InnVest Real Estate Investment Trust Announces Departure of CFO

InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced that
after serving 10 years as Chief Financial Officer, Tamara Lawson will be leaving
her role to pursue a new opportunity. The Board of Trustees has initiated the
process for the identification and selection of a suitable replacement.


"Tamara has played a key role at InnVest since the Trust's inception, helping
establish and improve our financial reporting, financing sources and corporate
structure. We thank her for her significant contributions over the past 10 years
and wish her every success in her future endeavors," said Kenneth Gibson,
InnVest's President and Chief Executive Officer. "We are fortunate to have a
strong, experienced finance team in place to help facilitate a smooth
transition. Having recently completed over $320 million of mortgage
refinancings, we do not have any significant mortgage maturities for the next
two years."


TRUST PROFILE

InnVest Real Estate Investment Trust (the "REIT") is an unincorporated
open-ended real estate investment trust which owns a portfolio of 141 hotels
across Canada representing approximately 19,000 guest rooms operated under
internationally recognized brands. The REIT leases its hotels to InnVest
Operations Trust ("IOT"), a taxable investment trust. IOT indirectly holds all
of the hotel operating assets, earns revenues from hotel customers and pays rent
to the REIT. IOT also holds a 50% interest in Choice Hotels Canada Inc., one of
the largest franchisors of hotels in Canada, and earns revenues from franchising
fees.


Each issued and outstanding REIT unit trades together with a non-voting unit of
IOT as a "stapled unit" on the Toronto Stock Exchange (the "TSX") under the
symbol INN.UN. InnVest's convertible debentures trade on the TSX under the
symbols INN.DB.B, INN.DB.C, INN.DB.D, INN.DB.E and INN.DB.F.

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