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TravelCenters of America to Open New Texas TA Express

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TravelCenters of America (TA) announced that it has signed a franchise agreement to bring another travel center to Texas. A new TA Express will be built in Pleasanton, Texas, on I-37 between San Antonio and Corpus Christi.

Planned amenities include:

  • Gasoline with 20 fueling positions
  • Truck diesel with seven fueling positions
  • Approximately 100 truck parking spaces
  • Approximately 50 car parking spaces
  • Five showers
  • Driver’s lounge
  • Laundry facilities
  • CAT Scale
  • Two quick service restaurants

The TA Express is planned to open in early 2022.

TravelCenters of America 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, 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.

Sours: https://cstoredecisions.com/2021/07/12/travelcenters-of-america-to-open-new-texas-ta-express/

Travelcenters of America Inc

About Travelcenters of America Inc

TravelCenters of America Inc. (TravelCenters) operates or franchises travel centers and standalone truck service facilities. The Company also collects rents, royalties and other fees from its tenants and franchisees. The Company offers a range of products and services, including diesel fuel and gasoline, as well as nonfuel products and services such as a range of truck repair and maintenance services, diesel exhaust fluid (DEF), full service restaurants (FSRs), quick service restaurants (QSRs), and various customer amenities. The Company’s customers include trucking fleets and their drivers, independent truck drivers, highway and local motorists and casual diners. The Company's business includes travel centers in the United States primarily along the United States interstate highway system. Its travel centers are operated under the TravelCenters of America, TA brand names, TA Express, Petro Stopping Centers and Petro brand names.

Industry

Retail (Specialty)

Executive Leadership

Adam D. Portnoy

Chairman of the Board, Managing Director

Barry A. Richards

President

Jonathan M. Pertchik

Chief Executive Officer, Managing Director, Director

Peter J. Crage

Chief Financial Officer, Executive Vice President, Treasurer

Mark R. Young

Executive Vice President, General Counsel

Key Stats

1.75 mean rating - 4 analysts

Revenue (MM, USD)
EPS (USD)

Price To Earnings (TTM)

30.37

Price To Sales (TTM)

0.13

Price To Book (MRQ)

1.16

Price To Cash Flow (TTM)

5.42

Total Debt To Equity (MRQ)

83.13

LT Debt To Equity (MRQ)

82.93

Return on Investment (TTM)

0.85

Return on Equity (TTM)

0.73
Sours: https://www.reuters.com/companies/TA.A
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TravelCenters of America Employee Reviews

It can be a rewarding place to work

QSR Lead (Former Employee) - Moriarty, NM - September 11, 2021

I worked for this company for 3 years. In that timeframe, I went through 3 manager’s. The first two were really great and the last one I had was okay, I mean he wasn’t too terrible as a boss but he also didn’t spend too much time on the floor like the last manager’s before him, but he was pretty cool considering. I was however, forced to work while sick with the Covid virus and that wasn’t something that I felt comfortable about so I did what I still feel is the right thing to do, I quit to protect my customers and my former employees from me. The job is stressful due to it being a truck stop and sometimes you get those drivers that come in and try to pick fights with anyone who was behind the counter but otherwise it is pretty laidback and a relaxing environment. If you really want to know, this company does offer great opportunities but the pay increases (getting your raise) wasn’t worth it. $.20 extra per an hour isn’t worth putting ones life at risk during a pandemic, isn’t worth it. Otherwise it is a place you need to try working for to understand weather or not that you want to work for this company. I did enjoy some of the little things there that make it worth working for this company, you might enjoy it too.

Pros

20% off items both in the store (excluding tobacco and fuel) and the restaurant

Cons

It comes down to management

Sours: https://www.indeed.com/cmp/Travelcenters-of-America/reviews

TravelCenters of America lays off more than 3,000

WESTLAKE, Ohio – TravelCenters of America, one of North America’s largest truck stop chains, has laid off 2,900 field employees and 122 corporate employees in the face of the Covid-19 pandemic.

All TA, Petro Stopping Centers and TA Express travel centers remain open with fuel, showers, restrooms, quick-serve restaurants and convenience stores. But the full-service restaurant business has been affected by limits on such establishments and lower consumer demand linked to broader stay-at-home orders.

“Employees continue to take precautionary measures consistent with the recommendations of the Centers for Disease Control and Prevention to minimize the spread of coronavirus, including social distancing and enhanced cleaning protocols,” it adds in a related press release.

“This decision was very difficult, but these are unprecedented times. We believe this step is necessary to preserve the long-term success of our company and to ensure our essential services remain available for the millions of professional drivers who rely on us daily,” said Jon Pertchik, CEO of TA.

