Condor Hospitality Trust Announces Sale of Non-Core Legacy Hotel

Condor Hospitality Trust, Inc. CDOR, a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced the closing on the sale of a legacy hotel asset, the 81-room Quality Inn Morgantown located at 225 Comfort Inn Dr., Morgantown, WV 26508 for $2.6 million. Net proceeds from the sale will be applied to outstanding debt on the Company's $150 million secured credit facility.

"We are pleased to announce our sixth legacy hotel sale in 2017 as part of our ongoing capital recycling initiative," said Bill Blackham, Condor's Chief Executive Officer. "The six year-to-date hotel dispositions result in our objective of selling seven legacy hotel assets during 2017 being 85% completed and the closed sales have generated gross proceeds of approximately $22.7 million. Condor currently has only seven remaining legacy assets with one of these assets currently under contract for sale, though there can be no guarantee this disposition will actually close," Mr. Blackham continued.

About Condor Hospitality Trust, Inc.

Condor Hospitality Trust, Inc. CDOR, is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The Company currently owns 20 hotels in 10 states. Condor's hotels are franchised by a number of the industry's most well-regarded brand families including Hilton, Marriott/Starwood, InterContinental Hotels Group, Choice, and Wyndham. For more information or to make a hotel reservation, visit www.condorhospitality.com.

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company's filings with the Securities and Exchange Commission.

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