AHP Allied Hotel Properties Inc

Allied Hotel Properties Inc. (“Allied” or the “Company”) (TSX-V: AHP), is informing current and prospective shareholders of the “Due Bill” trading requirements in relation to the special dividend of approximately $0.47 per Allied common share (the “Common Shares”) for an aggregate amount of $50 million announced on February 13, 2020 (the “Dividend”).

As previously announced, the Dividend will be paid on April 1, 2020 (the “Payment Date”) to Allied shareholders of record as of the close of business on March 2, 2020 (the “Record Date”). The Dividend is final and not subject to adjustment. As the amount of the Dividend represents a distribution greater than 25% of the Common Shares as at the declaration date, it will be subject to the “Due Bill” trading requirements of the TSX Venture Exchange (the “Exchange”). Accordingly, the Exchange has required that the Common Shares trade on a “Due Bill” basis from February 28, 2020, until the close of trading on the Payment Date (the “Due Bill Period”). This means that sellers who sell Common Shares during the Due Bill Period shall also sell their entitlement to the Dividend to the respective purchasers of such Common Shares. The Common Shares will commence trading on an ex-distribution basis (i.e. without an attached "Due Bill" entitlement to the Dividend) from the opening of trading on April 2, 2020 (i.e. the next trading day after the Payment Date). The Due Bills will be redeemed on April 3, 2020 once all trades with attached Due Bills entered during the Due Bill Period have settled.

On behalf of the Board of Directors:

(signed) Michael F. Chan

Michael F. Chan

President, Chief Financial Officer, Secretary and Director                       

For more information please contact:Allied Hotel Properties Inc.Tel: 604-669-5335Fax: 604-682-8131e-mail: mikechan@alliedhotels.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.