Exhibit 99.1 FOR IMMEDIATE RELEASE THURSDAY, MAY 9, 2024 SOTHERLY HOTELS INC. REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2024 Williamsburg, Virginia – May 9, 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 first quarter ended March 31, 2024. The Company’s results include the following*: Three Months Ended March 31, 2024 March 31 ...