An unknown buyer acquired three hotels in Atlantic Canada from Holloway Lodging Corporation (TSX:HLC) for CAD 18.2 million on September 30, 2019. Hotels under acquisition include Holiday Inn Express hotel in Stellarton, NS the Travelodge® hotel in New Glasgow, and the Travelodge® hotel in Saint John. Holloway received approximately CAD 16.8 million of proceeds after closing costs and the provision of a CAD 0.75 million second mortgage secured by two of the properties and cross-collateralized by a third property owned by the purchaser. Holloway expects to use the net sale proceeds to repay CAD 9.1 million on its amortizing mortgages and CAD 7.7 million on its revolving credit facility. An unknown buyer completed the sale of three hotels in Atlantic Canada from Holloway Lodging Corporation (TSX:HLC) on September 30, 2019