Exhibit 99.1 FOR IMMEDIATE RELEASE WEDNESDAY, MARCH 6, 2024 SOTHERLY HOTELS INC. REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER ENDED DECEMBER 31, 2023 Williamsburg, Virginia – March 6, 2024 – Sotherly Hotels Inc. (NASDAQ: SOHO), (“Sotherly” or the “Company”), a self- managed and self-administered lodging real estate investment trust (a “REIT”), today reported its consolidated results for the fourth quarter and year ended December 31, 2023. The Company’s results include the following*: Three Months Ended ...