October 01, 2008 18:49 ET
Royal Host Announces Acquisition of InnVest REIT Units
CALGARY, ALBERTA--(Marketwire - Oct. 1, 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) today announced that it has acquired ownership of 3,140,000 trust units of InnVest Real Estate Investment Trust ("InnVest") at a cost of $8.50 per trust unit, representing approximately 4.2% of the total outstanding trust units of InnVest. Royal Host now holds 9,867,300 trust units of InnVest, representing approximately 13.3% of the total outstanding trust units of InnVest.
The purchase of the InnVest trust units by Royal Host was made through the facilities of The Toronto Stock Exchange for investment purposes. Royal Host may, in the future, take such actions in respect of its holdings as it may deem appropriate in light of the circumstances then existing, including the purchase of additional securities of InnVest through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.
Royal Host is a uniquely diversified hospitality trust that delivers Unitholder value through hotel ownership, investment, management and franchising. Royal Host's portfolio of Canadian hotels operates under a variety of recognizable brands as well as a number of unbranded properties. The Trust's hotel portfolio is further enhanced by a stable franchising business, a successful hotel management operation, and a portfolio of publicly-traded securities from within the hospitality and service sectors.
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.
For more information, or for a copy of the early warning report required to be filed by securities legislation, please contact A. Brad Cann, C.A.