Press Release
November 3, 2000
CALGARY, ALBERTA -- Royal Host Real Estate Investment Trust (REIT) yesterday announced that it has completed mortgage
financing of $17.1 million. Approximately $15.3 million of the proceeds of the financing are being used to pay
down floating rate debt. The remaining proceeds, net of costs, will be used primarily to renovate and upgrade a
number of the mortgaged properties. The cost of the debt is 9.3% and has a term of 10 years.
``We are pleased that we have been able to secure additional fixed rate financing in a very tight debt market.''
say R. B. Royer, President and CEO of Royal Host. ``This transaction also allows us to put more investment into
our properties thereby paving the way for greater future returns.''
Royal Host REIT owns 36 hotels, manages 78 properties and franchises 83 locations for almost 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, market vacation intervals
in hotels, and operates a facility for customers to trade and bank prepaid vacations weeks.
Royal Host maximizes earnings while balancing risk for its unitholders through efficient operations, strong marketing
and a focus on providing travelers with superior accommodations and travel experiences. Royal Host units are traded
on the Toronto Stock Exchange (RYL.UN)
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Contact:
Royal Host Real Estate Investment Trust Peter Sikora Chief Financial Officer (403) 259-9800 (403) 259-8580 Email: investorinfo@royalhost.com Website: www.royalhost.com