Founded in 1972, TravelCenters of America has more than 21,000 employees in more than 260 locations.

Sours: https://www.trucknews.com/transportation/travelcenters-of-america-lays-off-more-than-3000/1003139643/

Of america travelcenters

TruckSmart

With the TruckSmart app. you have the Full Service Advantage right at your fingertips! Map out your daily route to include TA or Petro locations wherever you go. TA and Petro offer diesel and gasoline fueling services, full and quick-serve restaurants, heavy truck maintenance services, 24-hour c-stores, WIFI and more, all within large, high traffic facilities. Plus, we offer 24/7/365 roadside repair with our RoadSquad program. 

TruckSmart Advantages : 
Interactive Map displaying the TravelCenters/Petro sites that are within 250 miles from your current location 
Complete list of amenities at the TravelCenters/Petro sites, including Services, Restaurants, Showers, Parking. 
Location list by radius from 50 & 100 miles, in addition to highway and state look up 
Current Fuel Prices 
Turn by Turn Directions 
Call Roadsquad or Site integration 
Call Roadsquad will pass your current coordinates to our Call Center to pinpoint your location to be used for Tech dispatching 
Current Site Weather 
Available Showers 
Available Parking 
Current Specials for each of our brands 
Instant Showers 
Share Location 
UltraOne Integration 
Call Customer Service

Sours: https://play.google.com/
TravelCenters of America Mission

TravelCenters of America (NASDAQ: TA) pledged practically all of its assets to secure a $200 million loan to pay for CEO Jonathan Pertchik’s makeover of the business.

It is TA’s second major fundraising effort this year. It sold 6.1 million new shares in the company at $14.61 a share in July after cutting the price by about a third from the original asking price. TA raised about $80.1 million from the sale. 

Buyers of those shares have done well. TA shares closed Monday up 3% at $32.98.

The seven-year loan has a 7% interest rate payable in quarterly payments equal to 1% of the principal annually. The balance would be due on the maturity date. TA can prepay the loan after two years at par.

Assets pledged

The loan is secured by a pledge of all the equity interests of “substantially all of TA’s wholly owned subsidiaries. Most other TA assets are on the line as well, according to a company press release issued after the markets closed Monday.

TA will use the proceeds for general business purposes. That includes funding of deferred capital expenditures, updates to key IT infrastructure, and growth initiatives in Pertchik’s transformation plan. Pertchik is a veteran turnaround expert hired as CEO a year ago this week. 

“By closing this new loan, we have further strengthened our balance sheet and given ourselves increased flexibility in a dynamic capital environment,” he said.

Pertchik’s restructuring

Pertchik’s hired a new chief financial officer and executive vice presidents to oversee restaurants, gaming and convenience stores, corporate development, and information technology. The sweeping reorganization in May included cutting 130 corporate positions.

TA is pursuing franchisees to take over existing truck stops to grow the TA, Petro Stopping Centers and TA Express travel center brands. TA is focused on converting good-quality, well-located independent truck stops to the TA model, Pertchik told FreightWaves in a March interview.

Taking care with loan money

“As we look ahead to 2021, we have the people, the plan, the processes and now the liquidity to advance our transformation playbook,” he said in the press release.

TA is being careful with the loan money, Pertchik said. The travel center network operator has 270 locations in 44 states and Canada. It is managing through the pandemic with little certainty of what lies ahead.

TA has closed, reopened and closed dine-in restaurants in many states because of the pandemic. It laid off more than 3,000 employees in March. Business conditions allowed some to return.

Related articles:

TravelCenters of America reprices sales lower but stock falls again

Veteran turnaround expert takes on TravelCenters of America makeover

TravelCenters lays off more than 3,000 as full-service restaurants idled

Click for more FreightWaves articles by Alan Adler.

Sours: https://www.freightwaves.com/news/travelcenters-of-america-goes-all-in-for-200m-loan

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TravelCenters of America

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This article needs to be updated. Please help update this article to reflect recent events or newly available information.(October 2021)

TravelCenters of America LLC is the largest publicly traded full-service truck stop and travel center company in the United States. The company operates full service centers, convenience stores, and restaurants under the TravelCenters of America, TA, Petro Stopping Centers, TA Express, GOASIS and Quaker Steak & Lube brands. TravelCenters of America is headquartered in Westlake, Ohio,[2] operates in 44 U.S. states and 1 Canadian province, and employs nearly 20,000 people, as of 2021.

