Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV
Cloud Expo & Virtualization 2009 East
PLATINUM SPONSORS:
IBM
Smarter Business Solutions Through Dynamic Infrastructure
IBM
Smarter Insights: How the CIO Becomes a Hero Again
Microsoft
Windows Azure
GOLD SPONSORS:
Appsense
Why VDI?
CA
Maximizing the Business Value of Virtualization in Enterprise and Cloud Computing Environments
ExactTarget
Messaging in the Cloud - Email, SMS and Voice
Freedom OSS
Stairway to the Cloud
Sun
Sun's Incubation Platform: Helping Startups Serve the Enterprise
POWER PANELS:
Cloud Computing & Enterprise IT: Cost & Operational Benefits
How and Why is a Flexible IT Infrastructure the Key To the Future?
Click For 2008 West
Event Webcasts
Holloway Lodging Reit Announces Acquisition of Holiday Inn Express® in Stellarton, Nova Scotia

Not for distribution on U.S. wire services or for dissemination in the United States

HALIFAX, Nov. 30, 2012 /CNW/ - Holloway Lodging Real Estate Investment Trust (TSX: HLR.UN) ("Holloway") is pleased to announce that it has acquired a 90% interest in the Holiday Inn Express® hotel located in Stellarton, Nova Scotia for a purchase price of $7.9 million, net of cash acquired. Holloway paid cash on closing of $2.4 million and assumed its pro rata share of the hotel's mortgage. Holloway funded the cash purchase price using cash on hand and its credit line. Holloway expects to receive a distribution of the hotel's excess cash shortly after closing.

The purchase price, net of cash acquired, implies a cap rate of 10.3% on trailing twelve-month net operating income and 11.0% on estimated 2013 net operating income. Holloway intends to refinance the hotel's mortgage in the coming months, which will meaningfully increase the hotel's cash flow.

The Holiday Inn Express® hotel is located in Stellarton, Nova Scotia and is the leading hotel in the market. The hotel was built in 2008 and has 125 rooms, 3,000 square feet of meeting space, a pool and indoor waterslide and a fitness facility.

Michael Rapps, Holloway's Chairman, stated "This acquisition is another milestone for Holloway as it is our first acquisition since completing our balance sheet restructuring. More importantly, this acquisition is accretive to Holloway on a net asset value basis and a cash flow basis and furthers our goal of growing our net asset value per share. We expect this property to contribute close to $1.0 million of net operating income in 2013."

ABOUT HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST

Holloway is a real estate investment trust focused on acquiring, owning and operating select and limited service lodging properties and a small complement of full service hotels primarily in secondary, tertiary and suburban markets.  Holloway owns 18 hotels with 1,790 rooms.  Holloway's trust units trade on the TSX under the symbol HLR.UN.

This press release contains forward-looking information within the meaning of applicable securities laws.  Forward-looking information may relate to Holloway's future outlook and anticipated events or results and may include statements regarding Holloway's future financial position, business strategy, financial results, plans and objectives, including in particular financial and operating results of the Holiday Inn Express® hotel located in Stellarton, Nova Scotia, the payment of any cash distributions from such property after closing and Holloway's ability to refinance the mortgage on such property after closing and the expected cash flow impact of such refinancing. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.  Forward-looking information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what the REIT currently expects and there can be no assurance that such statements will prove to be accurate.  Some of these risks and uncertainties are described under "Risk Factors" in Holloway's annual information form for the year ended December 31, 2011 which is available on the REIT's profile on the SEDAR website at www.sedar.com. The REIT does not intend to update or revise any such forward-looking information should its assumptions and estimates change.

SOURCE HOLLOWAY LODGING REAL ESTATE INVESTMENT TRUST

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Cloud Developer Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at th...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that so...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all o...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been grea...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021



SYS-CON Featured Whitepapers
ADS BY GOOGLE