Holloway Lodging Corporation announces combination of Series B and Series D debentures into a single class

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HALIFAX, Oct. 14, 2014 /CNW/ - Holloway Lodging Corporation ("Holloway") (TSX: HLC HLC.DB HLC.DB.A HLC.DB.B) announced on July 29, 2014 that it received approval from the holders of its Series B 6.25% convertible unsecured debentures due October 31, 2020 (the "Series B Debentures") and its Series D 6.25% convertible unsecured debentures due June 30, 2019 (the "Series D Debentures") for the consolidation of such debentures into a single series of debentures.

Holloway announced today that in accordance with the terms of the indenture governing its debentures, it is providing notice that effective October 31, 2014, the maturity date of the Series B Debentures shall be amended to February 28, 2020 and the Series D Debentures shall be re-designated as "Series B 6.25% Convertible Unsecured Subordinated Debentures" and on and after such date shall have the same terms as, and form part of, the Series B Debentures.

A detailed description of these amendments is set out in Royal Host Inc.'s joint management information circular dated July 2, 2014 and available at www.sedar.com.

ABOUT HOLLOWAY LODGING CORPORATION

Holloway is a real estate corporation 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. Holloway owns 36 hotels with 4,260 rooms.  Holloway's shares trade on the TSX under the symbol HLC.

This press release contains forward-looking information within the meaning of applicable securities laws.  Forward-looking information may relate to Holloway's future outlook and anticipated events or results and may include statements regarding Holloway's future financial position, business strategy, financial results, plans and objectives. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.  Forward-looking information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what Holloway currently expects and there can be no assurance that such statements will prove to be accurate.  Some of these risks and uncertainties are described under "Risk Factors" in Holloway's annual information form for the year ended December 31, 2013 which is available on Holloway's profile on the SEDAR website at www.sedar.com.  Holloway does not intend to update or revise any such forward-looking information should its assumptions and estimates change.

SOURCE: Holloway Lodging Corporation

Michael Rapps, Chairman, at [phone]; or Jane Rafuse, Chief Financial Officer, at [phone]