Holloway Lodging Corp. announces appointment of Michael Phelan as director

Jan 15, 2013, 07:58 ET from HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST

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HALIFAX, Jan. 15, 2013 /CNW/ - Holloway Lodging Corporation (TSX: HLC) ("Holloway") is pleased to announce the appointment of Michael Phelan as a director of Holloway.

Mr. Phelan is President and Chairman of The Valuations Group, Inc. ("TVG"), a Cambridge, Massachusetts-based real estate advisory firm co-founded by Mr. Phelan in 1994. TVG specializes in the valuation of illiquid real estate securities, investment due diligence, and real estate advisory services. Mr. Phelan holds a B.A., Economics from the University of California at Berkeley.

Michael Rapps, Holloway's Chairman, stated "We are excited to welcome Michael Phelan as a new director of Holloway. We believe Michael's significant real estate experience will be valuable to Holloway as we continue the growth of the company."

ABOUT HOLLOWAY LODGING CORPORATION

Holloway is a real estate corporation 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 1,790 rooms.  Holloway's shares trade on the TSX under the symbol HLC.

This press release contains forward-looking information within the meaning of applicable securities laws.  Forward-looking information may relate to Holloway's future outlook and anticipated events or results and may include statements regarding Holloway's future financial position, business strategy, financial results, plans and objectives. 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 Holloway 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, 2011 which is available on Holloway's profile on the SEDAR website at www.sedar.com.  Holloway 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