HALIFAX, April 21 /CNW/ - At the request of Market Surveillance on behalf of the Toronto Stock
Exchange, Holloway Lodging Real Estate Investment Trust (TSX:HLR.UN) ("Holloway")
stated that it is not aware of any corporate or other developments that
would account for the trading activity in Holloway's units on April 21,
2011. Holloway also confirmed that, as previously disclosed, it
continues to explore alternatives to raise funds to repay its 8%
convertible debentures due August 1, 2011, which may include debt
financing, the sale of certain properties or some combination thereof.
Holloway is currently engaged in ongoing negotiations with respect to a
potential refinancing transaction, but there can be no assurance that
such negotiations will ultimately lead to a transaction.
ABOUT HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST
Holloway is a real estate investment trust 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 currently owns 22 hotels with 2,386 rooms.
Holloway's units and convertible debentures trade on the Toronto Stock
Exchange under the symbols HLR.UN, HLR.DB and HLR.DB.A, respectively.
SOURCE Holloway Lodging Real Estate Investment Trust
For further information:
Mr. Glenn Squires, Chief Executive Officer
Tracy Sherren, Chief Financial Officer