Royal Host Real Estate Investment Trust

Royal Host Real Estate Investment Trust

January 22, 2008 15:01 ET

Royal Host REIT Announces Executive Appointments

CALGARY, ALBERTA--(Marketwire - Jan. 22, 2008) - Royal Host Real Estate Investment Trust ('Royal Host' or the 'Trust') (TSX:RYL.UN) (TSX:RYL.DB.A) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) is pleased to announce the appointments of Patrick Lambie to the position of Executive Vice President and Brad Cann to the position of Executive Vice President and Chief Financial Officer. Messrs. Lambie and Cann will be responsible for developing the strategic initiatives of the Trust and leading Royal Host's executive team in day-to-day operations.

Patrick Lambie's career in the hotel industry spans over 20 years, and he has held various management positions with Royal Host, most recently Vice President and Treasurer.

Brad Cann joined Royal Host in 2004 and has held various senior management positions, assuming the position of Vice President and Chief Financial Officer in 2007.

In addition, Joe Drummond has been appointed to the position of Executive Vice President, Hotel Operations. Mr. Drummond will be responsible for overseeing the operation of owned and managed hotels; he has been in the hospitality industry for over 35 years and has a proven track record in operations management.

"These appointments recognize the positive contributions made by each of these individuals to Royal Host and reflect the Board's confidence in the capacity of our entire executive team to continue delivering value to our Unitholders," said George Armoyan, Chairman of the Board of Trustees of Royal Host.

Royal Host is a fully-integrated hotelier focused on hotel ownership, management and franchising and is Canada's second-largest hotel Real Estate Investment Trust.

Royal Host owns a diversified portfolio of 37 properties, comprising 4,500 guest rooms. The portfolio includes limited, focused and full-service hotels in the mid-market to upscale hospitality segments, and is well represented throughout Canada operating under such recognizable brands as Best Western®, Country Inns & Suites®, Hilton®, Holiday Inn®, Ramada®, Super 8®, Thriftlodge® and Travelodge®, as well as a number of unbranded properties such as the Chimo Hotel in Ottawa and the Grand Okanagan Resort and Conference Centre in Kelowna.

In addition to providing management services to its own portfolio, Royal Host's team manages a number of properties on behalf of third parties using its proven training programs, operating procedures, revenue and yield management systems and sales programs.

Royal Host also owns the master franchise rights for Travelodge® and Thriftlodge® in Canada. Through its subsidiary, Travelodge Canada, Royal Host currently franchises over 100 locations, 15 of which are owned by the Trust, and receives a stable stream of revenue through monthly royalty fees paid by licensed hotel owners and by selling franchise licenses, which enhances the overall diversity of Royal Host's portfolio.

Royal Host trust units and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL.UN", "RYL.DB.A", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D", respectively.

Contact Information

  • Royal Host Real Estate Investment Trust
    A. Brad Cann, C.A.
    Executive Vice President and Chief Financial Officer
    (403) 259-9800
    (403) 259-8580 (FAX)