Holloway Lodging Real Estate Investment Trust announces grant of options



    /NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE
    UNITED STATES/

    HALIFAX, March 6 /CNW/ - Holloway Lodging Real Estate Investment Trust
(TSX: HLR.UN) (the "REIT") announced yesterday that it has granted options to
acquire an aggregate of 473,685 units to trustees and employees of the REIT
and an aggregate of 16,182 units to employees of Pacrim Hospitality
Services Inc., the REIT's property manager. These options are exercisable at a
price of $3.41 per unit until March 5, 2013. One-third of the options may be
exercised immediately, one-third will vest on March 5, 2009 and one-third will
vest on March 5, 2010.
    %SEDAR: 00023845E




For further information:

For further information: Mr. Glenn Squires, Chief Executive Officer of
the REIT; Mr. Michael Jackson, President and Chief Operating Officer of the
REIT; Tracy Sherren, Chief Financial Officer of the REIT; (902) 457-1907

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Holloway Lodging Real Estate Investment Trust

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