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HALIFAX, Mar 20, 2009 (Canada NewsWire via COMTEX) -- /NOT FOR DISTRIBUTION ON U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
Holloway Lodging Real Estate Investment Trust (TSX: HLR.UN) ("Holloway" or the "REIT") announced today a distribution of $0.0175 per unit for the month of March 2009, payable on or before April 15, 2009 to unitholders of record on March 31, 2009.
Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the REIT.
The REIT also announced that the holders of Class B limited partnership units of Holloway Lodging Limited Partnership (a subsidiary of the REIT) shall receive $0.0175 per limited partnership unit for the month of March payable on or before April 15, 2009.
The REIT has 38,801,716 units issued and outstanding and 333,500 Class B limited partnership units of Holloway Lodging Limited Partnership issued and outstanding (each of which is exchangeable for one REIT unit). After giving effect to the exchange of the Class B limited partnership units, there are an aggregate of 39,135,216 REIT units issued and outstanding.
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 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
SOURCE: Holloway Lodging Real Estate Investment Trust
Mr. Glenn Squires, Chief Executive Officer of the REIT; Mr. Michael Jackson,
President and Chief Operating Officer of the REIT; Ms. Tracy Sherren, Chief Financial
Officer of the REIT, (902) 404-3499
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