SpaceX IPO: Retail Investors to Play Historic Role in Record-Breaking Public Offering 
UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
Tesla Q1 2026 Deliveries Miss Estimates as AI Strategy Takes Center Stage 
Fonterra Admits Anchor Butter "Grass-Fed" Label Misled Consumers After Greenpeace Lawsuit 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Elon Musk Ties SpaceX IPO Access to Mandatory Grok AI Subscriptions 
Annie Altman Amends Sexual Abuse Lawsuit Against OpenAI CEO Sam Altman 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
First Western Ship Transits Strait of Hormuz Since Iran War Began 
TSMC Japan's Second Fab to Produce 3nm Chips by 2028 
OpenAI Executive Shake-Up Ahead of Anticipated 2026 IPO 
Paramount Skydance Secures $24B from Gulf Sovereign Wealth Funds for Warner Bros. Discovery Takeover 
Trump Administration Plans 100% Tariffs on Pharmaceutical Imports 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
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