Description and corporate affairs[edit]

TravelCenters of America (TA) is an operator of truck stops and travel centers in the United States,[1] with approximately 270 full-service locations along the Interstate Highway System in 44 U.S. states and in Canada, plus standalone restaurants in more than 10 states, as of 2018.[3][4] The publicly traded limited liability company is headquartered in Westlake, Ohio and employs nearly 20,000 people.[1]

Divisions of TA include TA Restaurant Group and TA Truck Service. Brands include TravelCenters of America, TA, and Petro Stopping Centers; approximately 40 restaurants generally operate under the Quaker Steak & Lube brand. Together, these brands offer diesel fuel and gasoline, full service and fast food restaurants, maintenance and repair service for trucks, and groceries and convenience goods, among other products and services.[3]

Jon Pertchik became chief executive officer (CEO) in 2019. Barry Richards serves as president, and in 2020, Peter J. Crage was named executive vice president (EVP), chief financial officer (CFO), and treasurer.

History[edit]

TravelCenters of America was established by Phil Saunders in 1972 as Truckstops of America.[5] The company was among the first truck stop chains in the nation, and was purchased by Ryder later that year.[6]Standard Oil of Ohio acquired the chain in 1984. After Standard Oil was purchased by BP, the multinational oil and gas company sold TA to Clipper Group in 1993.[6] The chain merged with National Auto/Truckstops in 1997, resulting in the new name TravelCenters of America Inc. (TA).[6] In the late 1990s, TA purchased seventeen Burns Bros. Travel Stops, then merged with over a dozen units of Travel Ports of America.[6] By 2000, the company had 160 locations in 40 U.S. states, 12,500 employees, and annual sales of $1.5 billion.[6] TA was acquired by Oak Hill Capital Partners in 2000.[7]

TA ranked #94 and #60 on Forbes' list of the largest private companies in 2005 and 2006, respectively.[5] In 2006, Hospitality Properties Trust (HPT) agreed to acquire the company for approximately $1.9 billion.[7] The acquisition was completed in January 2007, and TA shares started being traded on the American Stock Exchange on February 1.[8] TA continued operating as a fully owned subsidiary of HPT, which continued to be TA's largest shareholder, as of mid 2015.[9] In May 2007, TA acquired the operating businesses of the El Paso-based Petro Stopping Centers, and leased 40 Petro locations from HPT.[10][11]

RDG Capital Management encouraged TA to implement a $100 million share repurchase plan in 2015 to increase its stock price,[12] in addition to leasing and selling more company-owned properties.[13] TA elected to sign an approximately $400 million sale leaseback deal with HPT.[14][9] In mid 2016, the company's board of directors rejected a buyout submitted by the private equity firm Golden Gate Capital in December 2015. The offer was for $14 per share, valuing TA at $540 million.[14][15][16] TA filed a lawsuit against Comdata in November in response to the payment processor provider's allegations that TA breached agreements.[17] The Delaware Court of Chancery ordered Comdata to abide by contract terms and reimburse TA for excess fees charged since February 2017, plus interest and attorney's fees.[18][19] The court's final ruling is pending, as of March 2018.[20]

During 2015–2017, TA remodeled 56 Minit Mart and 24 Petro or TA locations.[21] The company has also focused on providing truckers with electronic logging devices, following a mandate issued by the Federal Motor Carrier Safety Administration in 2015.[22] TA ranked number 17 in CSP magazine's late 2017 list of the largest U.S. convenience store chains.[21][23] The company was also recognized by the Women's Forum of New York for having a board with 40 percent female representation.[24] In November 2017, president and CEO Thomas O'Brien announced his resignation effective December 31.[25][26] The board promoted Barry Richards, then serving as EVP, to the president and chief operating officer role, and named William Myers, who held the senior vice president and chief accounting officer position, to EVP, CFO and treasurer.[3][4] Adam Portnoy replaced O'Brien as the board's managing director. Andrew Rebholz became CEO in early 2018, having previously served as EVP, CFO, and treasurer.[3][4] TA sold its Minit Mart brand by the end of 2018.[27]

TA partnered with Wex in February 2018 to provide fuel card services to all TA and Petro locations throughout the U.S.[23] The company also confirmed sponsorship of the "truck service challenge" competition for the Monster Energy NASCAR Cup Series and NASCAR Xfinity Series.[28][29] TA expanded its Westlake headquarters in March 2017 by purchasing a nearby building.[30]

In December 2019, Jon Pertchik was appointed as chief executive officer upon Andrew Rebholz resignation.

