Holloway Lodging Corporation announces annual meeting election results, resignation and appointment of director and revised dividend payment date

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HALIFAX, May 14, 2013 /CNW/ - Holloway Lodging Corporation (TSX: HLC) ("Holloway") today announced the final director election results from its 2013 annual general meeting of shareholders held on May 14, 2013.  The following six nominees were elected as directors of Holloway to serve until the next annual meeting of shareholders or until their successors are elected or appointed:

Nominees:
George Armoyan
Richard Grimaldi
Michael Phelan
Michael Rapps
Marc Staniloff
David Wood

Following the meeting, Mr. George Armoyan resigned as a Director of Holloway. Holloway would like to take this opportunity to thank Mr. Armoyan for his contribution to the transformation of Holloway over the last several years.

Holloway is pleased to announce the appointment of Dr. Dustin Haw, as a member of its Board of Directors, to fill the vacancy resulting from Mr. Armoyan's resignation. Dr. Haw is an investment analyst at Geosam Capital Inc. ("Geosam"), a private investment company specializing in small and mid-capitalization companies, with a focus on real estate and industrial investments.  Prior to joining Geosam, Dr. Haw was a research associate at the University of Western Ontario.  Dr. Haw holds a PhD in physics from the University of Western Ontario.

In addition, Holloway announces that the payment of its quarterly dividend will occur on June 14, 2013 rather than June 17, 2013 as described in its press release dated May 13, 2013.

ABOUT HOLLOWAY LODGING CORPORATION

Holloway is a real estate corporation focused on acquiring, owning and operating select and limited service lodging properties and a small complement of full service hotels primarily in secondary, tertiary and suburban markets. Holloway owns 18 hotels with 1,798 rooms. Holloway's shares trade on the TSX under the symbol HLC.

This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information may relate to Holloway's future outlook and anticipated events or results and may include statements regarding Holloway's future financial position, business strategy, financial results, plans and objectives In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Forward looking-information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what Holloway currently expects and there can be no assurance that such statements will prove to be accurate. Some of these risks and uncertainties are described under "Risk Factors" in Holloway's Annual Information Form ("AIF"), dated March 11, 2013 which is available at www.sedar.com. Holloway does not intend to update or revise any such forward-looking information should its assumptions and estimates change.

SOURCE: Holloway Lodging Corporation

For further information:

For further information please contact Michael Rapps, Chairman, at (416) 855-1925 or Jane Rafuse, Chief Financial Officer, at (902) 443-5101.


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