Conversion to Corporation

Holloway Lodging Real Estate Investment Trust announced that it has received an order from the Ontario Superior Court of Justice varying the effective date of the proposed conversion of the REIT into a corporate entity named "Holloway Lodging Corporation" from January 1, 2012 to December 31, 2012. This variation is not expected to have a material effect on Holloway's business or tax status. All other terms and conditions of the proposed conversion remain unchanged.