Royal Host Real Estate Investment Trust
TSX : RYL.DB.A
TSX : RYL.UN
TSX : RYL.DB
TSX : RYL.DB.B
TSX : RYL.DB.C

Royal Host Real Estate Investment Trust

December 07, 2006 16:50 ET

Royal Host to Sell Interest in U.S. Management Business

CALGARY, ALBERTA--(CCNMatthews - Dec. 7, 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") is pleased to announce that it has completed an agreement to sell its interest in its U.S. management business for a total consideration of $3.6 million U.S. cash, which closes January, 2007. Royal Host currently manages 79 properties under this U.S. portfolio. This transaction is part of Royal Host's decision to focus on its Canadian operations in hotel ownership, management and franchising.

Royal Host owns 37 hotels (comprising 4,500 rooms), and subsequent to this transaction, manages an additional 10 properties for third parties, and franchises 111 locations (including 15 owned by the Trust) under the Travelodge and Thriftlodge banners.

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
    (403) 259-8580 (FAX)
    or
    Royal Host Real Estate Investment Trust
    Wayne King
    Chief Financial Officer
    (403) 259-9800
    (403) 259-8580 (FAX)
    Email: investorinfo@royalhost.com
    Website: www.royalhost.com