TravelCenters of America Rejoins Fortune 500 During 50th Anniversary Year
Achievement Follows Successful Progress on TA’s Transformation Plan, Including Significant Enhancements to Guest Experience, Business Growth and Shareholder Value Creation
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.