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HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST COMMENTS ON TRADING ACTIVITY

^{Published on 2011-04-21 12:46:01 - Market Wire}
 

HALIFAX, April 21 /CNW/ - At the request of Market Surveillance on behalf of the Toronto Stock Exchange, Holloway Lodging Real Estate Investment Trust (TSX:HLR.UN) ("Holloway") stated that it is not aware of any corporate or other developments that would account for the trading activity in Holloway's units on April 21, 2011.  Holloway also confirmed that, as previously disclosed, it continues to explore alternatives to raise funds to repay its 8% convertible debentures due August 1, 2011, which may include debt financing, the sale of certain properties or some combination thereof.  Holloway is currently engaged in ongoing negotiations with respect to a potential refinancing transaction, but there can be no assurance that such negotiations will ultimately lead to a transaction.

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 currently owns 22 hotels with 2,386 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.