Not for distribution on U.S. wire services or for dissemination in the
HALIFAX, Feb. 28, 2012 /CNW/ - Holloway Lodging Real Estate Investment
Trust (TSX: HLR.UN) ("Holloway" or the "REIT") announces the following
Felix Seiler has been appointed Chief Operating Officer of Holloway.
Jane Rafuse has been appointed Chief Financial Officer of Holloway.
Michael Rapps, Chairman of Holloway, will cease to act as Interim Chief
Financial Officer. Mr. Rapps will remain involved in the management of
Holloway during a transition period.
Mr. Seiler has significant experience in the management and operation of
hotels, most recently serving as Regional Vice President of Pacrim
Hospitality Services Inc. with responsibility for 10 of Holloway's
hotels in Northern Alberta and British Columbia. Prior to that, Mr.
Seiler held various roles of increasing seniority in the hospitality
Ms. Rafuse has been Vice President, Finance of Holloway since June 2006.
Prior to joining Holloway, Ms. Rafuse acted as Corporate Controller for
Jacques Whitford Limited and Director of Finance and Controller at The
Maritime Assurance Life Company. Ms. Rafuse received her Bachelor of
Business Administration from Acadia University in 1987 and holds
designations as a Certified Management Consultant and a Chartered
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. Holloway owns 18 hotels with 1,747 rooms.
Holloway's trust units trade on the TSX under the symbol HLR.UN.
This press release contains forward-looking information within the
meaning of applicable securities laws. Forward-looking information may
relate to the REIT's future outlook and anticipated events or results
and may include statements regarding the future financial position,
business strategy, financial results and plans and objectives of the
REIT. 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 the REIT 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, 2010
which is available on the REIT's profile on the SEDAR website at www.sedar.com. The REIT does not intend to update or revise any such forward-looking
information should its assumptions and estimates change.
SOURCE HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST
For further information:
please contact Michael Rapps, Chairman of the REIT, at (416) 855-1925