Kemmons Wilson Hospitality Partners and Ascendant Capital Partners to acquire Sotherly Hotels for $46.3m.

Kemmons Wilson Hospitality Partners, a hospitality-focused investment management firm, and Ascendant Capital Partners, a vertically integrated real estate investment, development and operating platform, agreed to acquire Sotherly Hotels, the owner of a portfolio of full-service hotels located in the high-growth markets of the Southern US, for $46.3m. “This transaction is a testament to the high-quality portfolio that Sotherly has built over the past 20+ years as a publicly traded company and we are confident this will pave a path towards future success for our hotels and the associates and guests that enjoy them every day," David Folsom, Sotherly CEO.