Oct 27 (Reuters) - Sotherly Hotels Inc ( SOHO ):

* SOTHERLY HOTELS INC. ( SOHO ) TO BE ACQUIRED BY JOINT VENTURE

BACKED BY

KEMMONS WILSON HOSPITALITY PARTNERS AND ASCENDANT CAPITAL

PARTNERS

* SOTHERLY HOTELS INC ( SOHO ) - KW KINGFISHER TO BUY SOTHERLY SHARES

FOR

$2.25 PER SHARE

* SOTHERLY HOTELS INC ( SOHO ) - APOLLO AND ASCENDANT PROVIDE DEBT

FINANCING FOR DEAL

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