Sotherly Hotels to be Acquired by Joint Venture for $2.25 Per Share in Cash.

Sotherly Hotels Inc. has entered into a definitive merger agreement with a joint venture led by Kemmons Wilson Hospitality Partners and backed by Ascendant Capital Partners. Under the terms of the agreement, stockholders will receive $2.25 per share of common stock in cash, representing the highest premium paid for a public, exchange-traded REIT in the past five years. The merger is expected to be completed in the first half of 2026.