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, Jan. 21 /CNW/ - Holloway Lodging Real Estate Investment Trust
(TSX: HLR.UN) ("Holloway" or the "REIT") announced today a distribution of
$0.0175 per unit for the month of January 2009, payable on or before February
13, 2009 to unitholders of record on January 30, 2009.
    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 $0.0175 per limited partnership unit for the month of January payable
on or before February 13, 2009.
    The REIT has 38,801,716 units issued and outstanding and 333,500 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 39,135,216 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 2,423 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; Mr. Michael Jackson, President and Chief Operating Officer of the
REIT; Tracy Sherren, Chief Financial Officer of the REIT, (902) 404-3499

Organization Profile

Holloway Lodging Real Estate Investment Trust

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