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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: David Culver who wrote (33)	1/27/1998 11:38:00 PM
From: WINDSURFER50	Read Replies (2) \| Respond to of 11633

Here's some further news about the other major REIT in the hotel biz: CANADIAN HOTEL INCOME PROPERTIES REAL ESTATE INVESTMENT TRUST ELECTS NOT TO PROCEED WITH INN ON THE PARK ACQUISITION VANCOUVER, Jan. 27 /CNW/ - Canadian Hotel Income Properties Real Estate Investment Trust (''CHIP REIT'') announced today that, based on the results of its due diligence investigations, it will not be proceeding with the previously announced acquisition of the Inn on the Park hotel in Toronto, Ontario. The acquisition had been scheduled to close in February. CHIP REIT is a growth-oriented, publicly traded Trust, which owns full service hotel properties across Canada. Since its inception in June l997, CHIP REIT has raised over $290 million in equity and has acquired twenty-three hotels through a disciplined acquisition strategy. CANADIAN HOTEL INCOME PROPERTIES REAL ESTATE INVESTMENT TRUST Rob O'Neill President & Chief Executive Officer, or Kevin Grayston Executive Vice President & Chief Financial Officer -30- For further information: Rob O'Neill, President & Chief Executive Officer, or Kevin Grayston, Executive Vice President & Chief Financial Officer, (604) 685-0011, Fax: (604) 685-0019