TORONTO, Jan. 11, 2016 /CNW/ - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that Mr. Majid Mangalji has retired from InnVest's Board of Trustees. Mr. Mangalji is Founder and President of the Westmont Group and was Chair of the Board of InnVest from 2002 to June 2015, when the Board granted him the Chairman Emeritus designation.
"We thank Majid for his leadership in establishing and fostering the growth of InnVest REIT, and in tribute we have honored him with the title of Chairman Emeritus," said Edward Pitoniak, Chair of the Board. "Majid is one of the world's most successful hoteliers and we're glad to be able to continue our relationship with him through both his Emeritus designation and through our partnership with Westmont."
About InnVest REIT
InnVest Real Estate Investment Trust is an unincorporated open-ended real estate investment trust which owns a portfolio of approximately 109 hotels across Canada representing over 14,000 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada. InnVest's units and convertible debentures trade on the Toronto Stock Exchange (the "TSX") under the symbols INN.UN, INN.DB.E, INN.DB.F and INN.DB.G.
SOURCE InnVest Real Estate Investment Trust
For further information: Denise Achonu, Vice President, Finance, Tel: (416) 607 2333, Website: www.innvestreit.com