InnVest Real Estate Investment Trust
TSX : INN.UN

InnVest Real Estate Investment Trust

April 19, 2011 16:30 ET

Innvest Real Estate Investment Trust Announces Monthly Distribution

TORONTO, ONTARIO--(Marketwire - April 19, 2011) - InnVest Real Estate Investment Trust (TSX:INN.UN) announced today that a combined distribution of $0.0417 per stapled unit, payable on May 16, 2011, has been declared to the holders of record as at the close of business April 29, 2011. The combined distribution is made up of a distribution of $0.035445 per unit of InnVest Real Estate Investment Trust and $0.006255 per non-voting unit of InnVest Operations Trust.

TRUST PROFILE

InnVest Real Estate Investment Trust (the "REIT") is an unincorporated open-ended real estate investment trust which owns a portfolio of 144 hotels across Canada representing approximately 19,000 guest rooms operated under internationally recognized brands. The REIT leases its hotels to InnVest Operations Trust ("IOT"), a taxable investment trust. IOT indirectly holds all of the hotel operating assets, earns revenues from hotel customers and pays rent to the REIT. IOT also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada, and earns revenues from franchising fees.

Each issued and outstanding REIT unit trades together with a non-voting unit of IOT as a "stapled unit" on the Toronto Stock Exchange (the "TSX") under the symbol INN.UN. InnVest REIT's convertible debentures trade on the TSX under the symbols INN.DB.B, INN.DB.C, INN.DB.D, INN.DB.E and INN.DB.F.

Contact Information

  • InnVest Real Estate Investment Trust
    Kenneth Gibson
    President and Chief Executive Officer
    (905) 206-7100
    (905) 206-7114

    InnVest Real Estate Investment Trust
    Tamara Lawson
    Chief Financial Officer and Corporate Secretary
    (905) 206-7100
    (905) 206-7114
    www.innvestreit.com