TA fundraises for the St. Christopher Truckers Development and Relief Fund, which helps truck drivers who struggle financially as the result of health issues, annually since 2010. The company is the fund's largest contributor.[31] The company has been included on the Fortune 500 list for ten years, and ranks #470, as of 2018.[1]

Divisions[edit]

TA Restaurant Group[edit]

TA Restaurant Group, a division of TravelCenters of America LLC,[32] had 43 national and regional restaurant brands and approximately 6,200 employees, as of April 2016.[33] The division operates around 850 restaurants and food stores branded as Country Pride, Iron Skillet, and Quaker Steak & Lube, among others.[34]

TA completed its purchase of the Quaker Steak & Lube restaurant chain in April 2016.[14][35] There are approximately 40 Quaker Steak & Lube restaurants in 12 states, as of 2021.[34] Quaker Steak & Lube continues to focus on franchise development.[36][37][34][38]

TA Truck Service[edit]

The TA Truck Service division offers truck maintenance and repair facilities nationwide.[39] The TA Truck Service Commercial Tire Network was unveiled in November 2016, and includes around 1,000 truck service repair shops, approximately 3,000 truck service technicians, and around 2,000 roadside assistance and maintenance vehicles, as of September 2017.[40][41] It is considered the nation's largest independent commercial tire dealer.[42][43]

In 2017, TA created the "TA Certified" label, and partnered with auction companies to certify used truck conditions before being sold.[44] The TA Truck Service National Call Center and RoadSquad emergency service operations were relocated to a new facility in Westlake in September 2017. The facility houses other TA customer support staff.[45]

References[edit]

