these relationships and if TA does further pursue these initiatives or make these investments, TA may not realize the returns or other benefits it may expect and TA could realize losses.
The information contained in TA's periodic reports, including TA's Annual Report on Form 10-K for the year ended December 31, 2020, 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, 2021, June 30, 2021 and September 30, 2021, which have been or will be 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.