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Press Release: Royal Host Real Estate Investment Trust
September 24, 2002
CALGARY, ALBERTA -- Royal Host Real Estate Investment Trust announced yesterday that it has been granted rights
to be the exclusive Canadian developer for the Country Hearth Inns brand.
Country Hearth Inns are mid-priced, limited service hotels that serve both the business and leisure traveler. The
hotels combine the at-home atmosphere of a bed-and-breakfast, including country decor, a complimentary "InnCredible
Breakfast", manager's reception and free local phone calls - all with the standard conveniences of a modern
hotel.
Currently, there are more than 60 Country Hearth Inns located primarily in the mid-western and southern United
States. Buckhead America Corp., an Atlanta-based hospitality service company, owns the brand.
Under a master license agreement, Royal Host will be the exclusive developer for Country Hearth Inns in Canada
for the next 10 years. Royal Host Real Estate Investment Trust owns 38 hotels, manages 78 properties and franchises
over 100 locations for more than 16,000 guestrooms in the mid-market to upscale segments. Royal Host also owns
the Travelodge Master Franchise in Canada, provides hotel and resort management services for the portfolio and
to third party properties, markets vacation intervals in hotels and resorts, and operates a facility for customers
to trade and bank prepaid vacation weeks. Royal Host units are traded on the Toronto Stock Exchange (RYL.UN).
Royal Host has proven itself as a successful master franchisor in Canada with the growth of the Travelodge hotel
brand. Royal Host has owned the Canadian franchise rights for Travelodge since 1996. Under Royal Host's direction,
Travelodge has become the third largest accommodation brand in Canada, and has grown by over 50% to a total of
118 properties today.
Douglas C. Collins, president of the Country Hearth Inns franchising system stated, "We welcome Royal Host
as a partner in growing the Country Hearth Inns system. Our expansion into Canada will open new markets and strengthen
the reach of all Country Hearth Inn franchisees.
"Royal Host reviewed a number of mid-market hospitality brands before adding Country Hearth Inns to our franchising
portfolio," says Randy Royer, President of Royal Host "We believe the people and the concept are a good
fit for us and a good value for the franchise community in Canada."
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Contact: Royal Host Real Estate Investment Trust Peter Sikora Chief Financial Officer Phone: (403) 259-9800 Fax: (403) 259-8580 Email: investorinfo@royalhost.com Website: www.royalhost.com
Source: Royal Host Real Estate Investment Trust