  1. ^ abcde"470: TravelCenters of America". Fortune. 2018. Retrieved March 27, 2018.
  2. ^"TravelCenters of America". Fortune. Retrieved 2018-12-31.
  3. ^ abcdLindenberg, Greg (November 30, 2017). "Leadership Shake-Up at TravelCenters of America". CSP. Retrieved March 27, 2018.
  4. ^ abcConvenience Store News:
  5. ^ ab"The Largest Private Companies: #60 TravelCenters of America". Forbes. November 9, 2006. ISSN 0015-6914. Retrieved April 3, 2018.
  6. ^ abcdeMikolajczyk, Sigmund J. (March 24, 2000). "TravelCenters of America keeps on truckin'— moves tons of tires annually". Tire Business. Retrieved April 3, 2018.
  7. ^ ab"TravelCenters of America to be bought for $1.9 billion". Commercial Carrier Journal. September 18, 2006. Retrieved May 20, 2018.
  8. ^"Hospitality Properties Trust Completes Acquisition of TravelCenters of America". CSP magazine. January 31, 2007. Retrieved May 20, 2018.
  9. ^ abSuttell, Scott (June 2, 2015). "TravelCenters of America signs nearly $400 million sale leaseback deal with Hospitality Properties Trust". Crain's Cleveland Business. Retrieved March 27, 2018.
  10. ^"TravelCenters of America acquires Petro Stopping Centers". Commercial Carrier Journal. May 31, 2007. Retrieved May 20, 2018.
  11. ^"Petro Stopping Centers Acquired by REIT and Travel Centers of America". Convenience Store News. June 1, 2007. Retrieved May 20, 2018.
  12. ^Suttell, Scott (August 18, 2015). "RDG Capital Fund Management urges TravelCenters of America to launch $100 million share buyback plan". Crain's Cleveland Business. Retrieved March 27, 2018.
  13. ^Bullard, Stan (May 10, 2015). "TravelCenters is urged to sell, then lease, stores". Crain's Cleveland Business. Retrieved March 27, 2018.
  14. ^ abcSuttell, Scott (June 16, 2016). "TravelCenters of America confirms it received, rejected a buyout offer". Crain's Cleveland Business. Crain Communications. Retrieved March 27, 2018.
  15. ^Jarzemsky, Matt; Benoit, David (June 16, 2016). "TravelCenters of America Rebuffed Bid From Golden Gate Capital". The Wall Street Journal. ISSN 0099-9660. OCLC 781541372. Retrieved March 30, 2018.
  16. ^"TravelCenters of America Rejected Buyout Bid". CSP. June 15, 2016. Retrieved March 30, 2018.
  17. ^Jarboe, Michelle. "TravelCenters of America details costs of fuel-card dispute, amid litigation". The Plain Dealer. Advance Publications. Retrieved March 30, 2018.
  18. ^Hals, Tom (September 11, 2017). "TravelCenters of America wins lawsuit vs. Comdata over merchant fees". Reuters. Retrieved March 29, 2018.
  19. ^Jarboe, Michelle (September 12, 2017). "TravelCenters of America emerges victorious from legal fight with fuel-card provider Comdata". The Plain Dealer. Retrieved March 29, 2018.
  20. ^Romano, Danielle (March 13, 2018). "Dispute Between TravelCenters & Comdata Still Not Resolved". Convenience Store News. Retrieved March 28, 2018.
  21. ^ abAbcede, Angel; Lindenberg, Greg (November 2017). "Ranking the Top 40 C-Store Chains: A Year-End Review: 17. TravelCenters of America LLC". CSP. Retrieved March 28, 2018.
  22. ^"TravelCenters Aims to Be Electronic Logging Headquarters". Convenience Store News. September 6, 2017. Retrieved March 30, 2018.
  23. ^ abLewis, Jackson (February 27, 2018). "TravelCenters of America to Accept Wex Fleet Cards". CSP. Retrieved March 28, 2018.
  24. ^"TravelCenters of America Recognized for Women's Leadership". Tire Review. November 15, 2017. Retrieved April 2, 2018.
  25. ^Jarboe, Michelle (November 30, 2017). "TravelCenters of America CEO to step down Dec. 31, after nearly 11 years in the job". The Plain Dealer. Retrieved March 29, 2018.
  26. ^Suttell, Scott (November 30, 2017). "CEO of TravelCenters of America will leave the company at year's end". Crain's Cleveland Business. Retrieved March 29, 2018.
  27. ^Dec. 07, Greg Lindenberg on; 2018. "TravelCenters of America Completes Minit Mart Sale". CSP Daily News. Retrieved 2021-02-08.CS1 maint: numeric names: authors list (link)
  28. ^"TA to sponsor special "truck challenge" event at select NASCAR races". American Trucker. February 22, 2018. Retrieved April 2, 2018.
  29. ^"TravelCenters of America Sponsor NASCAR Challenge". Tire Review. February 22, 2018. Retrieved April 2, 2018.
  30. ^Bullard, Stan (March 19, 2017). "TravelCenters buys former Catan's spot". Crain's Cleveland Business. Retrieved April 2, 2018.
  31. ^"TravelCenters of America Reaches Out to Truckers in Need". Heavy Duty Trucking. July 21, 2017. Retrieved March 30, 2018.
  32. ^"Bob Evans Joins TravelCenters' Restaurant Portfolio". Convenience Store News. April 3, 2017. Retrieved April 3, 2018.
  33. ^Suttell, Scott (April 21, 2016). "TravelCenters of America now has Quaker Steak & Lube on its plate". Crain's Cleveland Business. Retrieved March 27, 2018.
  34. ^ abc"TA's Quaker Steak & Lube Seeks Non-Traditional Locations". Convenience Store News. March 12, 2018. Retrieved March 29, 2018.
  35. ^"TravelCenters of America Closes on Quaker Steak & Lube Acquisition". Convenience Store News. April 21, 2016. Retrieved April 2, 2018.
  36. ^"TA opens first Quaker Steak & Lube Express". American Trucker. January 11, 2018. Retrieved April 3, 2018.
  37. ^"TravelCenters Introduces Quaker Steak & Lube Express Walk-Up Concept". Convenience Store News. January 17, 2018. Retrieved April 2, 2018.
  38. ^Lancaster, Alaina (January 29, 2018). "TA to Grow Quaker Steak & Lube Division". CSP. Retrieved April 2, 2018.
  39. ^Jaillet, James (April 1, 2016). "A/Petro rebrands truck repair program under newly expanded TA Truck Service". Commercial Carrier Journal. Retrieved May 9, 2018.
  40. ^Zielasko, Dave (June 13, 2017). "TravelCenters of America finds growth with commercial tire network". Crain's Cleveland Business. Retrieved March 30, 2018.
  41. ^"TA Truck Service Moves Into New Call Facility". Convenience Store News. September 29, 2017. Retrieved 2019-10-26.
  42. ^"TravelCenters of America Forms TA Truck Service Commercial Tire Network". Modern Tire Dealer. November 2, 2016. Retrieved April 3, 2018.
  43. ^Mikolajczyk, Sigmund J. (November 3, 2016). "SEMA: TravelCenters of America launches 'biggest' commercial dealership". Tire Business. Retrieved April 3, 2018.
  44. ^"TA Truck Service Turns Attention to Smaller Fleets". Heavy Duty Trucking. November 1, 2017. Retrieved March 30, 2018.
  45. ^"New call center for TA Roadsquad". American Trucker. September 6, 2017. Retrieved April 2, 2018.
Sours: https://en.wikipedia.org/wiki/TravelCenters_of_America


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