NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES
DALLAS and TORONTO, Oct. 16,
2023 /CNW/ -- NexPoint Hospitality Trust
("NHT" or the "REIT") (TSX-V: NHT.U) announced today
that its board of trustees has declared a special cash distribution
on the outstanding trust units ("Units") in an amount of
US$0.04497 per Unit payable on
December 29, 2023 to holders of
record at the close of business on November
15, 2023 (the "Special Distribution").
The Special Distribution is being made to distribute to holders
of Units ("Unitholders") all or a portion of the capital
gain realized by NHT from certain transactions completed during the
last fiscal year in order for the REIT to continue to be qualified
and classified as a "real estate investment trust" (as defined in
the U.S. Internal Revenue Code of 1986, as replaced or
amended, from time to time) for U.S. federal income tax purposes.
Unitholders will generally be required to include their
proportionate share of the REIT's income and net taxable capital
gain as allocated and designated by the REIT in computing their
respective income, and some Unitholders may be subject to
applicable withholding taxes in connection with the payment of the
Special Distribution. Unitholders should consult their tax advisors
regarding the income tax consequences to them of the Special
Distribution.
About NexPoint Hospitality Trust
NexPoint Hospitality Trust is a publicly traded real estate
investment trust, with its Units listed on the TSX Venture Exchange
under the ticker NHT.U. NHT is focused on acquiring, owning and
operating well-located hospitality properties in the United States that offer a high current
yield and in many cases are underperforming assets with the
potential to increase in value through investments in capital
improvements, a market-based recovery, brand repositioning, revenue
enhancements, operational improvements, expense inefficiencies, and
exploiting excess land or underutilized space. NHT owns 9 branded
properties sponsored by Marriott, Hilton, Hyatt, and
Intercontinental Hotels Group, located across the U.S. NHT is
externally advised by NexPoint Real Estate Advisors VI, L.P.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact:
Investor Relations
IR@nexpoint.com
Media Inquiries
MediaRelations@nexpoint.com
SOURCE NexPoint Hospitality Trust