MHI Hospitality Corporation Announces Third Quarter Dividend

WILLIAMSBURG, Va., July 15  /PRNewswire-FirstCall/ -- MHI Hospitality Corporation (NASDAQ:MDH) announced today that its board of directors has declared a quarterly dividend of $0.17 per share of common stock payable to shareholders of record on the close of business Monday, September 15, 2008. The dividend will be paid on Friday, October 10, 2008.

About MHI Hospitality Corporation

MHI Hospitality Corporation is a self-advised lodging REIT focused on the acquisition, redevelopment and management of mid-scale, upscale and upper upscale full service hotels in the Mid-Atlantic, Midwest and Southeastern United States.  Currently, the Company's portfolio consists of nine properties comprising 2,143 rooms, all of which operate under the Hilton, InterContinental Hotels Group and Starwood Hotels and Resorts brands.  In addition, the Company has a 25 percent interest in the Crowne Plaza Resort Hollywood Beach and a leasehold interest in the common area of Shell Island Resort, a resort condominium property.  MHI Hospitality Corporation was organized in 2004 and is listed on the Russell Microcap(TM) Index. The Company is headquartered in Williamsburg, Virginia.  For more information please visit http://www.mhihospitality.com/. 

DATASOURCE: MHI Hospitality Corporation



CONTACT:  Bill Zaiser, Chief Financial Officer of MHI Hospitality

Corporation, [phone]; or Vicki Baker of Financial Relations Board,

General Information, [phone], for MHI Hospitality Corporation



Web site:  http://www.mhihospitality.com/ 

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