Holloway Lodging Real Estate Investment Trust announces monthly distribution



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

    HALIFAX, Nov. 23 /CNW/ - Holloway Lodging Real Estate Investment Trust
(TSX: HLR.UN) ("Holloway" or the "REIT") announced today a distribution of
$0.045 per unit for the month of November 2007, payable on or before
December 14, 2007 to unitholders of record on November 30, 2007.
    Holders of units who are non-residents of Canada will be required to pay
all withholding taxes payable in respect of any distributions of income by the
REIT.
    The REIT also announced that the holders of Class B limited partnership
units of Holloway Lodging Limited Partnership (a subsidiary of the REIT) shall
receive $0.045 per limited partnership unit for the month of November payable
on or before December 14, 2007.
    The REIT has 38,716,317 units issued and outstanding and 437,000 Class B
limited partnership units of Holloway Lodging Limited Partnership issued and
outstanding (each of which is exchangeable for one REIT unit). After giving
effect to the exchange of the Class B limited partnership units, there are an
aggregate of 39,153,317 REIT units issued and outstanding.

    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 and providing investors with stable distributions. Holloway
currently owns 22 hotels with 2,424 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.
    %SEDAR: 00023845E




For further information:

For further information: Mr. Glenn Squires, Chief Executive 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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