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WILLIAMSBURG, Va., Nov. 22, 2016 -- Sotherly Hotels Inc. (NASDAQ:SOHO) (the “Company”) announced today that it has entered into a 10-year franchise agreement with Hilton Worldwide to rebrand its Hollywood, Florida hotel as the DoubleTree Resort by Hilton Hollywood Beach. The Company currently operates the hotel under IHG’s Crowne Plaza brand.
The conversion is scheduled to take place on or before October 31, 2017, subject to the completion of certain product improvement requirements.
Ideally located on a barrier island on the Intracoastal Waterway and adjacent to the Atlantic oceanfront, the hotel boasts 311 oversized guest rooms with waterfront balcony views, 10,000 square feet of meeting space, a resort-style infinity pool with poolside tiki bar, and three food & and beverage outlets. The hotel’s central location puts the famous dining, shopping, and entertainment scenes of Fort Lauderdale, Miami, and South Beach all within reach.
Drew Sims, Chief Executive Officer of the Company, commented, “We are pleased to partner with Hilton Worldwide in converting another hotel in our portfolio to its DoubleTree by Hilton brand. Our Hollywood hotel is uniquely positioned to benefit from the Hilton reservation system which we believe will help drive consistent performance within this market, ultimately creating value for our shareholders.”
About Sotherly Hotels Inc.
Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale and upper-upscale full-service hotels in the Southern United States. Currently, the Company’s portfolio consists of investments in twelve hotel properties, comprising 3,011 rooms. Most of the Company’s properties operate under the Hilton Worldwide, InterContinental Hotels Group and Marriott International, Inc. brands. Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia. For more information, please visit www.sotherlyhotels.com
Contact at the Company: Scott Kucinski Sotherly Hotels Inc. 410 West Francis Street Williamsburg, Virginia 23185 (757) 229-5648
