MHI Hospitality Corporation Announces Name Change to SoTHERLY Hotels Inc.

  MHI Hospitality Corporation Announces Name Change to SoTHERLY Hotels Inc.

Business Wire

WILLIAMSBURG, Va. -- April 16, 2013

MHI Hospitality Corporation (NASDAQ: MDH) (the “Company”) announced that it
has changed its name to S^oTHERLY Hotels Inc. As part of the move, the Company
will change its ticker symbol to “SOHO” on the NASDAQ Stock Market.

“This change represents a new generation in our Company’s 56 year history.
Since our IPO, we have aggregated a portfolio of unique, upper upscale and
upscale hotel assets primarily located in premier destination markets
throughout the Southern United States. We believe the future is bright for the
Southern US region, which has the highest growth statistics in the country,”
said Drew Sims, Chief Executive Officer of S^oTHERLY Hotels. Mr. Sims
continued, “Our long-term goal is to amass a larger portfolio throughout this
region, expanding our footprint to select target markets that fit our growth
strategy, while making the S^oTHERLY name synonymous with exceptional product
quality matched with Southern hospitality; creating a distinctive hotel
experience for each and every guest. We believe this approach will continue to
drive returns and ultimately create the greatest long-term value for our
stockholders.”

As part of the name change, the Company will launch a new website,
WWW.SOTHERLYHOTELS.COM, and the company’s email addresses will migrate to the
@SOTHERLYHOTELS.COM suffix. The Company expects all changes to take effect by
the commencement of trading on Monday, April 22, 2013.

About S^oTHERLY Hotels Inc.

S^oTHERLY Hotels Inc. is a self-managed and self-administered lodging REIT
focused on the acquisition, renovation, upbranding and repositioning of
upscale to upper upscale full-service hotels in the Mid-Atlantic and Southern
United States. Currently, the Company’s portfolio consists of investments in
ten hotel properties, nine of which are wholly-owned and comprise 2,113 rooms.
The Company also has a 25.0 percent interest in the Crowne Plaza Hollywood
Beach Resort. All of the Company’s properties operate under the Hilton
Worldwide, InterContinental Hotels Group and Starwood Hotels and Resorts
brands. S^oTHERLY Hotels Inc. was organized in 2004 and is headquartered in
Williamsburg, Virginia. For more information, soon please visit
WWW.SOTHERLYHOTELS.COM.

Contact:

S^oTHERLY Hotels Inc.
Scott Kucinski
Director - Investor Relations
757-229-5648
 
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