Aug 22 (Reuters) - Holloway Lodging Corp HLC.TO :
* HOLLOWAY LODGING CORP. ANNOUNCES SALE OF THUNDER BAY HOTELS
* SALE PRICE FOR HOTELS WAS $15.0 MILLION
* EXPECTS TO USE NET SALE PROCEEDS TO REDUCE AMOUNTS DRAWN UNDER ITS REVOLVING CREDIT FACILITY
* DOES NOT EXPECT TO PAY ANY TAX ON SALE