Royal Host Inc.

July 04, 2011 17:19 ET

Royal Host Announces Pending Sale of Four Hotels

HALIFAX, NOVA SCOTIA--(Marketwire - July 4, 2011) - Royal Host Inc. (TSX:RYL) (TSX:RYL.DB.B) (TSX:RYL.DB.C) (TSX:RYL.DB.D) today announced that it has finalized agreements with two purchasers for the sale of the following hotels:

  • Country Inns & Suites in Winnipeg, Manitoba;
  • Country Inns & Suites in Regina, Saskatchewan;
  • Country Inns & Suites in Saskatoon, Saskatchewan; and
  • Super 8 in Regina, Saskatchewan.

All purchaser conditions have been waived by the respective purchasers, and the sale transactions are anticipated to close within the next thirty (30) to forty five (45) days.

About Royal Host

Royal Host is a uniquely diversified hospitality company that delivers shareholder value through hotel ownership, investment, and franchising. Royal Host's portfolio of Canadian hotels operates under a variety of recognizable brands as well as a number of independent properties. The Corporation's hotel portfolio is further enhanced by a stable franchising business.

Royal Host's common shares and convertible debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL", "RYL.DB.B", "RYL.DB.C" and "RYL.DB.D" respectively.

This press release contains certain forward-looking statements relating, but not limited to, Royal Host's operations, anticipated financial performance, business prospects, and strategies. Forward- looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", or similar words suggesting future outcomes. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such factors include, but are not limited to economic, competitive, and lodging industry conditions. Royal Host disclaims any responsibility to update any such forward-looking statements except as required by law.

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