NEWS RELEASE TRANSMITTED BY CCN - A NEWSWIRE SERVICE OF ITG

FOR:  ROYAL HOST REAL ESTATE INVESTMENT TRUST

TSE SYMBOL:  RYL.UN

NOVEMBER 2, 2000 - 09:00 EST

Royal Host Announces Completion of Debt Refinancing

CALGARY, ALBERTA--Royal Host Real Estate Investment Trust (REIT) 
today 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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FOR FURTHER INFORMATION PLEASE CONTACT:
Royal Host Real Estate Investment Trust
Peter Sikora
Chief Financial Officer
(403) 259-9800
(403) 259-8580 (FAX)
Email: investorinfo@royalhost.com
Website: www.royalhost.com