Canadian Hotel Income Properties Real Estate Investment Trust - August 15, 2007 deadline for 8.50% convertible debenture conversion



    HOT.un
    HOT.db
    HOT.db.a

    VANCOUVER, Aug. 10 /CNW/ - Canadian Hotel Income Properties Real Estate
Investment Trust ("CHIP REIT") convertible debenture holders may elect to
convert their 8.50% convertible debentures maturing on September 1, 2007 (the
"Debentures") into CHIP REIT trust units on or prior to August 15, 2007, the
last day on which a debenture holder can elect to convert their Debentures
prior to the maturity date. Holders of Debentures who elect to convert their
Debentures are not entitled to accrued and unpaid interest. Holders of
Debentures who do not convert their debentures by August 15, 2007 will receive
the final interest payment and the principal amount on September 1, 2007.

    CHIP REIT is an integrated hotel real estate investment trust focused on
mid-market and upscale full-service hotels. Through its large, diversified
portfolio, CHIP REIT provides investors with stable income and growth
potential through acquisitions, repositioning and franchising under banners
that include Delta, Radisson, Marriott and Hilton. CHIP REIT currently owns
and manages 32 hotels with approximately 7,700 guestrooms. In 2006, CHIP REIT
was named "Hotel Company of the Year" by Hotelier Magazine, becoming the first
REIT to win a Pinnacle Award in the hospitality industry's national
recognition program. CHIP REIT units and convertible debentures trade on the
Toronto Stock Exchange under the symbols HOT.un, HOT.db and HOT.db.a.

    %SEDAR: 00005031E




For further information:

For further information: Azim Lalani, Director, Finance, Phone: (604)
646-2447, Fax: (604) 646-2404, www.chipreit.com

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Canadian Hotel Income Properties Real Estate Investment Trust

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