HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST ANNOUNCES CHANGE TO BOARD OF
TRUSTEES

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HALIFAX, Sept. 1 /CNW/ - Holloway Lodging Real Estate Investment Trust (TSX: HLR.UN, HLR.DB and HLR.DB.A) ("Holloway" or the "REIT") announces that Walter Keyser has retired at the age of 74 from his positions as chair and trustee of the REIT. "Walter has been our chair since the inception of the REIT and we thank him for his valuable contributions", said Glenn Squires, CEO of the REIT. The Compensation and Governance Committee will be making a recommendation to the Board of Trustees on a successor.

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.

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For further information: Mr. Glenn Squires, Chief Executive Officer of the REIT; Ms. Tracy Sherren, Chief Financial Officer of the REIT, [phone]