Business & Finance
Sat, October 22, 2011Fri, October 21, 2011Thu, October 20, 2011Wed, October 19, 2011Tue, October 18, 2011Mon, October 17, 2011Sun, October 16, 2011Sat, October 15, 2011Fri, October 14, 2011Thu, October 13, 2011Royal Host Announces Sale of Hotel
Published in Business and Finance on Tuesday, October 18th 2011 at 14:48 GMT by Market Wire
October 18, 2011 17:37 ET
Royal Host Announces Sale of Hotel
HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 18, 2011) - Royal Host Inc. (TSX:RYL) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) – ("Royal Host" or the "Company") today announced that it had completed the previously disclosed sale of the Best Western Village Park Inn, located in Calgary, Alberta (the "Best Western Hotel"). The Company sold the 159-room Best Western Hotel for $23.0 million. The purchase price includes the assumption of approximately $7.1 million of mortgage debt.
About Royal Host
Royal Host is a diversified hospitality company that delivers shareholder value through hotel ownership, investment and franchising. The Company's hotels, which contain 3,258 rooms, are located in four Provinces and Territories across Canada. Twenty-four of the Company's hotels operate under internationally recognized brands such as Travelodge®, Super 8®, Holiday Inn®, Hilton®, Ramada®, Country Inns & Suites® and Thriftlodge®. Two of the Company's hotels are unbranded. In addition to its real estate holdings, the Company owns and operates the Travelodge Canada franchise business which is currently comprised of over 90 hotels across nine Provinces and Territories.
Royal Host's common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D" respectively.
This press release may contain certain forward-looking statements relating, but not limited to, Royal Host's operations, anticipated financial performance, business prospects, and strategies. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such factors include, but are not limited to, economic, competitive, and lodging industry conditions. Royal Host disclaims any responsibility to update any such forward-looking statements except as required by Law.
This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.
