MHI Hospitality Corporation Reports Financial Results For Fourth Quarter and Year 2009

WILLIAMSBURG, Va., Feb. 23 /PRNewswire-FirstCall/ -- MHI Hospitality Corporation(Nasdaq: MDH) ("the Company"), a self-advised lodging real estate investment trust (REIT), today reported its consolidated results for the fourth quarter and year ended December 31, 2009.

HIGHLIGHTS:

-- Funds from Operations ("FFO") increased 155.9% over fourth quarter 2008,
or approximately $0.7 million to approximately $1.2 million, or $0.11
per share, for fourth quarter 2009.
-- FFO for the full year was approximately $6.0 million, or $0.55 per
share, versus approximately $6.3 million, or $0.59 per share, for the
full year 2008.
-- Total revenue for the quarter decreased 0.6% over fourth quarter 2008,
or approximately $0.1 million, to approximately $17.5 million.
-- Total room revenue for the quarter increased 1.1% over fourth quarter
2008, or approximately $0.1 million, to approximately $11.5 million.
-- Adjusted operating income for the quarter decreased 8.5% over fourth
quarter 2008, or approximately $0.3 million, to approximately $3.0
million.
-- Total assets of approximately $214.0 million at December 31, 2009,
versus approximately $211.2 million at December 31, 2008.

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MHI Hospitality Corporation Reports Financial Results for Second Quarter 2009

WILLIAMSBURG, Va., Aug. 7 /PRNewswire-FirstCall/ -- MHI Hospitality Corporation (Nasdaq: MDH) ("the Company"), a self-advised lodging real estate investment trust (REIT), today reported its consolidated results for the second quarter ended June 30, 2009.
HIGHLIGHTS:
Funds from Operations ("FFO") of approximately $0.23 per share for second quarter
Same-store operating margins improved 4 percentage points over second quarter 2008
Same-store hotel operating expenses decreased approximately $2.2 million or 16.6% over second quarter 2008 as a result of the Company's expense control and cost-cutting initiatives
Operating margins increased 12.8% over second quarter 2008
Total revenue increased 0.4 % over second quarter 2008
Total assets of approximately $220.5 million at June 30, 2009, versus approximately $194.1 million at end of second quarter 2008

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MHI Hospitality Corporation Reports Financial Results for First Quarter 2009

WILLIAMSBURG, Va., May 6 /PRNewswire-FirstCall/ -- MHI Hospitality Corporation (Nasdaq: MDH) (the "Company"), a self-advised lodging real estate investment trust (REIT), today reported its consolidated results for the first quarter ended March 31, 2009.
HIGHLIGHTS:
Funds from Operations ("FFO") increased 41.4 percent to approximately $0.10 per share over the first quarter 2008
Total revenue decreased 0.1 percent over first quarter of 2008
Total assets of approximately $220.9 million at March 31, 2009, versus approximately $170.4 million at the end of the first quarter 2008
Renovations completed at the Tampa, Florida and Hampton, Virginia properties, which concludes near-term portfolio asset improvement plans