Holloway Lodging Real Estate Investment Trust Announces Changes to Board of Trustees

    HALIFAX, Aug. 27 /CNW/ - Holloway Lodging Real Estate Investment Trust
(TSX: HLR.UN, HLR.DB, HLR.DB.A) ("Holloway" or the "REIT") today announced
that Edward Good has resigned from his position as a trustee of the REIT,
effective August 26, 2008, in order to focus on other business opportunities.
"Ted has played an important role in Holloway's formation and development,"
said Walter Keyser, chairman of the REIT's board of trustees. "We thank him
for his valuable contributions and wish him success in his new endeavours."
    To fill the vacancy created by Mr. Good's resignation, Holloway's board
of trustees has appointed Michael Jackson, Holloway's President and Chief
Operating Officer, as a trustee. Mr. Jackson's appointment is for a term
expiring at the close of Holloway's next annual meeting of unitholders or
until his successor is elected or appointed.

    About Holloway

    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, Mr.
Michael Jackson, President and Chief Operating Officer or Ms. Tracy Sherren,
Chief Financial Officer, (902) 457-1907

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Holloway Lodging Real Estate Investment Trust

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