Royal Host Real Estate Investment Trust

Royal Host Real Estate Investment Trust

November 09, 2006 05:05 ET

Royal Host REIT Announces a 25% Increase in Monthly Distributions to $0.05 Per Unit

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2006) - Royal Host Real Estate Investment Trust (TSX:RYL.UN) (TSX:RYL.DB) (TSX:RYL.DB.A) (TSX:RYL.DB.B) (TSX:RYL.DB.C) ("Royal Host" or the "Trust") is pleased to announce that it will be increasing its monthly distribution to $0.05 per trust unit, commencing with the distribution to Unitholders of record on November 15, 2006 and payable on November 30, 2006. This is the fourth distribution increase announced since January 2005 and represents an annualized distribution rate of $0.60 per unit, an increase of 25%.

Mr. Mike Jackson, President and Chief Operating Officer of the Trust, stated, "This increase is a reflection of the strong dynamics of the hotel industry and our exceptional third quarter results."

Royal Host's core businesses are hotel ownership, management and franchising. As at September 30, 2006, Royal Host owned 37 hotels (comprising 4,500 rooms), managed an additional 89 properties for third parties, and franchised 111 locations (including 16 owned by the Trust) under the Travelodge and Thriftlodge banners, for a total of 18,000 guestrooms in the economy, mid-market and upscale hospitality segments.

Royal Host is committed to creating stable and repeatable earnings through high quality assets, efficient operations and exceptional people. Through strategic management and growth of its assets and ongoing training, communication and teamwork, it is committed to achieving ongoing improvements to its bottom line results. Royal Host Units and Convertible Debentures are traded on the Toronto Stock Exchange under the trading symbols "RYL.UN", "RYL.DB", "RYL.DB.A", "RYL.DB.B" and "RYL.DB.C", respectively.

Contact Information

  • Royal Host Real Estate Investment Trust
    Mike Jackson
    President & Chief Operating Officer
    (403) 259-9800
    Royal Host Real Estate Investment Trust
    Wayne King
    Chief Financial Officer
    (403) 259-9800
    (403) 259-8580 (FAX)