Condor Hospitality Trust Further Enhances Portfolio with Capital Improvements

BETHESDA, Md.--()--Condor Hospitality Trust, Inc. (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced the completion of capital improvements targeted towards enhancing the guest experience at two of its assets, the Aloft Leawood Kansas City and the Marriott Courtyard Jacksonville Florida. At the Aloft Leawood Kansas City, the guestrooms and hallways were updated with new wall-coverings, lighting, and carpet consistent with the new Aloft design elements implemented by Marriott. At the Marriott Courtyard Jacksonville, an outdoor courtyard with a firepit and recreational activities was added to an area adjacent to the pool. The Company is also in the process of improving the Hampton Inn Lake Mary with an enhanced business center, a re-concepted grab-and-go, the addition of a new meeting space, and an upgraded front desk.

“Our 15 new investment platform hotels have an average age of less than four years and are in excellent condition with a contemporary design aesthetic that appeals to the modern traveler. That being said, we are constantly evaluating opportunities to enhance the guest experience and further drive top-line growth. The addition of an outdoor courtyard with a firepit and recreational activities at the Marriott Courtyard Jacksonville is a perfect example of our capital investment strategy. For a minimal amount of capital, we now have an appealing outdoor space that the hotel has already had success selling to multiple groups,” said Jeff Dougan, Condor’s Chief Operating Officer. “We will continue to evaluate opportunities to further enhance our portfolio through smart capital expenditure investments that improve the guest experience and further enable us to drive RevPAR and margin outperformance relative to our peers and national averages,” Mr. Dougan continued.

About Condor Hospitality Trust, Inc.

Condor Hospitality Trust, Inc. (NYSE American: CDOR), is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The Company currently owns 18 hotels in 10 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott, and InterContinental Hotels Group. For more information or to make a hotel reservation, visit www.condorhospitality.com.

Forward-Looking Information

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual events, results or performance to differ from those presented in the forward-looking statement. These forward-looking statements are based on assumptions that management has made in light of experience in the business in which the Company operates, as well as other factors management believes to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of events, performance or results. They involve risks, uncertainties (some of which are beyond the Company’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect events, performance or results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.

Contacts

Condor Hospitality Trust, Inc.
Jonathan J. Gantt, 301-861-3305
Chief Financial Officer & Senior Vice President
jgantt@trustcondor.com

Release Summary

Condor Hospitality Enhances Two Hotels with Capital Improvements

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Contacts

Condor Hospitality Trust, Inc.
Jonathan J. Gantt, 301-861-3305
Chief Financial Officer & Senior Vice President
jgantt@trustcondor.com