NEWS RELEASE:

New Director of Sales & Marketing for Best Western Great Northern Sault Ste. Marie

SAULT STE. MARIE, ON (August 28, 2007) – CHIP Hospitality is pleased to announce the appointment of Sunny Naqvi as the new Director of Sales & Marketing of the Best Western Great Northern in Sault Ste Marie.

Mr. Naqvi has been with CHIP Hospitality for just over one year. In his time as Senior Sales Manager at the Best Western Great Northern, he has continuously demonstrated passion, dedication and professionalism. “We are delighted Sunny has accepted the role of Director of Sales & Marketing,” says Vesna Pejic, General Manager at the hotel, “his strong leadership skills and drive to always get the sale is inspiring to us all.”

Upon graduating from a hotel management program in London, England he proceeded to travel around the world to over 23 different countries, five of which he worked in. With over 17 years of experience in the hotel industry, Mr. Naqvi has held positions with prominent hotel groups including Inter-Continental Hotels and Hyatt International.

The Best Western Great Northern in Sault Ste. Marie offers 212 standard guestrooms and boasts the largest conference facility in Northern Ontario. With 7 meeting rooms and 14,000 sq. ft. of meeting space, the hotel has the flexibility to accommodate both large and small groups. The Best Western Great Northern is a full-service hotel, located in uptown Sault Ste. Marie, bordering Michigan, USA, making it the ideal location for meetings, business or leisure travel.

CHIP Hospitality is one of Canada’s leading hotel management companies and currently manages more than 30 hotels and resorts in Canada with more than 7,000 rooms. The company manages independent hotels and hotels operating under major franchise brands including some Delta Hotels, Crowne Plaza, Radisson, Residence Inn by Marriott, Holiday Inn, Hilton, Quality, Gouverneur, Best Western, Ramada and Coast properties. A subsidiary of CHIP REIT, CHIP Hospitality uses management strategies, upgrades, repositioning and franchising to improve the operating performance of the properties in its portfolio to create value for its investors and owners. CHIP REIT units trade on the TSX under the symbol HOT.un, HOT.db and Hot.db.a.

Contact:

Deirdre Campbell, Tartan Public Relations
Tel: (250) 592-3838 or (250) 892-9199 cell
deirdre@tartanpr.com

Holly Peterson, CHIP Hospitality
Tel: (604) 646-8787 or (604) 512-9198 cell
hpeterson@CHIPHospitality.com