Holloway Lodging Corporation

11:50 AM EST - Holloway Lodging Corporation : Has sold the Travelodge® hotel located in Belleville, ON. The sale price for the hotel was $7.0 million representing a cap rate of approximately 4.2% (after adding back to net operating income certain one-time severance and restructuring expenses incurred in 2016). Holloway will use the sale proceeds to repay the mortgage on the property and will hold the remaining sale proceeds as cash on hand. Holloway Lodging Corporation shares T.HLC are trading down $0.05 at $5.45.