TravelCenters said in the release that it "believes that the gains which TA expects to realize upon completion of these sales evidence the successes of TA's expansion program." The gains "will be amortized as a reduction of rent expense during the lease terms for the leased sites," the company said. Thomas M. O'Brien, president, CEO and a managing director of TravelCenters, said in a statement, "The agreements … represent the results of a lot of hard work that TA and HPT began to conceptualize almost one year ago. I believe they represent clear wins for both companies. I also believe these agreements are strong evidence of TA's success in creating value by buying and redeveloping travel centers."