MHI Hospitality Corporation Commences Trading on NASDAQ
12 March 2008 - 5:24AM
PR Newswire (US)
WILLIAMSBURG, Va., March 11 /PRNewswire-FirstCall/ -- MHI
Hospitality Corporation (NASDAQ:MDH) announced that the Company
commenced trading today of its common stock on The NASDAQ Stock
Market LLC(R). The Company is trading under the symbol NASDAQ: MDH
and will no longer trade on the American Stock Exchange. Andrew M.
Sims, President and CEO of MHI Hospitality Corporation, said, "We
are very pleased with our move to the NASDAQ market system and view
it as a natural progression in our Company's growth and evolution.
We believe this robust electronic market structure will enhance our
liquidity and visibility, while providing investors with efficient
and cost effective trade execution." About MHI Hospitality
Corporation MHI Hospitality Corporation is a self-advised lodging
REIT focused on the acquisition, redevelopment and management of
mid-scale, upscale and upper upscale full service hotels in the
Mid-Atlantic, Midwest and Southeastern United States. Currently,
the Company's portfolio consists of eight properties comprising
1,971 rooms, all of which operate under the Hilton,
InterContinental Hotels Group and Starwood Hotels and Resorts
brands. In addition, the Company has a 25 percent interest in the
Crowne Plaza Resort Hollywood Beach and a leasehold interest in the
common area of Shell Island Resort, a resort condominium property.
MHI Hospitality Corporation was organized in 2004 and is listed on
the Russell Microcap(TM) Index. The Company is headquartered in
Williamsburg, Virginia. For more information please visit
http://www.mhihospitality.com/. About NASDAQ NASDAQ(R) is the
largest U.S. electronic stock market. With approximately 3,200
companies, it lists more companies and, on average, its systems
trade more shares per day than any other U.S. market. NASDAQ is
home to companies that are leaders across all areas of business
including technology, retail, communications, financial services,
transportation, media and biotechnology. NASDAQ is the primary
market for trading NASDAQ-listed stocks. For more information about
NASDAQ, visit the NASDAQ website at http://www.nasdaq.com/ or the
NASDAQ Newsroom(SM) http://www.nasdaq.com/newsroom. Forward-Looking
Statements This news release includes "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934 and Section 27A of the Securities Act of 1933. Although the
Company believes that the expectations and assumptions reflected in
the forward-looking statements are reasonable, these statements are
not guarantees of future performance and involve certain risks,
uncertainties and assumptions, which are difficult to predict and
many of which are beyond the Company's control. Therefore, actual
outcomes and results may differ materially from what is expressed,
forecasted or implied in such forward-looking statements. Economic
conditions generally and the real estate market specifically,
management and performance of the Company's hotels, plans for hotel
renovations, financing plans, supply and demand for hotel rooms in
the Company's current and proposed market areas, the Company's
ability to acquire additional properties and the risk that
potential acquisitions may not perform in accordance with
expectations, legislative/regulatory changes, including changes to
laws governing taxation of real estate investment trusts and
competition, and other factors, may affect the Company's future
results, performance and achievements. These risks and
uncertainties are described in greater detail under "Risk Factors"
in the Company's Annual Report on Form 10-K and subsequent reports
filed with the Securities and Exchange Commission. The Company
undertakes no obligation and does not intend to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. Although we believe our
current expectations to be based upon reasonable assumptions, we
can give no assurance that our expectations will be attained or
that actual results will not differ materially. DATASOURCE: MHI
Hospitality Corporation CONTACT: Bill Zaiser, Chief Financial
Officer, of MHI Hospitality Corporation, +1-301-220-5400; or Vicki
Baker, General Information, of Financial Relations Board,
+1-703-796-1798, for MHI Hospitality Corporation Web site:
http://www.mhihospitality.com/
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