NEWS RELEASE:

CHIP Hospitality Announces New Director of Sales for Red Deer Lodge Hotel & Conference Centre

VANCOUVER (September 13, 2007) – CHIP Hospitality is pleased to announce the appointment of Lisa Francoeur as the Director of Sales at Red Deer Lodge Hotel & Conference Centre as of August 15th, 2007.

Ms. Francoeur began her career in 2000 at the Red Deer Lodge Hotel & Conference Centre in the department of Sales & Catering. By demonstrating drive, passion and professionalism, Ms. Francoeur was soon recognized for her achievements and named Associate of the Month. With continued success, she was then promoted into the position of Catering Manager. Under Ms. Francoeur’s leadership and guidance, there has been proven success through increased revenue and excellent guest satisfaction.

Ms. Francoeur’s qualifications also include marketing experience from Bust Loose! Holidays as well as a variety of sales training courses through CHIP Hospitality.

“We are delighted that Ms. Francoeur has accepted this new role and confident that her strong business sense and length of service at the hotel will be great contributions to the sales team at the Red Deer Lodge.” said Heather Hamilton, Regional Director of Sales and Marketing.

Red Deer Lodge Hotel and Conference Centre is distinguished by an indoor tropical courtyard and offers 233 guestrooms, day spa and beauty salon, indoor pool, whirlpool, restaurant, lounge and sports pub. This full-service hotel is located in the heart of Red Deer’s downtown core with easy access to the financial district, shopping, parks and recreational areas. It houses 9,500 sq.ft. of meeting space equipped with high speed internet and audio-visual capabilities.

CHIP Hospitality is one of Canada’s leading hotel management companies and currently manages more than 30 hotels and resorts in Canada with approximately 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, 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. Visit www.CHIPHospitality.com or call 1-800-431-0070 for more information.

NOTE TO EDITORS: Photo available upon request.

Media Contacts:

Holly Peterson, CHIP Hospitality
Tel: 604.646.8787 or 604.512.9198
hpeterson@chiphospitality.com

Heather Hamilton, CHIP Hospitality
Regional Director, Southern Alberta and Saskatchewan
Tel: 403.250.6063
hhamilton@chiphospitality.com